News Archive
2020
- ACIC Private Notes Summer 2021 Edition: 2021 Spring Virtual Investment Forum Recap
- New England Region: Germinara v. People’s Comprehensive Mortgage, LLC
- Project Finance Trends, Challenges, and Opportunities in 2021
- United Kingdom Updates: Tax 2020 Developments Affecting Financial Restructurings
- United Kingdom Update: Corporate Insolvency and Governance Act
- Canadian Update: The Supreme Court of Canada Affirms the Common Law Anti-Deprivation Rule
- President’s Message – January 2021
- ACIC Private Notes – December 2020
- 2020 ACIC New Officers and Trustees
- Financial Liquidity and Business Restructuring in the wake of COVID-19
- ACIC Private Notes – November 2020
- Key Inter-creditor Concepts in Renewable Energy Transactions
- 2020 Fall Virtual Annual Meeting and Educational Conference Summary
- ACIC Private Notes – October 2020
- Rocky Mountain/Western Update – In re Medina
- Rocky Mountain/Western Update – Gunderson v. Weidner Holdings, LLC
- Rocky Mountain/Western Update – Blixseth v. Credit Suisse
- Southwest Update – Legacy Bank v. Fab Tech Drilling Equipment, Inc.
- Southwest Update – In re: Hidalgo County Emergency Service Foundation v. Carranza
- ACIC Private Notes – September 2020
- New England Region: Huntington Technology Finance., Inc. v. Neff
- New England: Finance Authority of Maine v. Grimnes
- New England Region: Goddard v. Loosigian
- Southern Region: ING Bank, N.V. v. M/V Charana Naree
- Southern Region: The Rainmaker Group Ventures, LLC v. Bellack
- Southern Region: Wilson v. Gandis
- Southern Region: Wells Fargo Bank, N.A. v. Highland Constr. Mgmt. Servs.
- Southern Region: Synovus Bank v. Kelley
- Committee Reports: September 2020
- Revisiting Force Majeure Provisions in light of the Coronavirus Outbreak
- ACIC Private Notes – August 2020
- Midwest Update: Stoebner v. Opportunity Finance, LLC, et al.
- Midwest Update: Tissue Technology, LLC v. Tak Investments, LLC
- Midwest Update: U.S. v. Banyan, et al.
- Midwest Update: In re Happy Jack’s Petroleum, Inc.
- Mid-Atlantic Update: Trzaska v. L’Oreal USA, Inc. & L’Oréal, S.A.
- Mid-Atlantic Update: Kirschner v. J.P. Morgan Chase Bank, N.A.
- Mid-Atlantic Update: Ritzen Group, Inc. v. Jackson Masonry, LLC
- ACIC Private Notes – July 2020
- Canadian Update: Government Liquidity Program Options for Canadian Debtors
- Spotlight on New Fellows – July 2020
- President’s Message July 2020
- ACIC Private Notes – June 2020
- Current COVID-19 Topics in the Power Industry
- ACIC Private Notes – May 2020
- ACIC TPMC Committee Model Form Updates
- ACIC Private Notes – April 2020
- Southwest Update – Matter of Henry
- Pacific/Rocky Mountain Update – In re Southern Inyo Healthcare District
- Pacific/Rocky Mountain Update – In re Mayacamas Holdings LLC
- Pacific/Rocky Mountain Update – Fed. Home Loan Bank of Seattle v. Credit Suisse Sec. (USA), LLC
- Pacific/Rocky Mountain Update – In re 3MB, LLC
- Southwest Update – Magna Equities II, L.L.C. et al. v. Heartland Bank
- Postpetition Interest on Unsecured Claims: Lessons for Distressed Debt Investors In Light of the PG&E Decision
- ACIC Private Notes – March 2020
- New NAIC Rules for Ground Lease Financing Transactions
- Southern Region: In re Palm Avenue Partners, LLC
- Southern Region: TMX Finance, LLC v. Goldsmith
- Southern Region: SE Prop. Holdings, LLC v. Unified Recovery Grp.
- Southern Region: Bethesda Road Partners, LLC v. Strachan
- Southern Region: In re Tara Retail Group, LLC
- ACIC Committee Reports
- New England Region: Auctus Fund, LLC vs Sunstock, Inc.
- New England Region: Metcalf v. Fitzgerald
- New England Region: In Bank of America, N.A. v. New England Quality Service, Inc.
- ACIC Private Notes – February 2020
- Teaser for the 2020 Spring Investment Forum
- Midwest Update – Koss Corp. v. Park Bank
- Midwest Update – KSA Enterprises, Inc. v. BB&T
- Midwest Update – Jet Midwest Intl v. Jet Midwest Group
- Midwest Update – In re I80 Equip., LLC
- Mid-Atlantic Update – Contrarian Funds, LLC v. Woodbridge Group of Companies, LLC
- Mid-Atlantic Update – Oxford University Bank v. Lansuppe Feeder, LLC
- ACIC New Members Since August 2019 – Biographies
- United Kingdom Update: Protecting Tax in Insolvency
- My Chi To Appointed as Executive Deputy Superintendent of the Insurance Division at the Department of Financial Services
- United Kingdom Update: Syncreon – The English Patient
- Introduction to New ACIC Website
- Canadian Update: Wei vs. Lei BCCA 114
- ACIC Private Notes – January 2020
2019
- ACIC Private Notes – November / December 2019
- President’s Message (December 2019)
- The Ultra Make-Whole Saga Continues
- 2019 Annual Meeting and Educational Conference Summary
- Proposed Amendments to the SEC’s Advertising Rule
- Midwest Update – FirstMerit Bank, N.A. v. Kloysner Grp.
- ACIC Private Notes – October 2019
- Southwest Update – Fishback Nursey, Incorporated; Surface Nursey, Incorporated v. PNC Bank
- Southwest Update – Godoy v. Wells Fargo Bank
- Rocky Mountain/Western Update – Diamond Enterprises, Ltd. v. [an individual with initials MY]
- Rocky Mountain/Western Update – Odyssey Reinsurance Co. v. Nagby
- Rocky Mountain/Western Update – Hernandez v. Enterprise Rent-a-Car Co.
- Primer on the California Consumer Privacy Act of 2018
- ACIC Private Notes – September 2019
- Takeaways for Private Placement Investors following PG&E’s Bankruptcy
- New England Update: Ion Bank v. J.C.C. Custom Homes, LLC, 189 Conn.App. 30 (2019)
- New England Update: Forty Pine, LLC v. Country Bank for Savings, 95 Mass.App.Ct. 1108 (2019)
- New England Update: KLP Enterprises, LLC v. Sassani, 2019 WL 2548135
- Committee Reports
- Southern Update: In re Lexi Development Company, Inc.
- Southern Update-Durham Commercial Capital Corp. v. Ocwen Loan Servicing, LLC, No., 17-15572, 2019 WL 2290886 (11th Cir. May 29, 2019)
- Southern Update: Gulf Coast Hospice LLC v. LHC Group Inc.
- Southern Update: In re James Alexander Mason, Jr.
- Southern Update: In re WasteTech, 2019 WL 2351877 (Bankr. N.D. Ga. May 31, 2019
- ACIC Private Notes – August 2019
- Midwest Update – Cedar Square L.L.C. v. TCF National Bank
- Midwest Update – In re Chernushin
- Midwest Update – Desai v. Hanmi Bank
- Mid-Atlantic Update – In re Energy Future Holdings Corp.
- Mid-Atlantic Update – In re Paragon Offshore PLC
- The Response of Canadian Banks to the Supreme Court of Canada’s Redwater Decision
- The Extraordinary Administration of Agrokor d.d.
- Mid-Atlantic Update – In re Aegean Marine Petroleum Network Inc.
- Teaser for the 2019 Annual Fall Meeting and Conference
- ACIC Private Notes – July 2019
- Spotlight on New Members- July 2019
- Spring Flash Sale – The Debenhams Pre-Pack
- President’s Message July 2019
- ACIC Private Notes – June 2019
- A Primer on the Qualified Opportunity Zone Regulations
- ACIC Private Notes – May 2019
- ACIC Private Notes – April 2019
- Southwest Update – In re: Ultra Petroleum Corp.
- Southwest Update – Legacy Bank v. Fab Tech Drilling Equipment
- Rocky Mountain/Western Update – Cohen v. TNP 2008 Participating Notes Program
- Rocky Mountain/Western Update – In re Pettit Oil Co.
- Mid-Atlantic Update – In re Orexigen Therapeutics, Inc
- Mid-Atlantic Update – In re Taberna Preferred Funding IV
- Mid-Atlantic Update – In re Lehman Brothers Holdings Inc.
- ACIC Private Notes – March 2019
- Getting to Know Our Madeleine Crouch & Co. Account Executive – CJ Marchain
- Mitchell v. K&B Fabricators, Inc.
- Conroy v. Amos
- Sweely Holdings, LLC
- Guarantee Co. of N. Am. v. Gary’s Grading & Pipeline Co.
- Nationwide Mutual Insurance Company v. Eagle Window & Door, Inc.
- Besaw, Trustee of Revocable Living Trust of Ernest P. Giroux v. Giroux
- ACIC Committee Reports
- People’s United Bank v. B & B Fire Protection, Inc.
- ACIC Private Notes – February 2019
- Spotlight on New Members Since June 2018
- Sneak Peek – Spring Forum 2019
- Midwest Update – Morgan Walg, LLC v. Nicollet Island Development Co
- Midwest Update – American Tooling Center, Inc. v. Travelers Casualty & Surety Co.
- Midwest Update – Big A LLC v. Vogel
- After Ultra: Status of Make-Whole and Post-Petition Interest Following the Fifth Circuit’s Decision in Ultra
- ACIC Private Notes – January 2019
- CFTC Chairman Speech on Libor Reform
- President’s Message-January 2019
2018
- ACIC New Officers and Trustees – 2018
- Proposals for Reform of the UK Insolvency and Corporate Governance Framework
- Canadian Case Law Update – Solar Power Network Inc. v. ClearFlow Energy Finance Corp.
- ACIC Private Notes – December 2018
- De La Torre v. CashCall, Inc., 236 Cal. Rptr. 3d 353, 422 P.3d 1004 (Cal. 2018)
- Street v. ACC Enters., LLC, 2018 U.S. Dist. LEXIS 167299 (D. Nev. Sept. 27, 2018)
- Conditional Language Trumps Market Customs in Claims Trading Dispute
- Pac. W. Bank v. Fagerdala USA-Lompoc, Inc. (In re Fagerdala USA-Lompoc, Inc.), 891 F.3d 848 (9th Cir. 2018)
- ACIC Private Notes – November 2018
- ACIC Private Notes – October 2018
- Southwest Update – Abuzaid v. Anani
- Getting to Know Your ACIC Officers and Trustees
- Southwest Update – In re: Caprock Oil Tools, Inc.
- ACIC Private Notes – September 2018
- Jenzack Partners v. Stoneridge
- FERC Changes
- Community & Southern Bank vs. First Bank of Dalton
- Pertius v. Front Roe Restaurants, Inc.
- Tri-State Petroleum Corp. v. Coyne
- Bennett v. Jefferson County, Alabama
- Clark v. DiStefano
- Gelfgatt v. USB
- ACIC Private Notes – August 2018
- Midwest Update – Capital One Equip. Fin. Corp. v. Adela Inc.
- Midwest Update – FirstMerit Bank, N.A. v. Kloysner Grp.
- Mid-Atlantic Update – In re Woodbridge Group of Companies, LLC
- Midwest Update – Brandt v. FDIC (In re Equip. Acquisition Res., Inc.)
- Mid-Atlantic Update – In re Taberna Preferred Funding IV, Ltd.
- ACIC Private Notes – July 2018
- Lex Agrokor
- Spotlight on New Members – July 2018
- English High Court Decision
- President’s Message July 2018
- Solar Power Network Inc. v. ClearFlow Energy Finance Corp., 2018 ONSC 7286
- ACIC Private Notes – June 2018
- Equity Title Insurance – Proposed Form Endorsement
- 2018 Spring Forum Highlights
- ACIC Private Notes – May 2018
- ACIC Private Notes – April 2018
- Rocky Mountain/Western Update – Vitatech International, Inc. v. Sporn
- Rocky Mountain/Western Update – Lucas v. Deutsche Bank
- The Ultra Make-Whole Challenge: Enforceability of Make-Whole as an Enforceable Liquidated Damages Claim under New York Law
- Rocky Mountain/Western Update – Dray v. Revah
- Southwest Update – In re: Amigo PAT Texas, LLC
- Southwest Update – First Bank v. Brumitt
- ACIC Private Notes – March 2018
- New England Update – Zelby Holdings, Inc. vs. Videogenix, Inc.
- New NAIC Rules on Private Letter Ratings
- Southern Update – Gibson v. Ameris Bank
- Southern Update – Rebel Auction Co. v. Citizens Bank
- Southern Update – IPayment, Inc. v. Grainger
- ACIC History – Interviews
- Southern Update – Miller v. FiberLight, LLC
- New England Update – American First Federal, Inc. v. Gordon
- ACIC Private Notes – February 2018
- Spotlight on New ACIC Members – February 2018
- Midwest Update – RED Mortgage Capital, LLC v. Shores, LLC
- Midwest Update – Kaplum v. Edgebrook Acquisition 2, LLC
- Midwest Update – Spanish Peaks Holdings
- Mid-Atlantic Update – Momentive Performance Materials Inc.
- 2018 Spring Investment Forum Teaser
- Midwest Update – Bowling Green Sports Center, Inc.
- ACIC President’s Message 2018
- ACIC Private Notes – January 2018
2017
- ACIC Private Notes – December 2017
- Canadian Update – Redwater Cases
- European Update – Recast European Insolvency Regulation in Effect
- European Update – UK Court of Appeal judgment on Lehman Waterfall II Parts A and B
- European Update – UK Pensions Regulator’s new tougher approach following BHS
- ACIC Private Notes – November 2017
- Life after Libor Language Puts Banks in Control
- American College of Investment Counsel Elects Officers and Trustees 2017-2018
- ACIC Private Notes – October 2017
- Rocky Mountain/Western Update – Rincon EV Realty LLC v. CP III Rincon Towers, Inc.
- Southwest Update – In re: Ritz
- Rocky Mountain/Western Update – McGill v. Citibank
- Southwest Update – Khoury v. Tomlinson
- Rock Mountain/Western Update – Western Surety Co. v. La Cumbre Offices Partners, LLC
- ACIC Private Notes – September 2017
- Southern Case Summary-Beck-Ford Constr., LLC v. TCA Glob. Credit Master Fund, LP, No. 1:15-CV-61706-UU, 2017 WL 2366472 (S.D. Fla. Mar. 6, 2017)
- Southern Case Summary-Sentinel Capital Orlando, LLC v. Centennial Bank, 676 Fed. App’x 910 (11 Cir. 2017)
- Southern Case Summary-re Jeff Benfield Nursery, Inc., 565 B.R. 603 (Bankr. W.D. N.C. 2017)
- Southern Case Summary-Blackrock Capital Inv. Corp. v. Fish, 799 S.E.2d 520 (W. Va. 2017)
- Committee Reports – August 2017
- New England Case Summary-re Sagendorph, 562 B.R. 545 (D. Mass 2017)
- New England Case Summary-Valley Nat’l Bank v. Marcano, 174 Conn. App. 206 (2017)
- New England Case Summary-re Reardon, 2017 WL 1283449 (Bkrtcy. D. Mass., Judge Bailey)
- New Member Spotlight – August 2017
- Southern Case Law Summary-Edwards Family Partnership, LP v. Bancorpsouth Bank, ___F. Supp. 3d___, 2017 WL 1732709 (S.D. Miss. February 21, 2017)
- Mid-Atlantic Update – Stonehill Capital Management, LLC v. Bank of the West
- Banco Popular, North America v. Kanning
- Carmel Financial Corporation, Inc. v. Castro
- Nw. Bus. Fin., LLC v. Able Contractor, Inc.
- Huffman v. Gollersrud (In re Westby)
- Gault v. Sass Electric, Inc.
- Lesa, LLC v. Family Trust of Kimberley and Alfred Mandel
- Bruce v. Cauthen
- New Member Spotlight – July 2017
- Midwest Update – FDIC v. Chi. Title Ins. Co.
- Midwest Update – Old Second National Bank v. Jafry
- Mid-Atlantic Update – Justinian Capital SPC v. WestLB AG
- Midwest Update – In re Town Ctr. Flats, LLC
- American College of Investment Counsel Elects Officers and Trustees
- Private Placements and the Qualifying Private Placement Exemption
- ACIC Private Notes – August 2017
- ACIC Private Notes – July 2017
- A High Level Summary of the Recast European Insolvency Regulation
- A New Era of Greater Scheme Scrutiny
- German CoCo Bonds
- President’s Message – July 2017
- Payless Holdings Inc. LLC, Re 2017 ONSC 2321
- XPG v. Royal Bank, 2017 ONSC 2598
- Amendments to Companies Act Aim to Transform Singapore into Debt Restructuring Hub
- Financial Choice Act: Implications for Institutional Investors
- ACIC Private Notes – June 2017
- ACIC Private Notes – May 2017
- ACIC Private Notes – April 2017
- ACIC Private Notes – March 2017
- Mid-West Case Report (Opportunity Finance, LLC, v. Kelley)
- Chapman & Cutler Article
- Midwest Case Report (3155 Development Way, LLC v. APM Rental Properties, LLC)
- Mid-Atlantic Case Report (Ring v. First Niagara Bank, N.A.)
- Mid-Atlantic Case Report (MarbleGate)
- Mid-Atlantic Case Report (U.S. Bank Nat’l Ass’n v. T.D. Bank)
- Midwest Case Report- NJK Holding Corp. v. Araz Group, Inc.
- New Member Spotlight – February 2017
- ACIC Private Notes – February 2017
- ACIC Private Notes – January 2017
- Test for Unconscionability Not Modified by Bhasin v Hrynew General Principle of Good Faith
- German Recovery and Resolution Act
- Brexit and UK Oil & Gas
2016
- Committee Reports (August 2019)
- ACIC New Member Spotlight – July 2016
- ACIC Private Notes – November 2016
- ACIC Private Notes – October 2016
- ACIC Private Notes – September 2016
- Delaware Trust Company v. ComputerShare Trust Company
- In re Intervention Energy Holdings, LLC
- ACIC Private Notes – August II 2016
- ACIC Private Notes – August 2016
- Rock the Vote! – A Message from ACIC President Brenda Page
- ACIC’s Newest Members (June 2016)
- The New U.K. Ownership and Control Transparency Regime (The PSC Regime)
- The Dutch Pre-pack and Scheme
- Chapman and Cutler LLP: Financing Public-Private Partnerships in the U.S. Private Placement Market
- King & Spalding: Recent News in the RadioShack Bankruptcy Case: Court Resolves Intercreditor Dispute in Favor of Senior Lenders
- ACIC Spring Investment Forum – American Bandstand: Who’s Calling the Investment Tunes in 2016?
- Message from Brenda – Off to a Rockin’ 2016
- Garnishing Creditor Given Priority Over Unperfected Security Interest in Deposit Account
- Composite Documentation May Evidence Security Interest
- Minority-Noteholder’s Challenge to Repurchase Sole Equityholder’s Notes
- Securities Act Claims of Plaintiff-Purchasers of Foreign Securities
- Payment of Make-Whole Premium Upon Acceleration by Bankruptcy
- ACIC Annual Spring Investment Forum, April 7 and 8, 2016 in Chicago
- English schemes of arrangement of non-UK companies: jurisdictional issues
- Changes to the Ontario Personal Property Security Act to Come into effect on December 31, 2015
- Fishery Quota Entitlement a Personal Property?
- A Renewed Focus on Committees
- Revised Version of the Statement of Insolvency Practice 16: Pre-packaged Sales in Administrations
- Winners For Annual Meeting Drawing Announced
2015
- Recharacterization of participation agreements as loan agreements affected court’s interpretation of assignment terms and application of UCC perfection rules
- Waivers of defenses in guaranty agreements were limited to legal or statutory defenses particularly set forth in the agreements and did not constitute a waiver of all equitable defenses
- Fifth Circuit clarifies (or maybe qualifies) the nature of “good faith” required for provider of DIP financing in bankruptcy
- The Texas statute of frauds bars defenses of oral agreements raised to prevent collections actions by lenders, and there is still no generally applicable duty of good faith and fair dealing implied in non-UCC contracts
- Failure to read a contract did not necessarily preclude equitable relief from the contract terms based on misrepresentations, although such claims for equitable relief ultimately were found to be moot
- Bankruptcy court’s power to cause excess mortgage foreclosure trustee fees to be placed in a lower recovery class, regardless of language in deed of trust
- Good faith value defense to fraudulent transfer actions under the Bankruptcy Code
- Failure to read a contract did not necessarily preclude equitable relief from the contract terms based on misrepresentations, although such claims for equitable relief ultimately were found to be moot.
- Second Circuit Confirms Prior Decision that UCC Termination Statement Mistakenly Filed Was Effective to Terminate Security Interest for $1.5 Billion Loan – Official Committee of Unsecured Creditors of Motors Liquidation Co. v. JPMorgan Chase Bank NA, No
- September 2015 ACIC Committee Updates
- Kentucky borrowers not entitled to statutory penalties based on unrecorded MERS mortgage note transfers; recording is not required when a party acquires merely an interest in a mortgage instead of the mortgage instrument itself
- Under North Carolina law, debtor creates a jury issue in a post-foreclosure deficiency action merely by providing a conclusory affidavit that foreclosed real property was worth the amount of the debt
- Where limitation of liability clause in loan participation agreement was sufficiently prominent to be enforceable, the lead lender could be liable only for breaches of contract resulting from gross negligence or willful misconduct
- Under Florida law, a bank may become a fiduciary for account customers by providing “extra services,” but providing specialized technology supporting bond traders did not constitute an extra service of the type that creates a fiduciary duty
- Settlement proceeds paid for damage to mortgaged property were substitute collateral for diminution in the value of the mortgagee’s security and subject to the lien of the mortgage; mortgagee was not required to perfect under the UCC
- Creditor’s Proof of Claim in Chapter 13 Proceeding in Respect of Promissory Note Held by Custodian Survives Challenge by Debtor That Creditor Was Not a Holder of the Note. Monty v. United States Bank, N.A. (In re Monty), 2015 Bankr. LEXIS 1416 (4/16/15)
- Contractually-Mandated “Delinquency Advances” Made by Loan Servicers to Trustees Under Mortgage-Backed Securitization Program Did Not Discharge Borrowers’ Underlying Debts Thereunder. Ouch v. Fannie Mae, 2015 U.S. App. LEXIS 14881 (Aug. 24, 2015)
- Lender’s Discretionary Adjustment of Interest Rate on Promissory Note Deemed Permissible Under the Clear Language of the Note, Serving No Grounds for Defenses of Breach of Contract/Common Law Fraud. Smith v. CAS, LLC, 2015 R.I. Super. LEXIS 101 (8/5/15)
- Appellate Court of Connecticut Applies Parol Evidence Rule in Analyzing Enforceability of Promissory Notes, Finding Notes to be Fully Integrated and Unambiguous. Channing Real Estate, LLC v. Gates, 159 Conn. App. 59 (Aug. 4, 2015)
- ACIC Annual Fall Meeting, October 22-23, 2015
- Delaware Bankruptcy Court Rejects Make-Whole Claim Based on Absence of Clear and Unambiguous Contractual Right to Such Claim Following Bankruptcy Acceleration – In re Energy Future Holdings Corp., No. 14-50363 (CSS) (Bankr. D. Del. 26, 2015)
- https://www.aciclaw.org/news/2015/no-express-ucc-claim-secured-party-unauthorized-filing-termination-statement
- 7th Circuit Holds Title Insurer Not Liable for Liens Resulting From Insufficient Funds
- LLC Need Not Register with the State Prior to Debtor’s Bankruptcy Petition to Pursue Claim in Bankruptcy Court
- Qualification of Unpaid Lease Obligations as an Administrative Claim
- Message from the President – July 2015
- ACIC New Member Spotlight – July 2015
- Tax Credits and Effect on Investment in U.S. Renewable Energy Industry
- Implied Contract Incorporates Indemnity for a Pension Deficit
- New UK Tax Rules for Debt Restructuring
- Alberta Court Restricts the Use of Canada Business Corporations Act for Debt Restructurings
- ACIC Development Committee
- RECOVERIES ON NOTES SECURED BY REAL ESTATE MORTGAGES: GUARANTORS, TRANSFERS AND PROOF
- FRAUDULENT TRANSFERS: RECENT INTERPRETATIONS OF THE UNIFORM FRAUDULENT TRANSFER ACT BY THE FIFTH CIRCUIT
- DEFINITION OF “ELIGIBLE ASSIGNEES,” AND SPECIFICALLY, “FINANCIAL INSTITUTIONS,” FOUND NOT TO INCLUDE PREDATORY INVESTORS BASED ON THE PLAIN LANGUAGE AND CONTEXT OF THE ASSIGNMENT PROVISION IN A LOAN AGREEMENT, AS WELL AS THE PARTIES’ PRIOR ACTIONS
- DEFINITION OF “INDEBTEDNESS” WAS CONSTRUED NARROWLY IN GUARANTY AGREEMENTS SUCH THAT THE GUARANTEED OBLIGATIONS WERE DEEMED TO BE COMMENSURATE WITH THE AMOUNT OF THE ALLOWED CLAIM SET FORTH IN THE DEBTOR’S CHAPTER 11 PLAN
- PAYMENTS FALLING WITHIN THE PLAIN LANGUAGE OF BANKRUPTCY CODE § 546(E) COULD NOT BE AVOIDED AS FRAUDULENT TRANSFER PAYMENTS.
- ACIC Committee Information – March 2015
- Usury savings clause insufficient to save lenders from HOEPA disclosure violations, but may prevent liability for inadvertent violation of usury laws in connection with commercial loans.
- Under Georgia law, a court that issues a judgment against an LLC member may also issue an order in the same case charging the member’s LLC interest with payment of the judgment
- Financial services firm owed no duty to clients of the firm’s customer and was not liable in negligence for those clients’ losses
- Accounting firm that failed to uncover in audits conducted over eight year period that its client was not making required tax filings could be liable for breach of fiduciary duty
- Under Florida law, the involuntary dismissal without prejudice of an initial foreclosure action did not “decelerate” lender’s acceleration of the debt in the initial action and the statute of limitations continued to run
- Exception in release of claims for an identified securities option contract ineffective where option contract was never signed.
- A provision in a promissory note requiring payment of a fixed percentage as attorney’s fees upon breach is enforceable under South Carolina law; South Carolina law governed enforceability analysis where note was accepted by lender in South Carolina.
- Virginia corporation avoided shareholder appraisal rights in asset sale by changing state of incorporation to Delaware.
- Dispute over ownership of a loan agreement and promissory note did not alleviate Borrower’s obligations, but creditors could not recover delinquency charges on lump sum of principal due to conflicting disclosures.
- Cash proceeds paid to Debtor under a commercial property insurance policy are excluded from the scope of the UCC for perfection purposes, and any perfection of such must occur under common law
- usurious. Rhode Island Supreme Court invalidates all security securing usurious notes, holding that all security cross-collateralizing notes is invalid if even one note is usurious
- Buyer of Distressed Loan Portfolio Held to Remedy Limitation Resulting in No Recovery for Breach
- Mistaken Date in Security Agreement Defeats Security Interest Securing Promissory Note
- Expansive Trust Indenture Act Interpretation May Negatively Affect Bond Restructurings
- Message from the President – January 2015
- ACIC New Member Spotlight – January 2015
2014
- Court prefers commercial certainty and predictability over equitable considerations in interpreting the Personal Property Security Act (British Columbia)
- The Apcoa Parking Restructuring: The jurisdiction of the English court over schemes of arrangement of foreign companies
- Privy Council finds that courts’ power to assist foreign courts is limited to the power of the foreign court
- Privy Council finds assets of a company (wherever located) being wound up subject to a trust in favor of all creditors
- Payment to a creditor on the eve of bankruptcy to further a commercial imperative not void against the trustee in bankruptcy (Alberta)
- Duty of good-faith contractual performance recognized as an organizing principle of common law in Canada
- ACIC 2014 Annual Fall Meeting Summary Newsletter
- Bitcoins are “money”
- Recharacterization of Overriding Royalty Interests in Bankruptcy
- Mortgage Anti-Deficiency protection can be waived
- MERS Registration system does not contravene mortgage filing system law in Texas
- Minority Shareholder Oppression: Apparent changes in the Texas rules
- The Supreme Court of Louisiana, resolving a lower court split, holds that a forum selection clause is not a per se violation of public policy under Louisiana law; course of conduct established that a party’s unilateral terms and conditions containing …
- Inconsistent forum selection clauses in asset purchase agreement and ancillary agreements must be read together; where some agreements had permissive forum selection and others had exclusive selection, all clauses were deemed permissive. Smith v. B2K Sys
- Court clarifies Florida standards for distinguishing between direct and derivative investor claims; in the absence of authorizing language in an LLC operating agreement, an LLC member could not sue another member directly for breach of the operating agree
- Lender liability: investors in corporate borrower could not sue lender for negligence, negligent misrepresentation or fraudulent misrepresentation; under South Carolina law, a bank owes a limited duty of care to its customer, but bank owed no duty to
- Mortgagee’s failure to obtain judicial confirmation of real estate foreclosure sale barred claim for deficiency after second foreclosure sale of different real estate securing a different mortgage, where mortgages were cross-defaulted and cross-collateral
- filing for bankruptcy is deemed to be a “prepetition wavier” of bankruptcy protection, and thus void as a matter of public policy
- Personal jurisdiction over an out-of-state defendant law firm who issued an opinion letter cannot be sustained where it is only shown that (1) the plaintiff has a strong connection to its home state, (2) the opinion letter written by the defendant was add
- The classification of an arbitration award under the UCC in a bankruptcy case is determined by the nature of the underlying claim held by the debtor
- Court refuses to avoid a post-petition transfer by a fully secured creditor in violation of the automatic stay because the trustee of the estate failed to show that the estate had been harmed by the transfer or that avoiding the transfer would benefit the
- Two competing interpretations of a “LIFO” clause can both be reasonable, and, even if one interpretation is more reasonable than the other, it does not mean the contract is unambiguous and that summary judgment is appropriate
- Companies Need to Take a “Layered Approach” to Sanctions Compliance: US and EU Expand Sanctions Against Russia
- NH District Court: Sale of repossessed aircraft below book still commercially reasonable absent bad faith
- Massachusetts: Transfer of funds to court-ordered escrow does not extinguish security interest
- Rhode Island includes commitment fees in interest rate
- President’s Message – August 2014
- New Member Spotlight – Dora Jimenez
- New Member Spotlight – Ralph Dudziak
- New Member Spotlight – Anthony Goodman
- New Member Spotlight – Jack R. Hayes
- UK Schemes – Stretching the Boundaries
- Changes to Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regulation and Enforcement Landscape: Introduction
- Choice of law: The substantive vs. procedural distinction can affect the award of fees in litigation
- Failure to provide waivable (but unwaived) notices can support both a breach of contract claim and a claim for wrongful foreclosure
- Payment of rent by administrators: the Game decision (Pillar Denton & ors v Jervis & ors [2014] EWCA Civ 180)
- Possession of original note with endorsement in blank may be adequate proof of ownership of the secured debt in order to permit foreclosure of the lien
- Failure to record transfer of deed to assignee can, in absence of additional proof of ownership of note, prevent foreclosure
- PPIA Materials Available for Comment Now
- Rhode Island finds usury savings clauses unenforceable
- Renew Your ACIC Membership Online – 2014
- New Model X Form NPA Posted for Comment!
- Lender’s replacement lien in collateral entitles lender to pre-petition proceeds
- Washington State Supreme Court rejects the “volunteer rule” bar to equitable subrogation
- California: Side letter can trigger equitable subordination of lender’s lien
- Idaho: Failure to comply with statutory “exemption” procedure will not defeat perfection
- Washington State: Promissory Notes Secured by Real Estate Governed by the UCC
- Spring Investment Forum – 2014
- Requirements for Enforcing a Subordination Agreement under the UCC
- Fair Value Debt-for-Debt Exchange Does Not Create Disallowable Unmatured Interest under the Bankruptcy Code
- Credit Bids May Be Limited for Cause, Including Encouraging Robust Bidding and Uncertain Secured Status
- Spotlight on New Members – February 2014
- President’s Message – January 2014
- Looking Forward to the ACIC Spring Forum, April 24-25
- ACIC Annual Fall Meeting, October 16-17, 2014
2013
- Take a Tour of the Site with our Welcome Video
- Welcome!
- President’s Message – August 2013
- President’s Message Fall 2013
2012
ACIC Administrative Office
14070 Proton Rd., Suite 100, Dallas, TX 75244
972-233-9107 x216 (Phone)
972-490-4219 (Fax)
office@aciclaw.org