Section 316(b) of the Trust Indenture Act prohibits only non‐consensual amendments to an indenture’s core payment terms; it does not protect a creditor's practical ability to collect on...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
9 years 11 months ago
Citation:
2016 U.S. App. LEXIS 5787 (2d Cir. N.Y. Mar. 29, 2016)
Ruling:
The Second Circuit addressed two issues: (i) whether appellants are barred by the Bankruptcy Code's automatic stay provision from bringing state law, constructive fraudulent conveyance claims while...
Judge(s):
WINTER, DRONEY, Circuit Judges, and HELLERSTEIN, District Judge
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
11 years 1 week ago
Citation:
Nos. 14‐97‐bk(L) (August Term 2014)
Ruling:
The Securities Investor Protection Act, 15 U.S.C. § 78aaa, et seq. (“SIPA” or “the Act”), does not permit an inflation or interest adjustment to “net equity” claims for customer...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
11 years 1 month ago
Citation:
2015 U.S. App. LEXIS 859 (2nd Cir. Jan. 21, 2015)
Ruling:
A secured party's authorization to file a UCC-3 termination statement of a UCC-1 Financing Statement filed under the Article 9 of the Uniform Commercial Code (UCC) is all that is required to...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
12 years 8 months ago
Citation:
Lepre v. U.S. Department of Education (In re Lepre)
Ruling:
In a non-precedential opinion, the Third Circuit AFFIRMED the decision of the the district court below affirming the bankruptcy court's decision denying the debtor's demand for a student loan...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
14 years 2 months ago
Citation:
No. 11-1724 (3rd Cir. 2011) 2012 U.S. App. LEXIS 34
Ruling:
A creditor’s appeal of a bankruptcy court order confirming a chapter 11 plan of reorganization and disallowing an objection by the creditor with respect to payment of an alleged $50 million claim...
Judge(s):
SLOVITER , VANASKIE , Circuit Judges and Lawrence F. Stengel , United States District Court for the Eastern District of Pennsylvania, sitting by designation.
