By: Ilmar-Erik Aavakiv and Kairi Tuulmägi
Advokaadibüroo Aivar Pilv, Estonia

It is usual that the obligations of a company are secured by a guarantor, often times a member of the management board. Signing a surety contract gives the creditor more security – if the debtor is unable to fulfill his obligations

Read more: Suretyship and Bankruptcy


By: Paul A. Rubin, Frederick E. Schmidt
Herrick, Feinstein LLP, New York, NY

A groundbreaking decision in a high profile case opens the door for confirmation of chapter 11 plans that distribute value to junior creditors over the objection of first lienholders, despite the parties' subordination

Read more: Cram Down Plan “Trumps” Subordination Provision in Intercreditor Agreement


By: Stephen B. Selbst and Paul A. Rubin
Herrick, Feinstein LLP., New York, NY

A recent New York bankruptcy court decision highlights a less commonly used option for lenders to take control of troubled real estate projects. The lender obtained relief from the automatic stay to foreclose

Read more: Foreclosure on UCC Collateral Speeds Lender’s Takeover of Troubled Real Estate


By: Gary Eisenberg
Herrick, Feinstein LLP, New York, New York, USA

As this economic downturn continues, so does a clear trend of bankruptcy law decisions unfavorable to secured creditors. In case after case—including the Chrysler and General Growth Properties cases[1]—the

Read more: Third Circuit's Decision in the Philadelphia Newspapers Case Continues Pattern of Anti-Creditor...


By: Paul A. Rubin
Herrick, Feinstein LLP, New York, New York, USA

If you are considering acquiring claims in a bankruptcy case with the intent of voting against a reorganization plan, you should be familiar with the implications of a recent New York bankruptcy court's ruling. In

Read more: Bankruptcy Court Disqualifies Creditor’s Votes Objecting to Chapter 11 Plan