|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
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—the
By: Paul A. Rubin
Blake Lapthorn is pleased to announce the appointment of Adrian Owen as a partner in its Insolvency and Business Recovery team.
Based in the firm's Southampton office,
Rehabilitation Procedures in Estonian Courts
Advokaadibüroo Aivar Pilv, Estonia
By the end of October 2009, 79 petitions for rehabilitation have been submitted to the Estonian county courts according to which 45 rehabilitation procedures were initiated. 50 rehabilitation petitions have been submitted to Harju County Court where 26 rehabilitation proceedings were initiated. There have been submitted 12 rehabilitation petitions to Tartu County Court and in 11 cases rehabilitation proceedings were initiated. 12 rehabilitation petitions have been submitted to Pärnu County Court where eight rehabilitation proceedings were initiated. And six rehabilitation petitions have been submitted to Viru County Court.
At the enforcement of the Rehabilitation Act it was proceeded from the notion that the rehabilitation procedure grew vital in the nearest years in connection with the multitude of bankruptcies and the interest of the business operators in rehabilitation increased. The quoted figures indicate that the rehabilitation procedure has proved to be as popular as anticipated. Some examples and recommendations out of judicial practice will help the business operators at the submission of rehabilitation petitions in the future.