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Monthly Archives: July 2015

Lawyer Limelight: Suzzanne Uhland (Lawdragon)

Suzzanne Uhland once wrote that she started out her legal career “believing that ‘professionalism’ was equated with ‘toughness’ and maintaining aloofness.” But she says the upward spiral of her career at O’Melveny & Myers is due far more to learning the importance of empathy, openness to other points of view and teamwork. As head of… Read More…

Purchase of Assets in Bankruptcy Sales Is Not Always ‘Free and Clear’

A fundamental cornerstone of the modern bankruptcy paradigm involves companies taking the opportunity to restructure through the sale of assets that are “cleansed” by the courts. While bankruptcy law varies from one state to another, the majority of jurisdictions provide broad protections to those who buy assets in bankruptcy proceedings, shielding the buyer from the… Read More…

Bankruptcy Bill Increases Rights of Suppliers of Goods

In 2005, many commentators focused on the ways in which the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) impacted individuals filing for chapter 7 bankruptcy. However, as with many modern pieces of legislation, important aspects of the law were frequently overlooked. One of the most important provisions, which amended the Bankruptcy Code’s Section 503(b),… Read More…

Third Circuit Overrides Repo Agreement Damages Clause

The United States Court of Appeals for the Third Circuit effectively overrode a repurchase agreement (“repo”) damages provision with its decision in Credit Agricole v. American Home Mortgage Holdings, Inc. in early 2011. The court affirmed a Bankruptcy Court ruling that attested to the valuation of deficiency claims in the event of bankruptcy on the… Read More…

California Bill Proposes Limits to Municipal Bankruptcy

In 2010, the California state legislature revisited a bill that would restrict its ability to provide relief in the event of a municipal bankruptcy. Under the proposed law, California municipalities seeking to file for bankruptcy would first have to obtain approval from a state commission. Chapter 9 of the federal bankruptcy law deals specifically with… Read More…