Creditor's Rights

Scarinci Hollenbeck’s Creditor's Rights practice group regularly provides content on the collection and recovery of debts owed to businesses, organizations, property owners, financial institutions, or individuals. Our content provides insight on dealing with complex and sophisticated creditor's rights matters.

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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Judge questions Archdiocesan bankruptcy plan

U.S. Bankruptcy Judge Susan V. Kelley has agreed to move forward with the bankruptcy reorganization process for the Archdiocese of Milwaukee, which would put the Church closer to exiting bankruptcy proceedings, according to The Milwaukee-Wisconsin Journal Sentinel. The church filed for protection under Chapter 11 of the bankruptcy law three years ago in response to sexual […]

Author: Joel R. Glucksman

May 2, 2014

Bond insurer creates setback for Detroit bankruptcy plan

Detroit is continuing to negotiate with its creditors in order to form a plan to emerge from Chapter 9 bankruptcy. In the latest wrinkle, bond insurer the Financial Guaranty Insurance Company, argued in a lawsuit that Detroit’s plan would illegally discriminate against the city’s third largest group of creditors, according to The New York Times. […]

Author: Joel R. Glucksman

April 4, 2014

Detroit finds bankruptcy deal with big banks

The city of Detroit is still in the process of seeking approval for a plan to restructure its debt, amid complaints from a number of affected parties, including pensioners of the city. In a recent development, on March 3, the city reached a deal with two large investment banks to end expensive interest rate swaps, […]

Author: Joel R. Glucksman

March 14, 2014

Detroit

Creditors Try to Force Evergreen International Airlines into Involuntary Chapter 7 Liquidation

Delford Smith, founder and CEO of Evergreen International Airlines, is struggling to establish a viable financial exit plan for the ailing airline, amid new threats from creditors to push the company into involuntary Chapter 7 bankruptcy liquidation proceedings. The unsecured creditors filed an involuntary petition against Evergreen last week under Chapter 7 of the bankruptcy […]

Author: Joel R. Glucksman

January 3, 2014

Creditors Set To Vote On Patriot Coal Bankruptcy Exit Plan

Patriot Coal Corp. announced that it is currently on pace to emerge from protection under Chapter 11 of the bankruptcy law by the end of the year. The announcement follows a U.S. Bankruptcy Court’s ruling approving the company’s disclosure statement and allowing the company to solicit votes from its various classes on creditors on the […]

Author: Joel R. Glucksman

November 19, 2013

Creditors File Objections to Detroit Bankruptcy

More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy of U.S. bankruptcy law. This is a development that may add significant complexity to the question of whether the struggling city will be permitted to move forward with its bankruptcy reorganization proceedings. Creditors, unions, and retiree […]

Author: Joel R. Glucksman

August 30, 2013

Judge Rules Madoff Trustee Cannot Block $410 Million Merkin Settlement

A U.S. District Judge ruled that Irving Picard, the bankruptcy trustee in charge of the Bernard Madoff case, will not be permitted to block the $410 million Merkin settlement resolving New York state’s claims against Wall Street hedge fund manager Ezra Merkin, the man accused of secretly steering client money to Madoff. Picard argued that a […]

Author: Joel R. Glucksman

April 26, 2013

Judge to Rule Whether GM Bankruptcy Favored Hedge Funds Over Creditors

Bankruptcy Judge to Provide Ruling U.S. Bankruptcy Judge Robert Gerber is expected to hand down a ruling shortly on a controversial provision of the 2009 restructuring of General Motors, the results of which may cost GM upwards of $1 billion dollars. The issue is whether GM unfairly favored hedge fund investors over its unsecured creditors […]

Author: Joel R. Glucksman

January 18, 2013

Investors

Bondholders Confront CalPERS in San Bernardino Bankruptcy Case

Creditors who are the city’s bondholders in the San Bernardino, California, bankruptcy case are displeased with the position taken by the California Public Employees’ Retirement System – or CalPERS – and they are taking their concerns to court. The bondholders filed a legal protest against CalPERS, arguing that the pension fund is seeking preferential treatment […]

Author: Joel R. Glucksman

January 1, 2013

Chapter 9

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