Congressional Democrats spearheaded by Elizabeth Warren (Mass.) and Jerrold Nadler (N.Y.) have proposed sweeping legislation that would overhaul consumer bankruptcy law as we know it. The bill still has a long journey to becoming law and will almost undoubtedly undergo tweaks by the time if/when its finalized. Therefore its important to track the progression and […]
In re Linn Energy, L.L.C., 18-40443 Held that an energy company’s Chapter 11 bankruptcy plan did not entitle a class of lenders to $30 million in post-petition default interest. Affirmed the rulings below.
In re Wade, 18-2564 Held that bankruptcy debtors could not appeal the denial of their motion for sanctions, because they had not filed a petition for permission to appeal, as required under Federal Rule of Bankruptcy Procedure 8006(g). Criticized two circuit precedents that appeared to recognize exceptions to this procedural requirement.
Unable to pay its debt, Puerto Rico recently filed a Title III petition in federal court. Due to low financial resources and persistent creditor collection efforts, Puerto Rico became the first state or territory to seek this type of relief. With rising debt levels continuing to climb (over $114 billion), Puerto Rico turned to Congress […]
