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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

At the time Celsius filed for bankruptcy on July 13, 2022, it had approximately 600,000 Earn Accounts, which consisted of $4.2 At the time Celsius filed for bankruptcy on July 13, 2022, it had approximately 600,000 Earn Accounts, which consisted of $4.2 For more information, click here. On January 4, the U.S.

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Recent Decision on Derivative Standing by a Creditors’ Committee to Challenge a Lender’s Liens

PBWT

In many chapter 11 cases, creditors’ committees can play a vital role in maximizing the recoveries of unsecured creditors. But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. Bankruptcy Judge Joseph N. ’" Id. 3d 96, 100 (2d Cir.

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Only a Party to an Assumed Executory Contract can Assert a Cure Claim

ABI

4] Under the Ground Lease, Debtor was responsible for hiring and paying contractors for developing the retail portion of the George Washington Bridge Bus Station. [5] While the arbitration was pending, Debtor filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code, which resulted in a stay of the arbitration. [7]

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How Businesses Use Corporate Debt Restructuring for Liquidity

Debt RR

Businesses that file for Chapter 11 bankruptcy have all of their affairs (debts, assets, or otherwise) reorganized by a judge. It’s a last-ditch effort to avoid a Chapter 7 liquidation bankruptcy. Retailers Gymboree, Charlotte Russe, Payless, Roberto Cavalli, and Diesel filed Chapter 7 bankruptcies in 2019. Noteholders.

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The Long Road Ahead? Puerto Rico Oversight Board Files Proposed Plan To Restructure The Commonwealth’s Debt And Other Claims

BN Lawyers

Proponents are confident that the Plan provides not only a framework to reduce the Commonwealth’s debt to sustainable levels, but a path to exit bankruptcy. Local retail bondholders have the opportunity to receive taxable bonds with monthly interest payments. billion to $1.5