If you ask the average person (a non-bankruptcy lawyer, that is) what they know about bankruptcy, chances are they will reference the Bankruptcy Code’s “automatic stay” provisions in their answer. That is because, the automatic stay, which is found in section 362(a) of the Bankruptcy Code, is considered one of the most fundamental tenets of bankruptcy law. The filing of a bankruptcy petition triggers the protections of the automatic stay—staying, among other things, “the commencement or continuation . . . of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the commencement of the case under this title.”  Continue reading >>

No Loss is No Defence: Asset-Flipping and Fraudulent Misrepresentation in Receiverships

September 29, 2014

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Caitlin Fell and Mary Angela Rowe. Caitlin Fell is an Associate in the Insolvency & Restructuring group of Osler, Hoskin & Harcourt LLP. Mary Angela Rowe is an Articling Student-at-law at Osler, Hoskin & Harcourt LLP. A court-appointed receiver is bound […]

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Party Like It’s 5775: Rosh Hashanah Wishes for a Sweet New Year

September 25, 2014

It’s Rosh Hashanah – the Jewish New Year, and we at the Weil Bankruptcy Blog are pleased to send wishes for a shanah tovah u’metukah —  sweet, happy, and healthy year to all of our readers (and non-readers too).

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The Weil Bankruptcy Blog: 2014 Mid-Year Review

September 24, 2014

The Weil Bankruptcy Blog team is excited to bring you our Inaugural Review, highlighting important cases, topics, and themes in the restructuring world that we have addressed on the Weil Bankruptcy Blog in the past few months. In this first edition, we look back at interesting entries during the first half of the year. Going […]

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Double Dipping? Section 503(b)(9) and the New Value Defense to Preference Liability

September 23, 2014

The 2005 Amendments to the Bankruptcy Code ushered in section 503(b)(9) of the Bankruptcy Code, which grants trade creditors an administrative expense for goods sold to the debtor in the ordinary course of the debtor’s business and that the debtor received within 20 days prior to the commencement date. Trade creditors also may face preference […]

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Interview with Bridget Marsh, Deputy General Counsel of the LSTA on Meridian Sunrise Village

September 22, 2014

We previously covered the Meridian Sunrise Village case on the Bankruptcy Blog here. As you may remember, this case turned on a choice between two competing interpretations of “financial institution” under a $55 million loan agreement governed by Washington state law. Distressed debt funds in this case had sought to acquire the debt of a […]

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Bank for Sale – Involuntary Petition Against Bank Holding Company Sustained

September 19, 2014

During the 2008 financial crisis and its aftermath, it became commonplace for a distressed bank to be taken over(night) by the Federal Deposit Insurance Corporation (FDIC) and then sold, that same day, to another bank (or bank holding company) that agreed to take on the depository liability associated with the failed bank in exchange for […]

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