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Category Archives: News
Cadwalader Recognized by Financial Times Innovative Lawyers for Work on Prominent Energy Deals
Cadwalader again ranked among the top 25 Most Innovative Law Firms in the annual Financial Times US Innovative Lawyers report released today. The firm was highly commended in Finance for use of legal challenges to persuade power company Dynegy to abandon an aggressive restructuring plan, and … Continue reading
Posted in News
Tagged American Renewables, biomass financing, distressed energy, Dynegy, Financial Times
Download the June 14 Distressed Energy Investments Program Materials
On June 14, Cadwalader hosted a discussion on the ever-changing business landscape for energy companies created by recent market changes, FERC regulations and the Dodd-Frank Act. Keynote speaker, The Honorable Donna L. Nelson, Chairman of the Public Utility Commission of … Continue reading
Posted in News
Tagged distressed energy, Dodd-Frank, ERCOT, FERC
Join Cadwalader on June 14 for our Distressed Energy Investments Program
Distressed Energy Investments: Grappling with Generation Restructuring in an Adverse Market Cadwalader, Wickersham & Taft LLP will host a discussion on the ever-changing business landscape for energy companies created by recent market changes, FERC regulations and the Dodd-Frank Act. Keynote … Continue reading
Posted in News
Tagged distressed energy, Dodd-Frank, ERCOT, FERC, MF Global
Seventh Circuit Holds Companies Liable for Insolvent Affiliate’s Pension Obligations
The Seventh Circuit Court of Appeals recently affirmed a district court decision holding that two limited liability companies were jointly and severally liable for the pension obligations of a third, insolvent affiliate that had ceased making contributions to a multiemployer pension fund. Central States, Southeast and Southwest Areas Pension Fund v. SCOFBP, No. 10-3633 (7th Cir. Dec. 27, 2011). Continue reading
Posted in News
Tagged Pension, Seventh Circuit
“New Value” Provided by Subsidiary Is No Defense to Preference Attack Launched Against Parent
On December 30, 2011, Judge Stuart M. Bernstein of the Bankruptcy Court for the Southern District of New York denied the motion of defendant Best Buy Co., Inc. for partial summary judgment on the issue of whether any recovery of a prepetition transfer made to Best Buy by a debtor must be reduced by subsequent new value provided to the debtor by one of Best Buy’s affiliates. The Responsible Person of Musicland Holding Corp., v. Best Buy Co., Inc. (In re Musicland Holding Corp.), Case No. 08-01023, 2011 WL 6880675 (Bankr. S.D.N.Y. Dec. 30, 2011). Continue reading
Posted in News, Plans/Confirmation
If Your Signature is On It, You’d Better Have Personally Reviewed It
That was the admonition Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York recently delivered to a partner and his law firm. The Court held that the partner’s failure to personally review a proof of claim that an attorney at his firm submitted to the Court under the partner’s signature, but which the partner had not personally reviewed, violated Bankruptcy Rule 9011.[i] Continue reading
Posted in Claims, News
Tagged Obasi, Rule 9011, Southern District
Bankruptcy Bullets – In re Yellowstone Mountain Club, LLC, No. 08-61570-11, 2011 WL 4625381 (Bankr. D. Mont. Sept. 30, 2011)
On September 30, 2011, the U.S. Bankruptcy Court for the District of Montana held, on remand, that (i) a global settlement initially approved on June 9, 2009 was subject to proper notice, proposed in good faith, and fair and equitable, … Continue reading
Posted in Claims, News, Plans/Confirmation
Tagged global settlement, notice
Living Wills: FDIC Modifies, Finalizes Rules
The final rule modifies the prior proposed rule in a number of ways and generally reduces the burden on financial institutions – though the burden remains significant. Continue reading
Posted in Living Wills, News
Tagged Dodd-Frank, FDIC, Federal Reserve, Living Wills
Living Wills: FDIC Modifies, Finalizes Rules
The final rule modifies the prior proposed rule in a number of ways and generally reduces the burden on financial institutions – though the burden remains significant. Continue reading
Posted in Living Wills, News
Tagged Dodd-Frank, FDIC, Federal Reserve, Living Wills