William L. Siegel
William L. (Bill) Siegel is a Shareholder and Section Head of the Cowles Thompson Bankruptcy & Creditors’ Rights Practice Group as well as a member of the Corporate and Business Law Practice Group.
Articles Written By William Siegel
Categories
Bankruptcy
Lender liability lawsuits have generally been few and far between. However, recently, a Chapter 7 trustee obtained a judgment against a lender premised on the lender’s bad acts against the debtor prior to the filing of a bankruptcy Chapter 11 reorganization, which was subsequently converted to a Chapter 7 liquidation.
Have you ever thought about the effect the “Notwithstanding” Clause in an agreement would have over a specific provision of a contract? Most people would think that it would negate a specific provision in the contract — but not necessarily so, as indicated by the U.S. District Court for Delaware…
The Fifth Circuit Court of Appeals holding in Raymond James & Associates, Inc. v. Jalbert (In re German Pellets Louisiana, LLC), 91 F.4th 802 (5th Cir. 2024), shows that sitting on the sidelines amidst a bankruptcy does not always pay off.
Lease
Under Section 365 of the Bankruptcy Code, a Debtor or Trustee may assume a nonresidential lease and may also assign the lease provided that lease is not in default or termed out.
In In re Royal St. Bistro, LLC, 26 F.4th 326 (5th Cir. 2022), the U.S. Court of Appeals for the Fifth Circuit recognized the rights of lessees when the debtor sells an asset free and clear of all liens, claims and encumbrances.
Fraudulent Conveyance
When the title to real property is transferred for the express purpose of placing it out of reach of a known creditor, the transfer is a fraudulent conveyance.
The following article compares In re Great Lakes Quick Lube L.P., 816 F.3d 482 (7th Cir. 2016), where the Seventh Circuit Court of Appeals ruled that a commercial lease termination –constitutes a fraudulent transfer – and In re Pazzo Pazzo, Inc., No. 21-2344, 2022 WL 17690158 (3d Cir. Dec. 15, 2022), where the Third Circuit Court of Appeals ruled otherwise.
