Hints and tips:
...A lawyer for Freeman declined to comment on the request by the US Trustee. Jackson Walker and Jones did not immediately respond to requests for comment....
...“[W]ithout the releases, there is no settlement, the debtors likely would be forced into a Chapter 7 liquidation, and unsecured creditors would probably recover nothing from the debtors’ estates,” Purdue...
...Under the terms of the agreement, the Sacklers, who were not a debtor in Purdue’s bankruptcy, agreed to contribute up to $6bn to the bankruptcy estate in exchange for a release of certain claims from Purdue...
...“There is no disclosure on the profile of real estate debtors,” they wrote. “We assume that all real estate-related debt is at risk.”...
...“It appears that Jones Day is not disinterested and holds an adverse interest against the estate,” the trustee said in a court filing, which also noted that the law firm appeared to be the ‘architect’ of...
...The trustee fee is usually 15 per cent of the amount they get from selling your assets, plus estate agents’ costs....
...The US Trustee, a government office that oversees the bankruptcy system, can object to fees....
...But he may well have been referring obliquely to a common issue in the real estate industry: when loans are renegotiated there is often a “change of valuation basis”....
...After weeks of negotiations, Polaroid debtors converted their claims to those administered under Chapter 7 of the Bankruptcy Code, a liquidation proceeding....
...even an estate agent (though there is nothing to prevent them being a journalist)....
...“They’re using a repo to transform equity into a debt contract. In reality it’s still based on a creditor-debtor relationship....
...“The most cost-effective way to effectuate the liquidation of these estates and maximise value to creditors is to utilise the current employees,” a lawyer for the trustee said in March....
...The judge cited a legal doctrine that bars a trustee from suing to recover for a wrong that the debtor took part in. He described the trustees’ lawsuit as being based on “convoluted theories”....
..., Benson, Torres & Friedman, which represents a trustee for holders of about 18 per cent of senior debt issued before the LBO....
...But what if another state court issues a judgment against a debtor who has set up a domestic APT in Delaware?...
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