February 25, 2009
Saturday, May 25th
Last update10:24:46 AM
Trending ..... Bowman v. Monsanto: SCOTUS on Self-Replicating Technologies (eg Seeds) ..... Broker-Dealer Faces FCPA, Travel Act and Securities Fraud Charges for Venezuelan Payments ..... NLRB's Employee Rights Poster Comes Down ..... Ralph Lauren Settles FCPA Charges ..... Kiobel: SCOTUS Sends Alien Tort Statute Packing ..... DoJ Cuts Corporate Plea Agreement Carve-Out ..... The SEC's Netflix Report: Regulation FD and Social Media ..... Changes to DGCL Would Simplify Back-end Mergers ..... SCOTUS Decides Comcast v Behrend ..... Standard Fire: SCOTUS on CAFA Amount in Controversy Rules ..... Kallick: DE Board Enjoined from Opposing Rival Slate ..... Advisers Falling Short on Custody Rule ..... How Bad Will it Be? That is Sequestration ..... Gabelli v. SEC: SCOTUS on Limitations Period for Federal Enforcement Actions ..... HIPAA Omnibus Rule ..... Final FATCA Regs ..... PPACA: Play or Pay ..... DOJ/SEC Issue FCPA Guidance .....
February 2, 2009
This Update reviews Chapter 13 of the Bankruptcy Code and its cram-down feature in light of bills in the House and Senate that would allow bankruptcy judges the power to cram-down mortgages to their current value (thus effectively turning any amount of secured debt in excess of the revalued mortgage into unsecured debt) using Chapter 13. Noting that there “[t]here is a sense of inevitability that Congress will pass legislation allowing a Chapter 13 bankruptcy plan (also referred to as a wage-earner’s plan),” the Alert reviews how a cram-down will work in respect of mortgages and the likely impact of the “tsunami” of Chapter 13 filings (predictions of 2 to 3 million) on the financial services industry.