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Necessary Proper
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Second Circuit Decision in Momentive: Half a Loaf is Better Than None, But Even the American HomePatient Approach Does Not Conform to the Fair and Equitable Standard
On Friday, the
Second Circuit panel that heard the senior secured lenders’ appeal in MPM Silicones issued its
opinion affirming the lower courts’ holdings in all but one respect, that
being the interest rate applicable to a cramdown / cram-up of the senior
...
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Academic Attempts to Revive the Corpse of Relative Priority
It being a rainy day and wishing to procrastinate some unappealing chores, I spent some time this afternoon looking to see whether the article I had published two years ago concerning the lack of statutory foundation for application of Till v SCS Credit Cor...
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Default interest is at least 4000 Years Old
From my favorite blog, Marginal Revolution , the terms of a debt instrument 4,000 years ago in Anatolia (Turkey):
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Unanimous Supreme Court Delivers Direct Blow to "No Platform" Extremists on College Campuses
In today's opinion in Matal v Ta m , the Supreme Court unanimously (with only Justice Gorsuch abstaining, as the case was briefed and argued during the Obama administration), invalidates the "anti-disparagement" clause of the Lanham Act on First Amendment g...
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Sally Yates Should be Disbarred
I/m no fan of President Trump or his immigration policy, bit I don't know if there has ever been as massive and blatant a departure from professional responsibility as Sally Yates' instruction to all DOJ lawyers this week not to defend their client in pendi...
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New York Times Article on Stanford Sexual Assault Procedures Displays Shocking Ignorance of Relevant Federal Law
Today's New York Times carries a front-page article entitled "A Majority Ruled It Was Rape.  That Isn't Enough at Stanford. "  The article, which extends for two full pages inside the (ever-shrinking) front section, faults Stanford University for failing to...
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Second Circuit Oral Argument in Momentive Performance Solutions - Synopsis and Commentary
I listened to the oral argument before the
Second Circuit in Momentive Performance
Solutions , the appeal taken by the first lien creditors from Judge Drain’s
confirmation decision (1) denying their claim for a make-whole and (2) imposing
a Till -justified ...
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Synopsis of Oral Argument in Jevic
The Supreme Court heard oral argument today in Czyzewski v Jevic Holding Corp, which presents the question of the power of a bankruptcy court to approve a settlement that effects a distribution of proceeds of property of the estate that does not follow the ...
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Zacks Investments Having Trouble Making Up its Mind About Aramark
I went into Fidelity's website to research the stock of Aramark, the food services provider.  Under the "News and Events" tab, these were the four most recent items: Zacks Investment Research, Inc. downgrades ARAMARK from HOLD to SELL. Investars Analyst Act...
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The Puerto Rico Oversight Board Has Been Appointed (Sell on the News).
Yesterday, August 31,
President Obama appointed the 7 voting members of the oversight board for
Puerto Rico under the law colloquially known as Promesa.   The board has a broad charter and a
ridiculously impossible task in front of it.   Back in June, in a ...
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