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​Most Recent Articles & Public Notices:

Review of the NAFER 2018 Annual Conference in ChicagoBy Christopher M. Cahill • 11/12/2018
NAFER (the National Association of Federal Equity Receivers) held another wisdom-rich conference in October, this time at the Drake Hotel in Chicago.  It was the seventh annual event and attracted 200 attendees. The conference included the Training Camp as well as panel discussions on snares and pitfalls for receivers, cryptocurrency,[...]
NOTICE OF DISPOSITION OF COLLATERAL UMB Bank, National Association (“Collateral Agent”), as collateral agent for lenders Pine River Master Fund Ltd. and Pine River Fixed Income Master Fund Ltd. (collectively, “Lenders”), hereby gives notice that Amur Finance IV LLC (“Debtor”) has committed events of default under various agreements including (a)[...]
Absolute Priority Rule in Bankruptcy – Are You Atop the List?By Patrick Maxcy • 11/07/2018
Editor’s Note: This is an updated version of an article published in May of 2013. If you are a vendor, service provider or another unsecured creditor to a chapter 11 debtor, you cannot be blamed for feeling like a duped lover after learning about the bankruptcy of your once devoted[...]
What Constitutes the “Legal Rate” in a Solvent Debtor Bankruptcy Case?By Melanie L. Cyganowski • 10/31/2018
Chapter 11 bankruptcies find the debtor generally to be insolvent, but not always. Occasionally, a debtor will emerge from the bankruptcy process as a solvent entity, and in those situations, Bankruptcy Code §726(a)(5) may entitle creditors of the debtor’s estate to post-petition “interest at the legal rate from the date[...]
PUBLIC NOTICE OF BANKRUPTCY AUCTION: 1212 75th St., Downers Grove, ILBy The DailyDAC Editors • 10/29/2018
Notice of Bankruptcy Auction of 1212 75th St., Downers Grove, Illinois BACKGROUND Executive Summary. Bankruptcy auction of 76,850 square foot retail building on approximately 9.69 acres, commonly known as 1212 75th St., Downers Grove, Illinois (the “Property”), on November 14, 2018, at 2:00 p.m. CT. Bidding at Auction starts at[...]
From Penthouse to Ground Floor – The Penthouse Magazine BankruptcyBy Michele Schechter • 10/26/2018
The Life, Death and Many Reincarnations of Penthouse Magazine Penthouse International, publisher of Penthouse Magazine, sold for $11.2 million in June. The company was worth about $700 million (adjusted for inflation) at its height. The latest Penthouse Magazine bankruptcy highlights just how far Penthouse has fallen. The New Owner The buyer[...]
Lender Liability Is Alive and Well: A Case StudyBy Gary W. Marsh • 10/20/2018
The relationship between a lender and borrower can be complex. The borrower wants capital to run and grow its business and the lenders want to earn a return and eventually get its principal back. If the borrower complies with the terms of the loan, all is good. If the borrower[...]
Dealing with Distress for Fun & Profit— Installment #18—How to Confirm a Chapter 11 PlanBy Jonathan Friedland • 10/18/2018
A written tour of business bankruptcy and its alternatives. This is the latest in the series, Dealing with Distress for Fun & Profit, which you can read from the beginning if you like.  In this bat-installment, we turn to what is, theoretically, one of the most important parts of any[...]