Good News for Equipment Lessors – Priority for Idle Equipment!
By: Peter C. Califano, Esq.
GOOD NEWS FOR EQUIPMENT LESSORS – PRIORITY FOR IDLE EQUIPMENT In March 2018, the United States District Court for the Western District of Louisiana[1] affirmed a Bankruptcy Court’s order allowing an administrative expense claim for leased equipment that sat idle and unused for the initial 60-day period after the debtor-lessee filed a Chapter 11 […]
Dealing with Liquidated Damages In and Out of Bankruptcy
By: Robert S. Bernstein, Managing Partner, Bernstein-Burkley, P.C. [1]
Dealing with Liquidated Damages In and Out of Bankruptcy When utilized in contracts and leases, a liquidated damages clause can serve as a tool to avoid unnecessary litigation. In situations where a party has breached the terms of a lease, the parties can include a liquidated damages clause in order to determine the amount […]
Forebearance Agreement Drafting Tips
By: Jay L. Welford - LEAN Attorney at Jaffe, Raitt, Heuer & Weiss, P.C.
Before a lender/lessor engages in a negotiation with its borrower/lessee regarding a proposed or requested forbearance arrangement, it is recommended that the following topics be used as a checklist for the negotiation process and for inclusion in the forbearance agreement itself. Skilled counsel can customize these concepts to maximize the leverage of the lender/lessor and […]
Lessors Beware of the Enforceability of Stipulated Loss Value Tables
By: LEAN Attorneys Frank Peretore, Robert L. Hornby & Ryan O’Connor - Chiesa Shahinian & Giantomasi PC
A recent ruling by a judge in the influential Bankruptcy Court for the District of Delaware may indicate that Stipulated Loss Value tables are more at risk than is commonly believed in the industry. The opinion arose in a Chapter 11 bankruptcy case filed by Tidewater Inc. and its affiliated debtors (the “Tidewater Debtors”), entities […]
LEAN Lawyer Peter Califano Helps Lead National Effort to Amend the Bankruptcy Code.
By: LEAN Staff
Bankruptcy Venue Reform Bill Introduced in Congress On January 8, 2018, Senators John Cornyn (R-TX) and Elizabeth Warren (D-MA) introduced a bill (S. 2282) that would rebalance how Chapter 11 bankruptcy cases are distributed throughout the country, by eliminating the state of incorporation for commencing a bankruptcy case, and instead, require corporate debtors to file […]
Bankruptcy Attorneys: Good for More Than Just Bankruptcy
By: Allison Carr, Associate - Bernstein-Burkley, PC
When people hear that an attorney specializes in bankruptcy, they often want to run in the opposite direction. Some people say that being a bankruptcy attorney sounds interesting, but they hope they will never need to employ one. “Bankruptcy,” however, encompasses so much more than just representing debtors who have filed for chapter 7, 11, […]
News from the ELFA Legal Forum
By: Bob Bernstein
My Partner Kirk Burkley and I attended the ELFA Legal Forum at the Don Cesar in St. Petersburg Beach this past Sunday-Tuesday. It was very well attended and many LEAN members were there. There were over 150 inside lawyers in attendance, along with another 100 outside counsel. Not only was there great networking (especially the […]
Counterfeit Equipment Manufacturer’s Just Award – A Nondischargeability Judgment
By: Peter C. Califano, ESQ - Partner Cooper, White & Cooper, LLP
In Chunchai Yu v. Nautilus, Inc. (In re Chunchai Yu) No. 16-1045 (BAP 9th Cir. August 11, 2016) the Ninth Circuit Bankruptcy Appellate Panel affirmed the bankruptcy court’s determination that a $4 million default judgment in favor of Nautilus, Inc. was nondischargeable as a willful and malicious injury pursuant to 11 USC § 523 (a)(6) […]
Mark Wada Listed in The Best Lawyers In America 2017
By: LEAN Staff
Farleigh Wada Witt, a LEAN member firm, is proud to announce that Mark Wada has been named to The Best Lawyers in America© 2017. For the eighth year in a row, Mark was selected by his peers for inclusion in The Best Lawyers in America© in the area of Banking and Finance Law. He has […]
THREE BERNSTEIN-BURKLEY, P.C. PARTNERS RECOGNIZED BY BEST LAWYERS®
By: LEAN Staff
(PITTSBURGH) August 18, 2016 – Bernstein-Burkley, P.C. partners, Robert S. Bernstein, Kirk B. Burkley and Arch W. Riley, Jr. have been selected by their peers for inclusion in the 23rd Edition of The Best Lawyers in America©. Robert Bernstein, Co-Managing Partner, was recognized in the fields of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, […]
