Fourth Circuit Upholds Bank’s Disclaimer of Liability

Banks regularly enter into commercial relationships with their customers such as opening new depository accounts. These relationships are often contractual in nature and seem relatively straightforward until an unexpected incident occurs that causes the relationship to unravel. What then are the duties owed by each party to each another? The default rule seems to be […]

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Can Golden Shares Block a Bankruptcy Filing?

The term “golden shares” is often referred to equity interests held by a specific party—commonly a lender or investor—that authorize such party to block or prevent a corporate entity from filing bankruptcy. Such shares are often negotiated by a party that wants to ensure that its consent is obtained before any bankruptcy is commenced. Without […]

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Does the Bankruptcy Code Adequately Protect Lessors?

The Bankruptcy Code often instructs a trustee or debtor to perform an act or make an election within a certain time. Sometimes the relevant provisions are intended to benefit a party in interest who is affected by a debtor’s or trustee’s action or election. Unfortunately, some of the provisions that prescribe a trustee or debtor […]

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