Until 1994, equipment lessors received very little respect in the bankruptcy court system created by the 1978 Bankruptcy Act. Two Congressional amendments restored their rights and enabled them to retain the value of their property. Attorney Lesley Anne Hawes recalls the two amendments that created certainty for equipment lessors.... read more

Monitor 100 2016

Although the absolute priority rule has been a staple in Chapter 11 proceedings for more than a century, 2005 bankruptcy code amendments created an exception that has blurred the intended meaning. A recent 9th Circuit ruling held that the absolute priority rule does not apply to individual debtors in Chapter 11 cases. Attorney Lesley Hawes examines this ruling and its implications for secured creditors and equipment lessors with unsecured guaranties.... read more

March/April 2016