Applying Delaware law, the United States Circuit Court of Appeals for the Third Circuit issued a ruling that will significantly affect the rights of upstream producers of oil and gas and secured creditors generally. The court determined that upstream oil producers did not have automatically perfected security interests in oil they sold prepetition to the debtors. Thus,…

The U.S. Supreme Court recently held that a purchaser for its own account of a defaulted loan is not a debt collector within the meaning of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find this complementary article of interest: U.S. Supreme Court: Filing a Time-Barred Claim in a Chapter 13 Bankruptcy Case Does…

The First Circuit recently ruled that the bankruptcy court lacked the authority to adjudicate disputes under a contract because there was no “arising under,” “arising in” or “related to” jurisdiction — in spite of the fact that the contract itself, previously approved by the bankruptcy court, included a provision giving that court jurisdiction. Learn more here.…