Claims Traders Beware: Another Bankruptcy Court Determines that Disallowance under Bankruptcy Code Section 502(d) Follows the Claim
insights Douglas J. Schneller · John J. Hanley · Patrick Maschio · April 30, 2020
On April 22, 2020, Bankruptcy Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued an important opinion[1] regarding claim disallowance under Section 502(d) of the United States Bankruptcy Code (“Section 502(d)”).[2] In brief, the Bankruptcy Court, like other courts including the Third Circuit Court of…
LIBOR Fallbacks- Alternative Reference Rates
insights Patrick Maschio · Yaacov P. Silberman · Lisa-Marie Monsanto · Suzanne L’Hernault · Emma R. Larson · Fred Chang · Douglas J. Schneller · May 20, 2019
LIBOR Fallbacks: What’s Next After LIBOR? At the end of 2021, the London Interbank Offered Rate (“LIBOR”) may cease as a reference interest rate.[1] For years LIBOR has served as the leading baseline reference interest rate for loans and other financial instruments such as floating rate notes. In order to minimize or avoid loan market…
Visa & Mastercard Interchange Fees Merchant Class Action Update
insights Douglas J. Schneller · John J. Hanley · Patrick Maschio · April 24, 2019
In recent years merchants, regulators, banks and financial institutions, consumers and other parties have been keenly focused on “interchange fees” charged to merchants by issuers of credit or debit cards for any transaction in which the card is used for a purchase. Interchange fees typically consist of a percentage fee, based on the volume of…