District Court Enron Opinion: A Pyrrhic Victory for Traders
by: Ken Coleman
Allen & Overy LLP; New York
Hugh McDonald
Allen & Overy LLP; New York
On Aug. 27, 2007, the District Court for the Southern District of New York reversed and remanded two decisions that had been appealed from the bankruptcy court in the ongoing Enron case that had denied a motion to dismiss an action for equitable subordination and disallowance of certain claims. In so doing, the district court has, at least temporarily, quelled a firestorm of debate over an issue that goes to the heart of the claims and debt-trading world: whether a claim can be transferred free and clear of a seller’s bad conduct.
Collins & Aikman Selling Intellectual Property Portfolio
Collins & Aikman has mounted an intense marketing and sales initiative for the remaining intellectual property and intangible assets of Collins & Aikman. The company (and its predecessor companies, i.e., Textron Automotive, Manchester Plastics, etc.) is an industry leader in innovative interior and exterior automotive technologies. The intellectual property portfolio includes unique and proprietary products and processes that provide customers with increased value necessary in establishing and sustaining a significant position in today's intensely competitive global market. This global intellectual property portfolio is an enabler for attaining leadership in vehicles and components. Among other global industries that will have interest in these bundles are the chemical and plastics industries, as well as aircraft components manufacturers, and even plastic coated consumer goods manufacturers, such as laptops, PDAs, BlackBerrys, etc.
ABI’s 19th Annual Winter Leadership Conference: Committee Educational Session Agenda
Asset Sales
The committee will meet on Friday, Dec. 7, from 3:45 to 5:15pm to discuss Continuing Turmoil and Crisis in Subprime Mortgages and Challenges and opportunities for restructuring professionals.