The status of the new value exception to the absolute priority rule after Norwest Bank Worthington v. Ahlers

Article Abstract:

The new value exception is remaining in effect for the rule of absolute priority in bankruptcy reorganizations. The exception permits equity holders to regain ownership interests if they are necessary, cash equivalent and equivalent to new investment. The exception was set back by the 1988 decision of Norwest Bank Worthington v Ahlers, but more recent decisions have reinforced the exception.

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The imposter rule and the problem of agency under the Revised Uniform Commercial Code: new risks for bank customers?

Article Abstract:

Article 3 of the Revised Uniform Commercial Code has failed to address issues concerning the definition of impersonation, especially when a claimed agent of a principal forges a document in the principal's name. Disagreement among courts over these issues has created problems that should be addressed in further revisions.

California, Interpretation and construction, Laws, regulations and rules, Banking law, Checks, Agency (Law), Check fraud, Impostors and imposture, Impostors, Forgery

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The absolute priority rule and new value: before and after Bank of America National Trust and Savings Association v. 100 North LaSalle Street Partnership

Article Abstract:

The author discusses the application of the new value exemption to the Bankruptcy Code's absolute priority rule in light of the Supreme Court's 1999 decision in Bank of America National Trust and Savings Association v. 100 North LaSalle Street Partnership. The Chapter 11 reorganization process is outlined.

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