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April 19 & 20, 2018

Four Seasons Hotel - Chicago
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ACIC Private Notes                          February 2018
Welcome to the February 2018 edition of the ACIC Private Notes!

Get ready to stow the parka and grab your sunglasses because, believe it or not, Spring is just around the corner - as is the 2018 ACIC Spring Investment Forum! In this edition, co-chairs, William Bulmer (Prudential Financial) and Catherine Hood (Pillsbury Winthrop), share the first details of the upcoming Forum, which takes place in Chicago on April 19 and 20.

This edition also includes recent case law summaries from the Mid-Atlantic Region (courtesy of My Chi To of Debevoise & Plimpton) and the Midwest Region (courtesy of Michael Robson of Greenberg Traurig).

Last, don't miss the spotlight on some of the ACIC's newest members, prepared by Luke Weedon (Baker Botts).
2018 Spring Investment Forum

The 2018 Spring Investment Forum takes place at the Four Seasons Hotel on April 19 and 20. Please  click here to read a message from the Forum's co-chairs, which reveals this year's theme and a handful of panel topics. More information about how to register, the panels and the speakers will be coming soon!  We look forward to seeing you in Chicago!
Recent Case Law Summaries
Mid-Atlantic Updates
In BOKF, NA v. Momentive Performance Materials Inc. (In re MPM Silicones, L.L.C.), the U.S. Court of Appeals for the Second Circuit (a) affirmed lower court decisions to deny a make-whole premium based on certain language in the applicable indentureand (b) endorsed using a market interest rate in Chapter 11 cramdown plans. Click here to learn more.  
Midwest Updates
Regarding a dispute between senior and junior lenders, in Bowling Green Sports Center, Inc. v. G.A.G. LLC, the Illinois Appellate Court held that in the event of a breach of an intercreditor agreement for not obtaining a junior lender's consent prior to a senior lender's increase of its loan, the junior lender had a superior lien but only to the extent of such increase. Click here to learn more.
In RED Mortgage Capital, LLC v. Shores, LLC, the District Court for the Southern District of Ohio held that the execution of a guarantee acknowledging the existence of an unsigned document satisfied Ohio's statute of frauds with respect to that unsigned document and rendered its provisions enforceable. Click here to learn more.
In In re Spanish Peaks Holdings II, LLC (a proceeding under Chapter 7 of the United States Bankruptcy Code), the U.S. Court of Appeals for the Ninth Circuit authorized the sale of property subject to bankruptcy proceedings free and clear of leasehold interests in a sale (a) where the lessees did not request adequate protection for their leasehold interests prior to the sale and (b) where the Chapter 7 trustee did not affirmatively reject the leases from the bankruptcy estate. Click here to learn more.
In Kaplum v. Edgebrook Acquisition 2, LLC (an action against bank agents of a failed bank), a federal court in Illinois has held that (a) only the Federal Deposit Insurance Corporation receiver has standing to sue bank agents for derivative claims of unlawful dissolution or breach of fiduciary duty and (b) an individual must allege harm to himself in order to have standing. Click here to learn more.

New Member Spotlight
The ACIC is thrilled to welcome the following new members. To learn more about some of these fine folks,  click here !
New ACIC Members since June 2017
  • Christina Elizabeth Humphreys Jacobs (Aegon Asset Management)
  • Manuel Rodriguez (Avila Rodriguez Hernandez Mena & Ferri)
  • Lea Kate Rosenthal (Greenberg Traurig)
  • Lonneke M. Purucker (Greenberg Traurig)
  • Paul D. Barbato (CUNA Mutual Group)
  • Joshua Deason (Willkie Farr)
  • Douglas Doetsch (Mayer Brown)
  • Meredith Szwed (MetLife Investments)
  • Victoria Weir (Morgan, Lewis & Bockius)
  • Aaron Wernick (Metropolitan Life Insurance Company)
  • Amy Callow (Barings)
  • Nicole Windsor (Chapman and Cutler)
  • Matthew Anthony Porter (AIG Investments)
  • Amanda Lynn Welters (Thrivent Financial)