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2017 Spring Investment Forum - Save the Date
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April 27-28, 2017
Four Seasons Hotel - Chicago
120 East Delaware Street
Chicago, IL 60611
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From Advantus: click here.
From State Farm: click here.
From Allstate: click here.
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To learn more about the ACIC website and how to update your bio,
click here
(bio information is around the two-minute mark).
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Questions or comments about this edition? Please provide feedback here with the subject heading "Monthly Newsletter Feedback".
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ACIC Private Notes
March 2017
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Welcome to the March 2017 Issue of the ACIC Private Notes!
In this issue, you will find a message from our Spring Forum co-chairs, Melody Cross and Mary Jo Quinn, providing details on the interesting program planned in Chicago on April 27th and 287th. We look forward to seeing you there! This month we want to extend a warm welcome to our newest ACIC members. Kimberly Perdue provides a brief spotlight on some of our new members' profiles as well as some insight into their motivations for joining the ACIC. You will also find summaries of recent case law developments of interest from the Mid-Atlantic Region from My Chi To of Debevoise & Plimpton LLP and the Mid-West Region from Michael Robson of Greenberg Traurig, LLP, and a client case alert from Chapman and Cutler LLP. Thank you to our authors.
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 Please join us in Chicago at the Four Seasons Hotel for our "Off the Beaten Path" Spring Forum which will navigate the peaks and valleys of investments and regulatory compliance. To learn more about this event from our co-chairs, please click here,
click here
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Please remember to join us tomorrow, March 8th, 2017 from 4:00-5:00 EST for ACIC's CLE Presentation via webinar: Recent Battles Over Redemption Premiums and Covenant Enforcement for Bonds.
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ACIC extends a warm welcome to the following new members that have joined since February 2016:
Jeemin Chung
Benjamin Cordiano
Dorothy Foster
Anthony Lauro
Myra Michail
Patrick Newton
Ray Ramirez
Lauren Reeves
Sarah Smith
Christopher Tucker
Heather Wenzel
Margaret Yavuz
To learn more about some of our newest members, click here.
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Mid-Atlantic Update
The Second Circuit Court of Appeals reversed the controversial decisions issued two years earlier by the Southern District of New York and has restored certainty to the restructuring world. To read more, click here.
The Southern District of New York issued a ruling based on its reading of an intercreditor agreement that resulted in the unusual result of a subordinated creditor receiving payment of post-petition interest on its claim prior to the payment of principal on a senior creditor's claim. To read more, click here.
The Second Circuit Court of Appeals issued a summary order holding that a detailed description of collateral in a financing statement filed by a secured party, and later amended less than 90 days before a debtor's bankruptcy filing, did not result in an avoidable preference under the Bankruptcy Code. To read more, click here.
Midwest Update
The Indiana Court of Appeals held that (i)-lack of public access hidden by a seller's attempt to induce buyers with false claims about the property's easy access to public roads provided justification for rescission of a sales contract and an award of damages and (ii)-the making payments to an escrow account pending resolution of the access issue did not constitute a breach of contract.
To read more, click here.
The United States Court of Appeals for the Eighth Circuit held that (i) the district court did not abuse its discretion in declining to estop the trustee from arguing that lenders were not "persons aggrieved" with standing to appeal the bankruptcy court's substantive consolidation order, (ii) the "persons aggrieved" doctrine remained valid and would not be reconsidered by the court and (iii) the district court did not err in dismissing lenders under the "persons aggrieved" doctrine. To read more, click here.
The Minnesota Court of Appeals held that under Minnesota law, a promise to forgive debt is a credit agreement and must be in writing in order to be enforceable. To read more, click here.
Law Firm Client Alert
Chapman and Cutler LLP shares with us its recent client alert regarding what lenders and debt investors need to know about how companies are using covenants to restructure their capital structure and prime existing debt. To read more, click here.
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