• LAWRENCE RUTKOWSKI posted an update in the committee Committee logo of Maritime Bankruptcy and InsolvencyMaritime Bankruptcy and Insolvency 6 years ago

    For your guidance, we now have a subject for discussion at our Fall meeting in Napa. A formal agenda will follow but our member (and my colleague) Robert Gayda will address Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware decision regarding the enforceability of an Stipulated Loss Value provision in the Tidewater bankruptcy cases, ultimately ruling that the provision in question was an unenforceable penalty provision. Given the growing prevalence of lease financing in shipping we may expand upon this topic to cover lease financing in general and merge our meeting wit that of the Marine Finance Committee.