Oren Haker

Oren Haker

Oren Haker is a corporate bankruptcy lawyer who keeps a copy of the Bankruptcy Code within reach at all times. He has advised investors and purchasers on distressed debt opportunities and companies and lenders on out-of-court and in-court financial restructurings and corporate reorganizations. Oren is a recent addition to the Portland, Oregon, community, having survived nine years of legal practice in New York City.

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“The world will end not in fire, or ice, but in a bankruptcy court.”

Those words are from Justice Sotomayor’s opinion in the recent decision by the Supreme Court in Wellness International Network, Ltd. v. Sharif, which decision has generated significant press coverage (and blog postings) among bankruptcy practitioners across the country. This author certainly doesn’t intend to add to the noise out there by reciting the facts and procedural … Continue Reading

Wells Fargo Caught in the Crosshairs of the Automatic Stay

The Weidenbenners (aka the “Debtors”) had four accounts with Wells Fargo that held $6,923.54 when they filed for chapter 7 protection on March 7, 2014.  At the time they filed their petition, they claimed as exempt all of these funds.  Upon learning of the bankruptcy filing on March 12, 2014, Wells Fargo placed an administrative … Continue Reading

Challenging Insolvency through a Recharacterization Claim

An interesting decision from the Bankruptcy Court in the Eastern District of Tennessee shows how a defendant tried to defeat a preference claim by recharacterizing debt on the debtor’s balance sheet as a capital or equity contribution.  In Paris v. SSAB Enterprises, LLC (In re SIAG Aerisyn, LLC), the defendant tried to render the debtor … Continue Reading

Welcome to the Restructuring Debt Review

Welcome to the Restructuring Debt Review (the “RDR”).  The RDR blog is devoted to covering legal developments in the areas of troubled businesses, distressed debt and insolvency law.  Many of the posts will discuss recent developments under the federal Bankruptcy Code as it applies to local, regional, national and international situations.  We intend all of … Continue Reading

Valuing Assets in Chapter 11 – A Moving Target

A recent decision out of the First Circuit Court of Appeals illustrates the importance of the value of the collateral of creditors with fulcrum security, as that value relates to creditors’ rights to pendency interest. In re SW Boston Hotel Venture, LLC, et al. involved a failed construction project by SW Boston Hotel Venture, LLC … Continue Reading

The Muddy Waters of Claim Classification

The chapter 11 case of In re Hyatt out of the Bankruptcy Court for the District of New Mexico illuminates a debtor’s use of claim classification to allocate creditors different recoveries under a liquidating plan.  While this debtor was ultimately successful in getting its Disclosure Statement approved by the Bankruptcy Court, this strategy ultimately hinges … Continue Reading

Credit Bidding in Bankruptcy – Not So Sacrosanct

In devising loan-to-own lending strategies, the Delaware Bankruptcy Court’s decision in In re Fisker Auto. Holdings, Inc. serves as a warning shot to secured lenders that private sales on an  expedited basis are hard sells to a bankruptcy judge. Fisker Automotive Holdings (“Fisker”) produced hybrid electric cars but ran into financial distress due to operating … Continue Reading
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