JD Supra

Anti-Assignment Clause in Promissory Note Enforceable under Delaware Law to Disallow Claim Transfer

On June 20, 2018, Judge Carey of the Delaware Bankruptcy Court issued an opinion in the Woodbridge Group of Companies bankruptcies enforcing an anti-assignment clause contained in a promissory note to ...
JD Supra

Buyer Beware: Anti-Assignment Clause in Promissory Note Bars Claim Purchaser from Collecting in Bankruptcy

In In re Woodbridge Grp. of Companies, LLC, No. BR 17-12560-BLS, 2019 WL 4305444 (D. Del. Sept. 11, 2019), the United States District Court for the District of Delaware affirmed an opinion by ...
Yahoo Finance

The Woodbridge Case: Assignability of Promissory Notes (Or How UCC §§9-406 and 9-408 Continue to Confound Judges)

For better or worse, 2018 did not see a large number of notable cases addressing secured transactions issues. One case that did generate attention was the decision of Judge Kevin J. Carey in the ...
The New York Times

The Transfer of Promissory Notes by a Corporation Must it be Done by a Resolution of the Board of Directors?; SUPREME COURT GENERAL TERM. Before Justices Ingraham, Clerke and ...

TimesMachine is an exclusive benefit for home delivery and digital subscribers. About the Archive This is a digitized version of an article from The Times’s print archive, before the start of online ...
Forbes

Lehman Brothers Cited For Repo 105 In Promissory Note Case

In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in September 2010, Claimant Lehman Brothers Holdings Inc. ("LBHI") alleged breach of contract; and unjust ...
Law

The Woodbridge Case: Assignability of Promissory Notes (Or How UCC §§9-406 and 9-408 Continue to Confound Judges)

In her Secured Transactions column, Barbara M. Goodstein discusses 'In re Woodbridge Group of Companies, LLC et al.', which upheld a provision in a promissory note prohibiting transfers. In so doing, ...