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 ...
Law

Bankruptcy Court Enforces Anti-Assignment Clause and Rejects Assignee's Proof of Claim

The purchase and sale of claims held by creditors against debtors in a bankruptcy proceeding has become a big business. The motivations for the buyer are varied. They include making a profit on any ...
JD Supra

Anti-Assignment Clause Enforced by Delaware Bankruptcy Court

This article was published in the August 16, 2018 issue of Middle Market Growth, a weekly newsletter published by Association of Corporate Growth (ACG). It is reprinted here with permission. On June ...
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, ...