Following hearings on Friday, November 20 and Monday, November 23, 2015, the Bankruptcy Court authorized the Debtors to borrow up to $4 million in new financing from its existing secured lender, Waterton Precious Metals Fund II Cayman, LP, on a senior secured priming and superpriority
basis, and also approved certain customary "first day" motions for relief on an emergency basis.
RA Holding" or "the Company") announced today that RA Holdco 2, the Company's indirect subsidiary, has paid in full that certain Superpriority
Debtor-In-Possession and Exit Facility Master Murabaha Agreement (the "Exit Facility") with Goldman Sachs International, as the Investment Agent for the Participants.
Unlike 20 other states, Arkansas does not have a superpriority
lien law for unpaid assessments, but the Arkansas Supreme Court affirmed a circuit court ruling that a foreclosure purchaser is jointly and severally liable with the seller for assessments owed by the seller up to the time of conveyance.
In connection with its restructuring, James River has obtained a $110 million secured superpriority
term loan DIP financing facility, with Cantor Fitzgerald Securities acting as sole administrative agent and collateral agent, and Deutsche Bank Securities Inc.
281) Scholars fear that unless the pension or wage claims receive a superpriority
or preferred priority, no recovery will be made.
THE PROBLEM: SHORT-RUN SUPERPRIORITY
IN THE DERIVATIVES AND REPO MARKETS
5th DCA 2011), by finding that a municipal ordinance provision conferring superpriority
status to its code enforcement liens is invalid because it conflicts with state law.
granting, by French labor code, of absolute superpriority
to employees' claims for wages covering the last 60 days' wages prior to opening of insolvency proceedings); CODE DE COMMERCE [C.
Moreover, the extra requirement under the CCAA that debtors pay the superpriority
charge for any arrears on wages and pensions persists during a quick sale.
damage to Crown land, the Crown could not use the superpriority
They would likely have had less superpriority
A review of title to the subject property will help identify whether any mortgages or other financial encumbrances are registered against title but will most likely fail to disclose the existence of any superpriority
claims against the assets of the borrower.