Giurlando to lead corporate trust business for CSC CSC, a business, legal, tax, and digital brand services provider, announced the addition of Steve Giurlando to its Global Financial Markets (GFM) division, leading its wholly-owned corporate trust and agency business development efforts subsidiar
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The United States Bankruptcy Court for the Southern District of Texas recently clarified the administrative expense standard applicable to indenture trustees by holding that they can recover fees and expenses as administrative expenses only when they make a “substantial contribution.” This standard requires a greater showing than “benefit to the estate,” which is the general administrative expense standard.
In re Sanchez Energy Corp., No. 19-34508 (Bankr. S.D. Tex. May 3, 2021).
Background
Sanchez”) issued two indentures for certain senior notes for which Delaware Trust Company (“
DTC”) acted as the successor Indenture Trustee. The confirmed chapter 11 plan called for payment in full in cash for holders of allowed administrative claims. The terms of the indentures indicated that DTC would be entitled to payment for fees and expenses, and that these fees and expenses may be classified as an administrative
1384 Meadow Lane
UPDATED, May 14, 2021, 6:45 p.m.: Home sellers’ usual strategy is to list in the spring, when buyers are most active. But Hamptons buyers could hardly be more active than they have been in recent months. Jonathan Miller, president of appraisal firm Miller Samuel, gave
The Real Deal a rundown of the 20 most expensive South Fork deals to close through April 30, 2021.
Topping the list of most expensive home sales is this East Hampton deal that closed in March, according to Miller Samuel. The property sits on nearly eight acres and the home a gross floor area of 15,421 square feet. The residence belonged to Life Savers heiress June Noble Smith Larkin Gibson before she died at age 98 last year. The six-bedroom, five-bathroom home was listed for $72 million in August 2020 and reduced to $67 million two weeks later. Brown Harris Stevens’ Peter Turino and Christopher Burnside were the listing agents.