Creditors Practice Section

This section was created for attorneys who are in the creditors practice field. It provides its members the opportunity to exchange information with other practitioners in this area of practice, provides timely CLE and legislative updates.

Chair
Law Office Hall & Associates
223 Madison Street, Suite 212
Madison, TN 37115
(615)868-4101
Immediate Past Chair
Attorney at Law
1275 Habersham Way
Franklin, TN 37067
(615)403-6556
Staff Coordinator
Tennessee Bar Association
221 4th Avenue N. Suite 400
Nashville, TN 37219
(615)383-7421

Mt. Gox Opens Online Claim Filing for Corporate Creditors

Corporate creditors are now able to enter claims for refunds of crypto assets held by the now-defunct Tokyo based Bitcoin (BTC) exchange, Mt. Gox, CoinDesk reports. In early 2014, Mt. Gox was hacked and nearly 750,000 BTC was stolen, valued around $473 million at the time. The theft quickly led to the exchange’s bankruptcy. Mt. Gox creditors have been working for years to retrieve their funds. Last year, creditors filed a petition to move Mt. Gox out of the bankruptcy case and into civil rehabilitation; it was approved this June. Former corporate users have until Oct. 22 to file proof backing up their refund claims.

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Sovereign Bilateral Creditor Collaboration Encouraged by IMF

Low-income countries that have built up high levels of debt from non-traditional sources are a growing cause of concern, according to the managing director of the International Monetary Fund, Christine Lagarde, Reuters reports. At a sovereign debt restructuring conference, Lagarde warns that debt restructuring cases with non-traditional lenders are going to require better collaboration. Non-Paris Club providers of credit, like China, often do not have developed guidelines on how to restructure debts. She advised borrowers and their new creditors to be more transparent about their liabilities to prevent debt from spiraling into massive government obligations.

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