Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Jones Day
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Troutman Sanders LLP
Two recent decisions of the United States District Court for the Southern District of New York raise new hurdles for out-of-court restructurings of notes qualified under the Trust Indenture Act of 1939.
Troutman Sanders LLP
On February 24, the United States Court of Appeals for the Third Circuit addressed, for the second time, an appeal arising out of the Delaware Chapter 11 bankruptcy of SCH Corp., American Corrective Counseling Services, Inc., and ACCS Corp.
Jones Day
On February 26, 2015, testimony was presented to the House Judiciary Committee's Subcommittee on Regulatory Reform, Commercial and Antitrust Law regarding H.R. 870, the "Puerto Rico Chapter 9 Uniformity Act of 2015".
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
When a company begins experiencing financial difficulty, shareholders often ask whether they may be liable under the Federal Worker Adjustment and Retraining Notification ("WARN") Act for violations by the company.
Fox Rothschild LLP
In a fact-heavy 16 page opinion issued by Judge Shannon on March 2, 2015, we get a clear picture of the challenge faced by litigants when opposing aggressive pro-se litigants.
Foley & Lardner
Last week we discussed the Wisconsin Supreme Court's decision in Bank of New York v. Carson permitting circuit courts to force a mortgagee to hold a sheriff's sale.
Fox Rothschild LLP
In conjunction with assuming the lease, the Bankruptcy Code allows the debtor-tenant to assign the lease to a third party.
Dykema Gossett
On December 15, 2008, David Duckworth (the "Borrower" or the "Debtor") borrowed $1.1 million from the State Bank of Toulon (the "Bank").
Fox Rothschild LLP
In a 21 page opinion released February 20, 2015, in the Trump Entertainment Resorts, Inc bankruptcy, Judge Gross, granted the motion of Trump AC Casino Marks, LLC to modify the automatic stay to allow litigation to proceed.
Fox Rothschild LLP
As more companies file for bankruptcy, creditors and other interested parties of a debtor must quickly familiarize themselves with the automatic stay.
Foley & Lardner
Last week the Wisconsin Supreme Court issued its decision in Bank of New York v. Carson, 2015 WI 15, a case we previewed here.
Fox Rothschild LLP
Paul Labov has joined Fox Rothschild as a partner in the firm’s Financial Restructuring and Bankruptcy Department.
McGuireWoods LLP
A recent bankruptcy decision in Florida may have implications for troubled healthcare entities that seek to avoid Medicare termination and preserve reimbursements.
Reed Smith
To achieve bankruptcy remote status, the borrower must be legally separate from all affiliated entities.
Fox Rothschild LLP
One way in which creditors can assert their interests is to attend the Formation Meeting and become a part of the creditors’ committee.
Fox Rothschild LLP
If the debtor-tenant seeks to terminate and surrender the lease, that is "reject it", the landlord may be entitled to a "rejection damage" claim.
Waller Lansden Dortch & Davis
Article from Waller Law.
Bradley Arant Boult Cummings LLP
A confluence of factors, including high debt, spiraling pension obligations, and lower sales and property tax revenues, has forced more municipalities to face insolvency than any time since the 1930s.
Bradley Arant Boult Cummings LLP
On June 9, 2014, the U.S. Supreme Court issued the latest installment in the jurisdictional saga of bankruptcy courts.
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Jones Day
Compared to much of the rest of the world, the United States had the most positive economic, business, and financial news in 2014.
Fox Rothschild LLP
Quicksilver Resources Inc. announced that it would not to make an interest payment of approximately $13.6 million, which was due February 17, 2015, on certain notes that will be due in 2019.
Fox Rothschild LLP
On cross motions for summary judgment, the Bankruptcy Court found the termination statement unauthorized and not effective to terminate JPMorgan’s Term Loan security interest.
Dykema Gossett
On December 15, 2008, David Duckworth (the "Borrower" or the "Debtor") borrowed $1.1 million from the State Bank of Toulon (the "Bank").
Herrick, Feinstein LLP
The Second Circuit's recent decision in the Madoff clawback actions effectively limited the exposure period that "innocent investor" defendants face for the return of transfers they received in connection with the Bernie Madoff Ponzi scheme to two years prior to the date of its collapse.
Reed Smith
As a reaction to the dramatic oil price volatility, many energy companies plan to streamline operations by reducing work force and shedding assets.
Fox Rothschild LLP
On January 22, 2015, New Jersey Governor Chris Christie issued Executive Order No. 171 through which he appointed an Emergency Manager for the City of Atlantic City.
Cadwalader, Wickersham & Taft LLP
Chapter 15 of the U.S. Bankruptcy Code can be a very useful tool for foreign companies or individuals seeking bankruptcy relief in the U.S.
Shearman & Sterling LLP
Facing the imminent bankruptcy of the federal Highway Trust Fund (the "HTF") and the specter of delays and reductions in payments from the HTF to the States, the US Congress last week passed the Highway and Transportation Funding Act of 2014, which extended federal surface transportation programs and funding through May 2015.
Jones Day
Crumbs Bake Shop is undeniably a positive development for entities that license trademarks from financially troubled licensors which may end up filing for bankruptcy.
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