Mondaq USA: Insolvency/Bankruptcy/Re-structuring
Jones Day
January 18, 2017, was the effective date of EU Regulation No 655/2014 of May 15, 2014
Kutak Rock LLP
Many "all assets" UCC financing statements contain language in the collateral description which expands upon, illustrates or explains that "all assets" means all of a debtor's assets.
Burns & Levinson LLP
When entering into a new venture, it is not uncommon for a new legal entity to be formed in order to insulate an existing company from the liabilities associated with the new business.
Mayer Brown
A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows.
Holland & Knight
In a 6-2 decision, the U.S. Supreme Court ruled in favor of the petitioners in Czyzewski, et al. v. Jevic Holding Corp, et al., reversing the decision of the U.S. Court of Appeals for the Third Circuit.
Jones Day
The Nortel court also partially sustained the objection of two investment funds holding 90 percent of the bonds to a portion of the professional fees asserted by the indenture trustee's attorneys.
Jones Day
An important aspect of the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. §§ 2101–2241 ("PROMESA")—the temporary stay of creditor collection efforts that came into effect upon its enactment—was the subject of a ruling handed down by the U.S. Court of Appeals for the First Circuit.
Jones Day
Chapter 15 of the Bankruptcy Code offers an effective mechanism for U.S. courts to provide assistance to non-U.S. courts presiding over the insolvency proceedings of foreign debtors with assets located in the U.S.
Herrick, Feinstein LLP
A seller's failure to give notice of a bankruptcy sale of real property to a party who had a right of first refusal led a bankruptcy court to rule that the right of first refusal survived the seller's bankruptcy...
Jones Day
With its landmark ruling in Deutsche Bank Trust Co. Ams. v. Large Private Beneficial Owners (In re Tribune Co. Fraudulent Conveyance Litig.), 818 F.3d 98 (2d Cir. 2016) ("Tribune 1"), ...
Jones Day
Thus, it concluded that Congress did not authorize a "rare case" exception to the ordinary priority rules.
Jones Day
The ability to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law.
Foley & Lardner
The Court noted that during a reorganization case, bankruptcy courts routinely approve interim distributions of estate assets in ways that violate the priority distribution scheme.
Thompson Coburn LLP
When faced with a recalcitrant debtor, clients sometimes move too quickly to put the debtor into an involuntary bankruptcy, especially when fraudulent transfers become apparent.
Kramer Levin Naftalis & Frankel LLP
This month's issue of Debt Dialogue addresses non-conventional credit events that trigger obligations under credit default swaps...
Stites & Harbison PLLC
The term "absolute priority rule" does not appear in the Bankruptcy Code. Rather, it is a "creature of law antedating the current Bankruptcy Code." Bank of Am. Nat'l Trust & Sav. Ass'n v. 203 N. LaSalle St. P'ship, 526 U.S. 434, 444 (1999).
Herrick, Feinstein LLP
The Supreme Court ruled on March 22, 2017 in Czyzewski v. Jevic Holding Corp. that payments made to creditors pursuant to structured dismissals of bankruptcy cases cannot violate...
Miles & Stockbridge
In a 6-2 decision, the United States Supreme Court reversed the Third Circuit and held that distributions made pursuant to a structured dismissal must follow the Bankruptcy Code's priority rules...
Jones Day
Thus, it concluded that Congress did not authorize a "rare case" exception to the ordinary priority rules.
Jones Day
Expect the Guidelines to be implemented in other significant jurisdictions.
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Holland & Knight
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware issued a decision on Feb. 28, 2017, that has important – and positive – significance for Native American tribal governments...
Herrick, Feinstein LLP
A seller's failure to give notice of a bankruptcy sale of real property to a party who had a right of first refusal led a bankruptcy court to rule that the right of first refusal survived the seller's bankruptcy...
Jones Day
The ability to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law.
Jones Day
An important aspect of the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. §§ 2101–2241 ("PROMESA")—the temporary stay of creditor collection efforts that came into effect upon its enactment—was the subject of a ruling handed down by the U.S. Court of Appeals for the First Circuit.
Seyfarth Shaw LLP
A bankruptcy court overseeing an employer's Chapter 11 bankruptcy proceeding allowed the employer to pay certain unsecured creditors before paying Worker Adjustment And Retraining Notification Act...
Jones Day
The Nortel court also partially sustained the objection of two investment funds holding 90 percent of the bonds to a portion of the professional fees asserted by the indenture trustee's attorneys.
Jones Day
With one exception, the Top 10 List of "public company" (defined as a company with publicly traded stock or debt) bankruptcies of 2016 consisted entirely of energy companies . . .
Smith Gambrell & Russell LLP
In January, the U.S. Court of Appeals for the 10th Circuit reversed a District Court's ruling that a company that settled its CERCLA liability with the federal government in a bankruptcy proceeding...
Thompson Coburn LLP
When faced with a recalcitrant debtor, clients sometimes move too quickly to put the debtor into an involuntary bankruptcy, especially when fraudulent transfers become apparent.
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