British Virgin Islands
Restructuring & Insolvency Comparative Guide for the jurisdiction of British Virgin Islands, check out our comparative guides section to compare across multiple countries
The Wall Street Journal reports that hedge-fund founder, Dan Kamensky, was sentenced to six months in prison for bankruptcy fraud in connection with his attempt to quash a competing bid for shares...
Akin Gump Strauss Hauer & Feld LLP
Welcome to the first Akin Gump client alert sub-titled Make (Whole) a Minute. These alerts are designed to be short digestible updates...
Troutman Pepper Hamilton Sanders
When is a loan not a loan? The SDNY Bankruptcy Court in In Re: Live Primary, LLC held that a $6 million start-up loan was actually an equity contribution after analyzing the terms of the transaction and the intent of the parties.
Stites & Harbison PLLC
Although the Bankruptcy Code does not define "executory contract," the widely adopted definition explains it as a "contract under which the obligation of both the bankrupt and the other party to the ...
Over the past year, the Covid-19 pandemic upended many industries. While the construction industry has largely been able to operate throughout the pandemic...
After more than one year since the Paycheck Protection Program, or PPP, was established pursuant to the US Cares Act in March 2020, the Small Business Administration ("SBA") has recently reversed...
Bloomberg reported that USA Gymnastics asked the Southern District of Indiana Bankruptcy Court to enforce the automatic stay and enjoin litigation filed by four plaintiffs seeking to hold...
Ward and Smith, P.A.
To be eligible for a Paycheck Protection Program ("PPP") loan, the applicant must certify on the borrower application that the applicant and any owner of 20% or more of the applicant are not "presently involved in any bankruptcy."
Jenner & Block
The debtor violated numerous state court orders in actions to recover amounts he misappropriated. The state court held him in contempt and imposed monetary sanctions and ordered him to stop...
Cadwalader, Wickersham & Taft LLP
Lenders often require their borrowers to be "special purpose entities" in real estate transactions.
As businesses emerge from COVID with a significant amount of corporate debt, the landscape in the financial markets has also evolved: The focus on ESG issues has intensified.
In a March 2021 decision in the jointly administered bankruptcy cases of Fencepost Productions, Inc. and certain of its affiliates, Judge Dale L. Somers
The Wall Street Journal reported that the wave of cash raised by special-purpose acquisition companies (SPACs)
Bloomberg and CNN reported on the potential impact the pause in the use of Johnson & Johnson's Covid-19 shot could have.
In its recent opinion arising out of the Orexigen Therapeutics Inc. bankruptcy case, the US Court of Appeals for the Third Circuit affirmed that while a creditor retains its direct setoff rights...
A recent decision by the United States District Court for the Southern District of New York highlights directors' fiduciary duty to evaluate all aspects of multi-stage transactions ...
Cadwalader, Wickersham & Taft LLP
The CFTC published in the Federal Register amendments to the bankruptcy regulations (CFTC Rules Part 190) to "reflect current market practices and lessons learned from past commodity broker bankruptcies."
Breaking with a Sixth Circuit decision to the contrary, in a March 2021 decision in Stewart v. Holland, the District Court for the Western District of Pennsylvania held that unfair labor claims brought by the Department of Labor ...
A recent New York Times article highlights the challenges oftentimes faced by smaller vendors in large bankruptcy cases.