Bankruptcy Law and Insolvency Law

A bankruptcy court dismissed Chapter 11 cases filed by two law firms ten months after they entered an assignment for the benefit of creditors, finding the bankruptcy filing was made in bad faith to frustrate ongoing recovery efforts. The decision establishes critical precedent on when debtors can pivot from state assignment proceedings to federal bankruptcy and the limits of contractual termination rights once an assignment is underway.

A U.S. bankruptcy court has recognized bar date orders from a Canadian asbestos restructuring proceeding, marking a significant development in cross-border mass tort resolution. The decision explores whether foreign insolvency proceedings can enforce claims deadlines on U.S. claimants when such procedures differ from domestic bankruptcy practice.

The 2025 restructuring of the Ardagh Group S.A. (Ardagh or the company) capital structure unleashed one of the most controversial—and ultimately consequential—“Restructuring” credit event determination processes...