Over the past few years, one of the universally celebrated success stories in the bankruptcy and restructuring world has been Subchapter V of the Bankruptcy Code. Created by the Small Business Reorganization Act of 2019 (the...more
Jerry Seinfeld and Larry David taught us that you can’t double dip a chip—“it’s like putting your whole mouth right in the dip.” However, the credit markets have recently been focused on a different type of double dip, one...more
Introduction On August 24, 2023, the United States Circuit Court of Appeals for the Second Circuit (the “Second Circuit”) decided Kirschner v. JP Morgan Chase Bank, N.A., addressing the issue of whether notes issued as part...more
The recent collapses of Silicon Valley Bank (“SVB”) and Signature Bank—followed by the bailout of Credit Suisse—have led depositors to look for ways to protect their deposits in excess of the Federal Deposit Insurance...more
Over the past several days, Locke Lord LLP has closely followed the closures of Silicon Valley Bank in Santa Clara, California (“SVB”) and New York based Signature Bank, as well as the ensuing volatility experienced by many...more
At the end of January, the Third Circuit Court of Appeals issued its long-awaited decision in the Chapter 11 bankruptcy case of LTL Management LLC (“LTL”), an affiliate of Johnson & Johnson (“J&J”). In a decision authored by...more
On July 6, 2022, the US Bankruptcy Court for the District of Delaware delivered an opinion recognizing the effectiveness of an “uptiering” transaction—whereby a subset of an issuer’s existing noteholders are issued new notes...more
With the goal of providing financial relief to companies impacted by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) amended the Small Business Act to allow the Small Business...more
11/11/2020
/ Borrowers ,
CARES Act ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business ,
Small Business Loans
WLG's International Corporate Transactions and Restructuring & Insolvency Resolutions groups review and consider some of the strategic opportunities and pitfalls associated with acquiring a financially distressed target....more
11/10/2020
/ 363 Sales ,
Acquisitions ,
Business Opportunities ,
Buyers ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Financial Distress ,
Financing ,
Insolvency ,
Mergers ,
Reorganizations ,
Sellers ,
Strategic Planning
As part of World Law Group's 2020 Fall eConference, the International Corporate Transactions and Restructuring & Insolvency Resolution Groups will host a public webinar "M&A Strategies for the Acquisition of...more
11/4/2020
/ 363 Sales ,
Acquisitions ,
Business Opportunities ,
Buyers ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Financial Distress ,
Financing ,
Insolvency ,
Mergers ,
Sellers ,
Strategic Planning ,
Webinars
On October 9, 2020, a group of first lien lenders filed a lawsuit in the New York Supreme Court against Boardriders, Inc., a California-based surfing and skateboarding apparel company and its equity sponsor, challenging a...more
Serta Simmons Bedding, LLC (“Serta”) offers one of the latest examples of a creative borrower utilizing flexibility in its credit agreement terms to access new liquidity at the expense of its existing senior lenders. Serta is...more
As we have discussed in previous QuickStudies, certain borrowers in industries experiencing particularly adverse economic conditions have taken advantage of flexible terms in their credit agreements to transfer valuable...more
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act”, into law. The CARES Act will provide significant financial relief to individuals and small businesses,...more
On June 19, 2019, Circuit Judge Stephanos Bibas (United States Court of Appeals for the Third Circuit) delivered an important opinion analyzing the enforceability of an intercreditor agreement relative to the distribution...more
On February 15, 2019, following a full bench trial, the Honorable Jesse M. Furman (S.D.N.Y.) entered judgment in favor of Aurelius Capital Master, Ltd. (“Aurelius”) and against Windstream Services, LLC (“Windstream”) in the...more
On September 21, 2018, Marble Ridge Capital (“Marble Ridge”) issued a press release indicating that Marble Ridge had sent a letter to the board of directors of Neiman Marcus alleging that certain transactions entered into by...more
On September 7, 2017, an ad hoc, minority group of J. Crew’s senior term lenders (the “Dissenting Lenders”) filed an amended complaint against J. Crew and its affiliates (collectively, “J. Crew”) in the Supreme Court of the...more
What are the characteristics of the energy companies that are seeking bankruptcy protection at this point in the current cycle?
A: With respect to “upstream” sector companies that have sought bankruptcy protection over...more
Locke Lord is pleased to bring this important and timely discussion to Boston. By leveraging the extensive experience our lawyers bring to the table from the energy, restructuring & insolvency and private equity sectors, we...more