The COVID-19 pandemic has caused massive disruption across the globe, resulting in a significant uptick in U.S. restructuring activity. According to AACER, a database of U.S. bankruptcy statistics, an estimated 7,128 business...more
1/29/2021
/ CARES Act ,
Chapter 11 ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Economic Downturn ,
Paycheck Protection Program (PPP) ,
Small Business ,
Small Business Loans
On January 17, 2017, the U.S. Court of Appeals for the Second Circuit issued an opinion in Marblegate Asset Management v. Education Management Corp., 15-2124-cv(L), 15-2141-cv(CON) (2nd Cir. Jan. 17, 2017), overturning a...more
1/27/2017
/ Appeals ,
Bonds ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Fraudulent Conveyance ,
Lenders ,
Payment Terms ,
Section 316(b) ,
Secured Notes ,
Senior Indenture ,
Trust Indenture Act
In the past decade, Chapter 11 practice has witnessed the rise of a new phenomenon: structured dismissals.1 Broadly speaking, the term structured dismissal is an umbrella term for a dismissal order that includes additional...more
5/30/2015
/ Appeals ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 7 ,
Class Action ,
Commercial Bankruptcy ,
Commercial Truck Drivers ,
Corporate Conversions ,
Creditors ,
Fraudulent Conveyance ,
Structured Dismissals ,
WARN Act
On May 26, 2015, the U.S. Supreme Court issued its ruling in Wellness International Network, Ltd., et al. v. Sharif. The Wellness decision clarifies one of the most significant open issues created four years ago by the...more
The Bankruptcy Code's so-called "cramdown" statute provides debtors with a significant tool that can be used to impose a reorganization plan upon recalcitrant secured lenders, subject to fulfillment of certain requirements....more
The last major revision to U.S. business reorganization laws occurred in 1978. Since then, companies’ capital structures have become more complex and rely more heavily on leverage, including secured debt in particular; their...more
On June 9, 2014, the United States Supreme Court issued its highly anticipated ruling in Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.). The Bellingham decision clarifies one of the...more
Chapter 11 of the U.S. Bankruptcy Code is the most well-developed law of any insolvency regime in the world for helping troubled companies restructure their affairs. Some nations, like Canada and the United Kingdom, also have...more
On May 13, 2013, the U.S. Bankruptcy Court for the District of Delaware confirmed a prepackaged Chapter 11 plan of reorganization in the case of Central European Distribution Corporation (CEDC) that incorporated an unmodified...more