Fifth Circuit finds that make-whole premiums should be considered unmatured interest subject to disallowance under Section 502(b)(2) of the Bankruptcy Code to the extent designed to compensate for future interest...more
Venezuela’s initiative is unlikely to set the stage for a restructuring of international obligations in the face of US sanctions.
Key Points:
- US sanctions will prohibit US persons from engaging in a restructuring of...more
Ruling overturns New York decision rejecting market-based approach.
Key Points:
- Court of Appeals for the Second Circuit requires courts to consider efficient market interest rate, if available, for purposes of chapter...more
Latham & Watkins partners Bradd Williamson and Mitchell Seider discuss the recent Canadian court decision that dismisses ERISA controlled group claims and its potential impact on lenders and other creditors in restructuring...more
From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope or respond to a restructuring.
This Client Alert answers some of the most frequently asked...more
Decision creates a substantial barrier to controlled group claims in Canada, may provide a template for other jurisdictions.
Key Points:
..ERISA controlled group liability is joint and several for all members of a pension...more
Second Circuit’s reversal of controversial restructuring decision may boost confidence among distressed bond issuers.
The recent decision of the United States Court of Appeals for the Second Circuit in Marblegate has...more
From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope, or respond to a restructuring.
This Client Alert answers some of the most...more
Bankruptcy Court reinforces importance of parties’ intent in determining the nature of overriding royalty interests under state law.
On April 2, 2015, the United States Bankruptcy Court for the District of Delaware...more
“For distressed exploration and production (E&P) companies and their lenders, there can be many significant legal issues associated with restructuring,” according to Latham & Watkins partner Mitchell Seider.
Seider is...more
“In 2008, the United States produced on average approximately 5 million barrels of oil a day. By the end of 2014, that number had increased to more than 9 million barrels and the Energy Information Agency predicts production...more
Restructuring decision broadly interpreting bondholder protections under the Trust Indenture Act may significantly impact out-of-court restructurings.
On December 30, 2014, the US District Court for the Southern...more
The recent drop in oil prices will likely spur a flurry of industry restructurings, governed by a complex set of bankruptcy and state laws.
Introduction -
At the close of business on December 31, 2014, the...more
The U.S. Bankruptcy Court’s recent decision highlights the pitfalls of ambiguous intercreditor agreements for senior creditors.
Why the Momentive case is important -
Intercreditor agreements among secured...more
10/16/2014