Another decision has been issued that reinforces that section 553 does not allow setoff without mutuality, or “triangular setoff.”...more
The Distressed Download Newsletter is a roundup of recent news from Orrick's Distressed Download blog, a resource for the latest news and industry trends in the distressed debt and restructuring markets.
European...more
Recent EU Insolvency Regulation -
The EC Regulations on Insolvency Proceedings (the "EIR") came into force throughout the European Union (the "EU") (except Denmark) on May 31, 2002 with the purpose of setting out the...more
10/7/2015
/ Bankruptcy Code ,
Bernie Madoff ,
Bonds ,
COMI ,
Commercial Bankruptcy ,
Distressed Debt ,
Electricity ,
Environmental Impact Report (EIR) ,
EU ,
High Yield Bonds ,
High-Yield Markets ,
Insolvency ,
Oral Contracts ,
Subordination Agreement ,
UFTA ,
Uniform Voidable Transactions Act (UVTA)
First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act -
On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District...more
7/23/2015
/ Attorney's Fees ,
Bankruptcy Code ,
Bonds ,
Capital Controls ,
Distressed Debt ,
Emerging Markets ,
EU ,
Eurozone ,
Greece ,
Insolvency ,
Municipal Bankruptcy ,
Oil & Gas ,
Preemption ,
Puerto Rico ,
Reclamation ,
Restructuring ,
SCOTUS
On July 6, 2014, Judge Jed S. Rakoff, United States District Judge for the Southern District of New York, declined to extend the reaches of section 550(a) of the Bankruptcy Code abroad to permit the recovery of funds that...more
7/23/2014
/ Asset Transfer ,
Bankruptcy Code ,
Bernie Madoff ,
Clawbacks ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign ,
Foreign Investment ,
Fraud ,
Judge Rakoff ,
Liquidation ,
Ponzi Scheme ,
SIPA