New York State lawmakers this week proposed a revised champerty and sovereign debt bill (Senate Bill S5623/Assembly Bill A5290) that now includes changes to the current rate of interest provided by the New York Civil Practice...more
Sovereign debt restructurings are complex processes that involve negotiations with a sovereign’s creditors to alter the terms of existing debt, aiming to restore fiscal sustainability and ensure long-term economic stability....more
The Hong Kong court has sanctioned a scheme of arrangement for a Hong Kong-listed, Bermuda-incorporated fertilizer manufacturer based in the mainland. In doing so, the Honorable Mr Justice Harris also warned holders of U.S....more
The Fifth Circuit recently issued an opinion, Federal Energy Regulatory Commission v. Ultra Resources, Inc., in which it relied on and affirmed its prior 2004 decision — In re Mirant — and held that bankruptcy courts have the...more
Loan agreements and bond indentures often prohibit a borrower or issuer from prepaying a loan or bond prior to its stated maturity without paying a “makewhole premium” or “redemption premium,” which is a sum of money, paid in...more
Following the success of our three-part webinar series produced together with Houlihan Lokey in Spring 2020, we have developed reports summarizing how companies and investors can better navigate distress and insolvency in the...more
Following the success of our three-part webinar series produced together with Houlihan Lokey in Spring 2020, we have developed reports summarizing how companies and investors can better navigate distress and insolvency in the...more
Rick Wynne: The JOAs are very common; they allow co-owners of undivided fractional interests to use a single operator, but they also are particularly vulnerable in a bankruptcy because they’re normally executory contracts...more
Stay informed -
Make sure you are correctly listed on the master mailing matrix or hire counsel to make a formal appearance to make sure you get notices of what's happening in the case. Check to see if a Claims and...more
COVID-19 has produced an instant global economic shock. It is unclear whether the economic effects will be short-term – like the post-9/11 recession – or long-term – like the 2008 global financial crisis. We examine the...more
3/17/2020
/ Airlines ,
China ,
Coronavirus/COVID-19 ,
Crisis Management ,
Cruise Ships ,
Economic Downturn ,
Global Market ,
Hospitality Industry ,
Infectious Diseases ,
Public Health ,
Relief Measures ,
Restaurant Industry ,
Retail Market ,
Revenue ,
Tourism
Tightening trade restrictions and concerns swirling around intellectual property rights are creating new risks for conglomerates faced with financial stress, especially when it comes to selling their assets.
...more
The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee established in 1975 that oversees foreign investment in the U.S. economy. In 1988 CFIUS granted the Executive Office of the...more
7/9/2019
/ 363 Sales ,
CFIUS ,
China ,
Commercial Bankruptcy ,
Divestiture ,
FIRRMA ,
Foreign Acquisitions ,
Foreign Investment ,
Mergers ,
National Security ,
National Security Review Proceedings ,
Personal Data ,
Sale of Assets ,
Shareholders ,
Trump Administration
In Mission Product Holdings, Inc. v. Tempnology, LLC, 587 U.S. ___ (2019), the Supreme Court held that a debtor's rejection of a trademark license does not eliminate the licensee's right to use the trademark through the...more
6/4/2019
/ Bankruptcy Appellate Panel (BAP) ,
Bankruptcy Code ,
Breach of Contract ,
Commercial Bankruptcy ,
Debtors ,
Exclusions ,
Executory Contracts ,
IP License ,
Mission Product Holdings Inc v Tempnology LLC ,
Rescission ,
Reversal ,
SCOTUS ,
Section 365 ,
Split of Authority ,
Trademark Licenses ,
Trademarks ,
Trustees
In In re 1141 Realty Owner LLC, et al., No. 18-12341 (SMB), 2019 WL 1270818 (Bankr. S.D.N.Y. March 18, 2019), Bankruptcy Judge Stuart M. Bernstein of the U.S. Bankruptcy Court of the Southern District of New York recently...more
In a recent decision, EMA GARP Fund v. Banro Corporation, No. 18 CIV. 1986 (KPF), 2019 WL 773988 (S.D.N.Y. 21 February 2019), District Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New...more
In a unanimous 25 February panel decision, the Second Circuit Court of Appeals held that the trustee liquidating Bernard L. Madoff's investment firm can claw back billions in Ponzi scheme proceeds from investors who received...more
New York Bankruptcy Judge Sean H. Lane determined that the Australian debtors in a Chapter 15 foreign recognition proceeding satisfied the U.S. property requirements of Section 109(a) of the Bankruptcy Code on the basis of...more
The Second Circuit recently issued its decision on an appeal to the Momentive Performance Materials Inc. (“MPM”) bankruptcy case. Amongst other issues, the Court found that when determining the appropriate interest rate in a...more
Hogan Lovells partners Chris Donoho and Ron Silverman spoke to DebtWire Radio about current issues concerning cross-border restructurings. They addressed the factors that prompt foreign-based companies to avail themselves of...more