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Recognition of foreign insolvency processes in Colombia

On the 10th of June, during the second part of a hearing with a massive attendance the Superintendence of Corporations (the "Superintendence"), such authority recognized in Colombia the process of insolvency that Pacific...more

Singapore Legal Update - August 2016

MAS Proposes Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and Assets - The MAS Consultation Paper on Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and...more

A lifeboat with conditions: new guidance from the PPF

The Pension Protection Fund (“PPF”) has updated its approach to employer restructuring guidance and its general guidance for restructuring and insolvency professionals. These documents set out certain criteria that should be...more

Finally A Clear Ruling On A Much Needed Bankruptcy Preference Defense

The United States Bankruptcy Court for the District of Delaware has finally clarified that the administrative expense claim for goods delivered post-bankruptcy filing may be set off – dollar for dollar – to reduce any open...more

New Delaware Chapter 15 Filing – Altos Hornos de México, S.A.B. de C.V.

Francisco Javier Gaxiola Fernández, the foreign representative of Altos Hornos de México, S.A.B. de C.V. (the “Debtor”) in a proceeding under Mexico’s Bankruptcy and Suspension of Payments law pending before the First Civil...more

Duty of Consistency Doctrine - Effective Sword for the IRS, but Not Likely a Shield for Taxpayers - Tax Update Volume 2016, Issue...

Two recent cases illustrate the IRS’ ability to successfully argue that taxpayers should not benefit from their own mistakes if they result in less tax being paid. Two recent cases highlight the most current view of the...more

Delaware Organizational Meeting – Last Call Guarantor, LLC

Upcoming Committee Formation Meeting: Monday August 22, 2016, 10:00 AM - Case Name: Last Call Guarantor, LLC - Case Number: 16-11844 (KG)...more

New Delaware (Involuntary) Chapter 11 Filing – Bennu Titan LLC (f/k/a ATP Titan LLC)

Beal Bank USA and CLMG Corp. have filed an involuntary petition under chapter 11 of the Bankruptcy Code against Bennu Titan LLC (f/k/a ATP Titan LLC) before the United States Bankruptcy Court for the District of Delaware...more

Delaware Organizational Meeting – Roadhouse Holdings, Inc.

Upcoming Committee Formation Meeting: Friday August 19, 2016, 12:00 PM - Case Name: Roadhouse Holdings, Inc. Case Number: 16-11819 (BLS)...more

New Delaware Chapter 11 Filings – Last Call Guarantor, LLC et al.

Last Call Guarantor, LLC and eight affiliates have filed chapter 11 cases before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11844)....more

Blog: Rough Waters Could Be Ahead for Those Seeking Protection of Section 546(e) Safe Harbor

A recent decision by the Bankruptcy Court for the District of Delaware in PAH Litigation Trust v. Water Street Healthcare Partners L.P. (In re Physiotherapy Holdings, Inc.), Case No. 13-12965 (KG) (Bankr. D. Del. June 20,...more

Judge Chapman Flips the Script

US Bankruptcy Court for the Southern District of NY Grants Noteholders’ Motion to Dismiss Based on Lehman’s Failure to State Claim With Respect to Flip-Clause Litigation - On June 28, 2016, in what essentially was a...more

Not So Safe After All?

United States Bankruptcy Court for the District of Delaware Holds That Litigation Trustee May Pursue State Law Fraudulent Conveyance Claims, Notwithstanding Bankruptcy Code Safe Harbors - On June 20, 2016, the United...more

New Delaware Chapter 11 Filings – Roadhouse Holding Inc. et al.

Roadhouse Holding Inc. and seven of its affiliates, which comprise the Logan’s Roadhouse restaurant chain, have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No....more

Losing Both Ways: Debtor Diligence in the Identification of Claims

Two recent cases serve as reminders the devil is truly in the details. As to the front-end risks associated with an early § 363(f) sale, in In re Motors Liquidation Company (the “GM” case) we have seen a $10 billion reminder...more

Singapore to Become International Centre for Debt Restructuring

Singapore to Become International Centre for Debt Restructuring August 04, 2016 Singapore is set to adopt the recommendations of the Committee to Strengthen Singapore as an International Centre for Debt Restructuring....more

Bankruptcy Court Broadly Applies Safe Harbors and Rejects Singular Event Theory Precedent

In a decision that parts ways with two prior decisions in the Lehman bankruptcy, Lehman Brothers Special Financing Inc. v. Bank of America National Association, No. 10-3547, Bankruptcy Court Judge Shelley Chapman (who is ...more

Court decides to ‘wait and see’ in its refusal to grant an administration order

Rowntree Ventures Ltd v Oak Property Partners Ltd [2016] EWHC 1523 (Ch) - The High Court recently re-affirmed the discretionary nature of its right to grant an administration order. In this case, the court refused to...more

Environmental Liabilities in Oil & Gas Sales Under Bankruptcy Code Section 363

Since the beginning of 2015, at least 77 companies in the oil and gas industry have sought bankruptcy relief in the United States. The flow of oil and gas company bankruptcies shows no sign of slowing down and, based on the...more

MoFo Brexit Briefing: Flourishing by becoming familiar: how to attract restructuring investors to the post-Brexit UK

The process of Brexit will take years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and working...more

New Delaware Chapter 11 Filing – Halcón Resources Corp. et al

Halcón Resources Corp. et al (NYSE: HK) and 21 affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11724)....more

Direct access to insurers of insolvent entities at last? Third Parties (Rights Against Insurers) Act 2010

After considerable delay the long-awaited Third Parties (Rights Against Insurers) Act 2010, having been amended by the Third Parties (Rights Against Insurers) Regulations 2016, is finally due to come into force on 1 August...more

When a "Golden Share Veto" is Trumped by Federal Public Policy

Last month, the United States Bankruptcy Court for the District of Delaware was faced with a frequently-contested issue: whether a debtor’s bankruptcy petition was filed pursuant to proper corporate authority under state law....more

Michael Fiddy, Co-chair of DLA Piper's global restructuring group, reflects on significant restructuring developments around the...

This edition of Global Insight comes to you shortly after the United Kingdom voted to leave the European Union. The morning after the vote we provided clients with a summary of its immediate impact, stressing that the...more

Australian insolvency law reforms aim to increase business restructuring opportunities

The Australian government is working to significantly reform Australia’s current insolvency laws by mid-2017. The reforms are intended to achieve greater likelihood of business preservation by introducing the flexibility...more

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