Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
A Conversation with John Houghton on Asia Restructurings
Bennett Jones Spring 2014 Economic Outlook
Select Bankruptcy Issues for General Counsel – Part One
Not Dead Yet? How BigLaw's Best Firms Are Finding Growth
Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Polsinelli Podcast - Claims Trading: Opportunity or Hazard?
If I wasn't happy with my lawyer, can I appeal and show evidence I wanted to present?
Zimmermann: Dewey Charges Send 'Warning' To Struggling Law Firms
What do creditors need to know about litigation in state court and bankruptcy court?
Can I collect my judgment if the other side is appealing?
Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Detroit Falls Short on Good-Faith Test
What is an appeal and how do I know if I should appeal?
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Madoff Victims Rooting for Stanford Victory
Bill on Bankruptcy: Listening in the Dark at the NCBJ
Bill on Bankruptcy: Detroit Shows Need for Amending Bankruptcy Law
Dean: Law Schools Use Merit Scholarships To Boost Rankings
Opportunity Arises Out of Adversity -
The recent global financial crisis has seen consumers tighten their belts and the retail industry as a whole has faced increasing pressure. Profits warnings have peppered the...more
In Quadrant Structured Products Co. v. Vertin, C.A. No. 6990-VCL, 2014 Del. Ch. LEXIS 193 (Del. Ch. Oct. 1, 2014), the Delaware Court of Chancery held that when creditors of insolvent firms assert derivative claims, they need...more
Editor’s Note -
Looking Ahead: December 1 Effective Date for FINRA Consolidated Supervision Rules. The new FINRA Supervision rules, approved by the SEC in December 2013, become effective on December 1, 2014. The new...more
Several recent legal and regulatory developments in the U.S. will likely alter the makeup of the group of arrangers and financiers willing to arrange and provide financing for certain highly leveraged transactions, and also...more
The North Carolina General Assembly is working on significant legislation affecting the state’s business legal climate. The Legislature is one vote away from adopting Senate Bill 853 (SB 853), which is intended to improve...more
Differing viewpoints have recently arisen in the Ontario Superior Court of Justice (Commercial List) as to whether fairness opinions are admissible during court approval of plans of arrangement. In Champion Iron Mines Limited...more
Although Warranty Insurance in M&A transactions was a novelty product five to ten years ago, Warranty Insurance has now become an industry standard in Europe, largely thanks to its wide use by private equity firms who have...more
Successor liability is often a concern for the acquirer when purchasing substantially all of a seller’s assets. While this risk is well known, the circumstances under which an acquirer will be found liable under the theory...more
As is well known, the right to credit bid is the entitlement of a secured lender to bid the amount of its outstanding claims at the sale of its collateral. If the secured lender places the winning bid, no money is exchanged...more
The Financial Crisis, a difficult market situation and a tense liquidity status have led to remarkable difficulties for mid-sized businesses within the past years. Strategic and financial investors have and continue to...more
Former Bank of America CEO Kenneth Lewis agreed to pay $10 million and to be barred from serving as an officer or director of a public company for three years to settle fraud charges brought by the New York Attorney General...more
Several recent legal developments will likely impact acquisition finance.
A recent decision of the U.S. Bankruptcy Court for the Southern District of New York examines who is an “Eligible Assignee” entitled to acquire...more
The United States Bankruptcy Court for the Southern District of New York (the “Court”) in Weisfelner v. Fund 1 (In Re Lyondell Chemical Co.), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) recently held that the safe harbor...more
A scheme of arrangement is a tool of English corporate law that has been used in M&A and restructurings for decades. A company implementing a scheme has complete freedom to choose with which groups of shareholders and...more
In a recent decision by the influential Third Circuit Court of Appeals, In re KB Toys Inc., 2013 U.S. App. LEXIS 23083 at *17 (3d Cir. Nov. 15, 2013), the Court decided that “the cloud on the claim” stemming from a...more
Chapter 11 is known as a forum for reorganizing or selling a financially distressed business. Chapter 11 allows companies to reject burdensome contractual obligations, shed non-core assets and “clean up” the balance sheet by...more
In previous posts, we introduced the protections afforded the FDIC by the D’Oench Doctrine and 12 U.S.C. § 1823(e), which bar claims and defenses against the FDIC and its assignees by private parties based on improperly...more
Certain recent legal developments will likely impact acquisition finance. This article will survey some of the more notable ones.
We discussed in the last newsletter the Eleventh Circuit Court of Appeals’ decision in...more
This article briefly discusses the prohibition of indebtedness of shareholders, partners, Board Members, Managers and their relatives in Joint Stock Companies and Limited Liability Partnerships, under the Turkish Commercial...more
In an eloquent account of consensual merger negotiations between Martin Marietta and Vulcan Materials, the two largest players in the domestic aggregates business, Chancellor Leo Strine of the Court of Chancery of Delaware...more
In a recent decision in the VeraSun bankruptcy cases, the U.S. Bankruptcy Court for the District of Delaware held that “change in control” agreements between former executives and the debtors are “employment contracts” under...more
In This Issue:
The Top 5 Traps in Energy M&A Transactions
The Top 5 Traps in Distressed M&A Transactions
The Top 5 Traps in Energy M&A Transactions
by Blake H. Winburne and Matthew R. Archer
Years ago, second lien lenders adhered to the truism about children – they were seen but not heard. As our children have grown more vocal in recent years, so too have second lien lenders. A spate of recent bankruptcy cases...more
Does a secured creditor have an absolute right to acquire its collateral, which is sold pursuant to a plan of reorganization, by credit bidding its debt? The Third Circuit Court of Appeals, in a strict constructionist...more
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