Bankruptcy Law | JD Supra Legal News, Updates, Analysis, & Information

SNP Boat Service S.A.: Clarifying the Limited Reach of a U.S. Bankruptcy Court in Chapter 15

by Cadwalader, Wickersham & Taft LLP on 5/11/2012

Addressing issues of comity in a chapter 15 bankruptcy proceeding, Judge K. Michael Moore of the United States District Court for the Southern District of Florida recently ruled that a U.S. court can only examine whether the...more

“Abandon hope all ye who enter here?” – First Practical Experiences with the New German Bond Restructuring Act

by K&L Gates LLP on 4/19/2012

In response to a need for a modern bond restructuring law permitting extensive financial restructurings outside formal insolvency law proceedings, the German legislator introduced a new German Bond Restructuring Act...more

Development of the Distressed Market Ahead

by Karanovic & Nikolic Law Office on 3/15/2012

During its last visit to Serbia, IMF delegation has stated in its aide-memoire from February this year that Serbia has one of the highest levels of non-performing loans (NPLs) in the regions which prevents the banks from...more

Dante’s Third Ring: Lehman Investors Bring Adversary Proceeding In SDNY Bankruptcy Court

by Cadwalader, Wickersham & Taft LLP on 3/15/2012

The battle over the enforceability of priority flip clauses in CDO indentures has entered a new phase. On February 8, 2012, a group of investors led by Belmont Park Investments Pty Ltd. filed an adversary proceeding against...more

MF Global: No Statutory Authority for Broker Customer Committee, Compensation from Estate, in SIPA Liquidation

by Cadwalader, Wickersham & Taft LLP on 3/15/2012

Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York recently denied a motion filed by commodity broker customers of MF Global Inc. seeking the appointment of an official committee of...more

Commercial Restructuring & Bankruptcy Alert - March 2012

by Reed Smith on 3/13/2012

In this issue: - Foreclosures in New Jersey - Substantive Rights' Not Assignable, Intercreditor Voting Rights Assignment Nullified - Offshore Bankruptcy-Remote Entity is Not Bankruptcy-Proof; Trust...more

Lehman client money judgment – impact on MF Global clients

by Reed Smith on 3/9/2012

On 29 February 2012 the Supreme Court of England and Wales dismissed the appeal by GLG Investments and ruled that clients whose money had not been properly ring-fenced when Lehman Brothers International (Europe) (“LBIE”) went...more

UK Supreme Court Lehman Client Money Decision

by Katten Muchin Rosenman LLP on 3/8/2012

On February 29, the UK Supreme Court handed down its decision upholding, in part unanimously and in part by a 3-2 majority, the Court of Appeal’s November 2010 decision in the LBIE client money case - Re Lehman Brothers...more

Lehman Bankruptcy - In re: Lehman Brothers Holdings, Inc., et al., No. 08-13555

by Patterson Belknap Webb & Tyler LLP on 3/7/2012

Lehman Plan Becomes Effective; Distributions to Begin April 17 On March 6, 2012, Lehman Brothers Holdings Inc. and its affiliated debtors announced that their Modified Third Amended Joint Chapter 11 Plan, which had been...more

Supreme Court gives protection to all UK client money

by Cadwalader, Wickersham & Taft LLP on 3/6/2012

On 29 February, the Supreme Court of the United Kingdom handed down its judgment on the treatment of client money that had not been segregated, or was improperly segregated, as at the date Lehman Brothers International...more

SDNY Bankruptcy Court Tackles Jurisdiction of Federal Maritime Commission

by Cadwalader, Wickersham & Taft LLP on 3/6/2012

On February 10, 2012, Judge Sean Lane of the United States Bankruptcy Court for the Southern District of New York denied the motion of 22 defendants in adversary proceedings filed by the Debtor, The Containership Company,...more

New York Bankruptcy Court Rejects Comity Based on Public Policy Exception to the Grant of Comity to Non-U.S. Orders

by Cadwalader, Wickersham & Taft LLP on 3/5/2012

In re Dr. Jurgen Toft, Case No. 11-1049 (ALG) (S.D.N.Y. Bank. Ct. 2011), a typically sound and erudite decision by the Bankruptcy Court in the Southern District of New York, is something of a close-to-must read for the...more

Inside M&A - January/February 2012

by McDermott Will & Emery on 3/5/2012

In This Issue: SEC Sues Private Company and its CEO for Fraud Related to Buyback Program Involving Employee Stock Bonus Plan The Fiducie in Restructuring and Acquisition Transactions in...more

Managing the various arrangements

by Harney Westwood & Riegels on 2/24/2012

British Virgin Islands (“BVI”) company law usually takes pride in simplifying itself to try and keep the jurisdiction as “user-friendly” as possible for the users of offshore companies. Although in...more

New German Insolvency Law Rules to Facilitate Restructurings, Debt-Equity Swaps and Debtor in Possession

by K&L Gates LLP on 2/23/2012

Introduction On 1 March 2012 new German insolvency law rules will come into effect which are intended to facilitate and promote debtor-in-possession proceedings and the use of restructuring plans and debt-equity...more

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Bankruptcy – May 23, 2012

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