Business Organization Bankruptcy Securities

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

The ABI Commission on Business Bankruptcy Reform: Director and Officer Fiduciary Duties and Lender Liability

Will Congress Finally Act? This is the third in a series of Alerts regarding the proposals made by the American Bankruptcy Institute’s Commission to Reform Chapter 11 Business Bankruptcies. It covers the Commission’s...more

Amendments to Cypriot Companies Legislation Introduce Examinership

The near collapse of the Cypriot economy has brought about a new generation of legislation which has inter-alia introduced amendments (the Amendments) into Cypriot companies legislation (Cap 113). The Amendments...more

Delaware Chancery Court Holds that Creditor Plaintiffs in Derivative Suits May Satisfy Standing Requirement by Showing...

In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch. May 4, 2015), the Delaware Court of Chancery held that a creditor plaintiff needs only establish that a corporation was...more

Delaware court of chancery issues significant ruling on the ability of creditors to assert fiduciary duty claims against...

In Quadrant Structured Products Co. v. Vertin, 2015 WL 2062115 (Del. Ch. May 4, 2015), the Delaware Court of Chancery (Vice Chancellor J. Travis Laster) announced a bright-line standard governing the threshold inquiry of when...more

Facing An Involuntary Chapter 7 Case In Colorado, Airborne Media Group, Inc. Files a Voluntary 11 In Delaware

On May 8, 2015, Airborne Media Group, Inc. filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the District of Delaware. The voluntary petition was filed after several creditors commenced an...more

Fleshing Out Creditor Derivative Standing in Delaware

The Court of Chancery issues a liberal ruling on creditor derivative standing and more obsequies for the “zone of insolvency.” ...more

Restricting Share Capital Reductions in Takeovers

The Companies Act 2006 (Amendment of Part 17) Regulations 2015 (the “Regulations”) came into force on 4 March 2015. The Regulations amend section 641 of the Companies Act 2006 to prevent a company from reducing its share...more

Blog: Shareholder Proposal Regarding Audit Committee Composition

As noted in this article from Compliance Week, the Corp Fin staff have refused to issue no-action relief to Citigroup agreeing that it could exclude from its proxy statement a proposal from the prolific John Chevedden...more

Potential Shareholder Liability Arising From Subsidiary WARN Act Violations

When a company begins experiencing financial difficulty, shareholders often ask whether they may be liable under the Federal Worker Adjustment and Retraining Notification (“WARN”) Act for violations by the company. When the...more

Statutory Exemption from U.S. Withholding Tax on Dividends Remains

Generally, a non-U.S. taxpayer that is not engaged in a U.S. trade or business is taxable in the United States only on U.S.-source “fixed determinable, annual or periodical” income (FDAP)....more

Does the Business Judgment Rule Protect Bank Officers and Directors?

When a corporation suffers significant losses, or ultimately fails, frustrated shareholders, creditors, or others often try to sue the corporation and/or its officers and directors for losses caused by mismanagement of the...more

IRS Scores $13 Million Victory Against BMC Software

IRS Scores $13 Million Victory Against BMC Software by Frank L. Brunetti on October 2, 2013 The Internal Revenue Service landed a huge victory in U.S. Tax Court recently, and the ruling may have significant implications...more

Strategic Vision for Emerging Companies – Interview with Marty Lorenzo, Member, Mintz Levin [Video]

Attorney Marty Lorenzo, Member of Mintz Levin's Corporate & Securities Practice, discusses the steps newly formed companies need to take to ensure they are prepared to execute their exit strategy. ...more

Private Equity Funds May Be on the Hook for the Pension Liabilities of Portfolio Companies

A recent decision of the Court of Appeals for the First Circuit makes it more likely that private equity funds could be liable for the pension obligations of the portfolio companies in which they invest. Key to the decision...more

PE Funds May Be Liable For Portfolio Company Pension Liabilities

Introduction - A recent decision by the U.S. Court of Appeals for the First Circuit increases the risk that a private equity fund could be liable for its portfolio company’s unfunded pension liabilities. Additionally,...more

"First Circuit Holds That a Private Equity Fund May be Liable for Portfolio Company Pension Obligations"

On July 24, 2013, the U.S. Court of Appeals for the First Circuit held that a private equity fund sponsored by Sun Capital Advisors constituted a “trade or business” for purposes of ERISA multiemployer pension withdrawal...more

Two Recent Circuit Court Decisions on Cram Down

Two recent decisions by United States Circuit Courts of Appeal separately address the rights of secured creditors, unsecured creditors and equity holders under cram down plans of reorganization. In Wells Fargo Bank National...more

Claims Under Repurchase Transactions Do Not Qualify As Customers’ Claims in Broker-Dealers’ Liquidation

Judge James M. Peck of the Bankruptcy Court for the Southern District of New York held, on June 25, 2013 (the “Lehman Op.”), that claims under repurchase transactions (“Repos”) do not qualify as customer claims and therefore...more

Shedding Light on a Bankruptcy Safe Harbor: Defining the Reach of Section 546(e)

Bankruptcy trustees and debtors routinely attempt to increase the amount of money available to creditors in a bankruptcy case by “clawing back” funds transferred by the debtor to another party. Several sections of the...more

Commentary: Five Lessons from the Municipal Derivatives Litigation Front

Pre-financial crisis, interest rate derivatives were widely recognized as a valuable part of the municipal issuer’s financial toolkit. Post-crisis, they have been a thorn in the side of many issuers, resulting in expensive...more

Indemnification Claims Under the CCAA A - Caution for Underwriters, Auditors, Directors and Others

Indemnification clauses are often considered a critical component of risk mitigation strategies in legal relationships. However, as is well understood, the value of an indemnification clause, in the event it becomes...more

MMF Independent Trustees in Crisis: MMF Executives Sue Independent Trustees for Fraud and Waste of Corporate Assets

In a bizarre twist to the case of the money market fund that broke the buck, the investment adviser to the Reserve Primary Fund (Reserve Fund) and its principals sued the fund’s independent trustees, laying the blame for the...more

"Thinking Outside the Box - Using the Companies’ Creditors Arrangement Act to Resolve a Prospective Class Action"

Originally published in the Ontario Bar Association's Class Action Law Section, Volume 3, No. 1 – December 2012. The Companies' Creditors Arrangement Act ("CCAA") has long been lauded as a flexible tool that lends...more

House Financial Services Committee Releases Staff Report on MF Global

The US House of Representatives Financial Services Subcommittee on Oversight and Investigations (Committee) has released a report on the collapse of MF Global (Report). The Report finds that Jon Corzine, MF Global’s Chairman...more

Reformers Eye Distressed-Debt Investors: Do hedge funds and other buyers of the securities of failed companies adversely affect...

The American Bankruptcy Institute’s commission studying reforms of the U.S. bankruptcy code has distressed-debt investors near the top of its agenda. But so far the institute's not getting much backing from the bankruptcy...more

52 Results
|
View per page
Page: of 3

Follow Business Organization Updates on:

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×