Business Organization Conflict of Laws Bankruptcy

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Third Circuit Court of Appeals Concludes that Section 303(i) Does Not Preempt State Law Claims of Non-Debtors Predicated on the...

In Rosenberg, et al. v. DVI Receivables XVII, LLC, 2016 WL 4501675, at *1 (3d Cir. Aug. 29, 2016), the Third Circuit Court of Appeals held that damages awarded pursuant to Section 303(i) of the Bankruptcy Code for an...more

Supreme Court Decides Commonwealth of Puerto Rico v. Franklin California Tax-Free Trust

On June 13, 2016, the Supreme Court of the United States decided Commonwealth of Puerto Rico v. Franklin California Tax-Free Trust, No. 15-233, holding that Chapter 9 of the federal bankruptcy code preempts Puerto Rico’s...more

Making the Safe Harbors Safe Again - United States Court of Appeals for the Second Circuit Holds That State Law Constructive...

The Bankruptcy Code contains “safe harbors” that, among other things, exempt transfers made in connection with certain financial contracts, including securities contracts, from avoidance by the bankruptcy trustee as...more

Second Circuit Limits Creditors’ Ability to Claw Back LBO Payments

A recent decision by the U.S. Court of Appeals for the Second Circuit, In re Tribune Company Fraudulent Conveyance Litigation,1 represents a significant victory for shareholders who may get cashed out in connection with a...more

Equityholder's Strategy for Shifting Tax Burdens to Creditors Upheld by Third Circuit

In re Majestic Star Casino, LLC, F.3d 736 (3rd Cir. 2013), the U.S. Court of Appeals for the Third Circuit broke from other courts by holding that S corporation status (or "qualified subchapter S subsidiary" or "QSub" status)...more

Second Circuit Determines the Relevant Date for Determining a Chapter 15 Debtor’s “COMI”

A. INTRODUCTION - Courts in the Southern District of New York and elsewhere have issued conflicting decisions regarding the appropriate time period to consider in determining a foreign debtor’s “center of its main...more

Supreme Court Holds California’s Survival Statute Inapplicable To Delaware Corporation

Section 278 of the Delaware General Corporation in effect limits suits against dissolved corporations to a period of three years from dissolution. In contrast, Section 2010 of the California Corporations Code sets no time...more

Asbestos Alert: Corporations Formed Other than in California Which Have Dissolved May Be Able to Win Summary Judgment in...

Robinson v. SSW, Inc. California Court of Appeal, First District (September 21, 2012) Douglas Robinson died from mesothelioma and his family filed a wrongful death action. SSW, Inc., a Nebraska corporation, sought...more

The effect of English schemes of arrangement in Germany

English law schemes of arrangement have become an increasingly debated topic in German law following some prominent cases in recent years. As far as Germany is concerned, the key question is whether schemes of arrangement...more

Seventh Circuit Disagrees with Third on Selling Collateral Without Credit Bidding in a Cramdown: Rule of Philly Papers Rejected

The Bankruptcy Code provides that a Chapter 11 plan of reorganization may be confirmed over the opposition of a class of secured creditors whose secured claims are not being paid in full only if it provides one of the...more

Chapter 15 Emerging Trends: Creditors' Rights, Multinational Groups

US Bankruptcy Code Chapter 15, which incorporates the United Nations Model Cross-Border Insolvency Law, became effective October 2005. Designed to assist non-US proceedings in need of enforcement within the United States,...more

Insolvenzrecht - Neues Gesetz bezüglich der Fortführung von Unternehmen in Zahlungsschwierigkeiten.pdf

Mit dem neuen Gesetz vom 31. Januar 2009 über die Kontinuität von Unternehmen soll Unternehmen, die sich in Zahlungsschwierigkeiten befinden, die Möglichkeit gegeben werden, ihre Zahlungsprobleme zu überwinden. Bisher...more

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