Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:
License to travel: how regulation is benefiting business abroad
Common Employment Law Mistakes for Small, Start-Up and Growing Companies
Ted Hester on Congressional Investigations
Deloitte: Turnarounds and Democracy Don't Mix
Make Money Turning Home Brew into a Business
Zimmermann: Up to 20% of AmLaw 200 "Badly Weakened"
Survey: Law Firms Must Change, But Don't Know How
Sullivan & Cromwell's M&A Hotline is Ringing
Andrea Weckerle on CiviliNation
Going on the Offense: Proactive Strategies to Reduce Uncertainty
Eliot Frick on Smart Social Media Strategy
Safeguards against Data Security Breaches (Part One)
Safeguards against Data Security Breaches (Part Two)
Suzanne Folsom on Corporate Compliance Issues -
Suzanne Rich Folsom and Bart M. Schwartz on Corporate Compliance in 2011
Suzanne Folsom on Corporate Compliance Issues
Suzanne Folsom and Ted Wright of ACADEMI
ACADEMI's Suzanne Rich Folsom and PwC's Glenn Ware on Moral Hazard
Suzanne Folsom & Christopher Burnham on Private Sector Lessons
Joseph Levitt on the Food Safety Modernization Act
A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more
In Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, 2012 WL 5197117 (D. Mass. Oct. 18, 2012), a federal district court in Massachusetts concluded that a private equity fund was not a...more
In AMR Corporation, et al., Debtors, Case No. 12-3967, 2013 WL 1339123 (S.D.N.Y. April 3, 2013), the United States District Court for the Southern District of New York acknowledged that to be granted relief from the automatic...more
Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more
In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir. April 16, 2013), the United States Court of Appeals for the Second Circuit (the "Second Circuit") held that...more
April 26 (Bloomberg Law) -- William Snyder, co-head of the corporate restructuring group at Deloitte, talks with Bloomberg Law's Lee Pacchia about a new survey his group conducted on executive management during corporate...more
Law360, New York (December 03, 2012, 7:05 PM ET) -- An American Bankruptcy Institute commission designed to take stock of the state of Chapter 11 anticipates that any changes to the Bankruptcy Code would likely focus on the...more
As the American economy continues to slog through the ongoing Great Recession, even financially sound companies face challenges due to the continued economic malaise. In particular, a company that works with suppliers,...more
As the economic recovery continues to wind along through the up and down financial cycles that have been the hallmark of the last four years, there can be little doubt that some individuals historically on the higher end of...more
Although business bankruptcy filings have trended down in recent months, the lingering legacy of litigation prompted by the surge in filings at the outset of the U.S. financial crisis remains with us and continues to strike...more
In a recent decision by the Bankruptcy Court for the District of Delaware, the court adopted a flexible approach to consensual third party releases in a plan of reorganization. In In re Indianapolis Downs, LLC, 2013 Bankr....more
In a recent Fifth Circuit decision, Western Real Estate Equities, LLC v. Village at Camp Bowie I, L.P., No. 12-10271 (5th Cir. 2013), the court held that the acceptance vote from a minimally and “artificially impaired” class...more
Introduction - The Court of Appeal of the Eastern Caribbean Supreme Court on Monday, 11 March handed down an important ruling on the question of where investors stand in the “waterfall” of distributions in the...more
Shortly after the U.S. Court of Appeals for the Fifth Circuit refused to enforce Vitro SAB’s Mexican plan of reorganization in the United States (covered here), Judge Harlin D. Hale of the U.S. Bankruptcy Court for the...more
Can an equity investor who directs an insider to contribute "new value" to a debtor under a plan of reorganization, so as to retain his interest in the company, avoid an express market test for that new equity? The answer to...more
Under the absolute-priority rule, unpaid creditors normally receive the equity in a reorganized business. If a plan of reorganization proposes a “new value” investment in exchange for equity, however, the rule does not...more
In a decision issued yesterday, the 7th Circuit Court of Appeals held that insiders can't be given a special opportunity to invest in a bankrupt debtor under the guise of contributing "new value" unless the debtor makes the...more
Jersey LLPs: a new dawn as investment and property holding vehicles A recent amendment to the Limited Liability Partnership (Jersey) Law 1997 (the "Law") could see Jersey Limited Liability Partnerships (Jersey LLPs) gain...more
On February 1, 2013, the Supreme Court of Canada released its much anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, a case which pitted the claims of pensioners against those of secured creditors in...more
This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more
Overview - On February 1, 2013, the Supreme Court of Canada (the “SCC”) affirmed the priority granted to Debtor-In-Possession (“DIP”) lenders who provide capital to debtor companies undergoing the restructuring process...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
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
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
The global reach of capital markets, financial difficulties in the eurozone and the multinational nature of many businesses and financial institutions have increased the importance of understanding legal, business and other...more
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