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General Business Bankruptcy Finance & Banking

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Trump Prevents FSOC Designations and Bank Liquidations

In a Presidential Memorandum, President Trump directed the Secretary of the Treasury, as a member of the Financial Stability Oversight Council, not to cast a nonemergency vote to subject nonbank financial companies to...more

Not Chapter 11 but Chapter 11-ish

by Morrison & Foerster LLP on

Parents, headmasters, hoteliers, restauranteurs, insurers and countries love them or hate them, depending on how their school or restaurant, company or nation is ranked. I’m referring to the World Bank’s annual Doing...more

Commercial Restructuring & Bankruptcy Alert - April 2017, Issue 1

by Reed Smith on

Welcome to the April 2017 issue of the CR&B Alert, the newsletter produced by Reed Smith's Commercial Restructuring & Bankruptcy Group. Excerpt from Newsletter: SUPREME COURT WILL DECIDE STANDARD OF REVIEW ON...more

11th Circuit Clarifies FDCPA/FCCPA Issues Re Periodic Mortgage Statements After Bankruptcy

by Burr & Forman on

In Helman v. Bank of America, 15-13672, 2017 WL 1350728 (11th Cir. April 12, 2017) the Eleventh Circuit Court of Appeal clarified important issues regarding the use of periodic mortgage statements after a bankruptcy...more

Top Four Trends From INSOL Sydney 2017

by Kobre & Kim on

On the heels of the recent INSOL Quadrennial Congress, which took place in Sydney, Australia, Kobre & Kim’s global bankruptcy and debtor-creditor disputes team joined colleagues from around the world to discuss developing...more

Chancery Rules that Claims against General Partner are Direct, Allows Action to Proceed Despite Partnership’s Bankruptcy

by Fox Rothschild LLP on

Whether a claim against company management is direct or derivative is not infrequently disputed in litigation before the Delaware Court of Chancery. This determination becomes important in many contexts, including whether it...more

New Bankruptcy Case Limits Assertion of Post-Bankruptcy Construction Liens

by Saul Ewing LLP on

On March 30, 2017, the United States Court of Appeals for the Third Circuit issued a decision that curtails the rights of suppliers to lien non-debtor third-party property following the bankruptcy filing of a construction...more

Global Private Equity Newsletter - Spring 2017 Edition: Recent Developments in Acquisition Finance

by Dechert LLP on

When a portfolio company underperforms, an equity sponsor will want to assess the degree of negotiating leverage the company’s lenders have against the company under the circumstances, which can play a significant role in...more

Delaware District Court finds that Bankruptcy Court Cannot Enter a Final Order Releasing Third-party Claims Without...

by Cole Schotz on

In this post-Stern opinion (the “Opinion”), the United States District Court for the District of Delaware (the “Court”) addresses two main issues with respect to the approval of nonconsensual third-party releases provided for...more

Supreme Court Absolutely Affirms the Absolute Priority Rule

by Ward and Smith, P.A. on

The United States Supreme Court recently decided a case that impacts lenders and other creditors in Chapter 11 bankruptcy proceedings. The Supreme Court held that a bankruptcy court may not approve a “structured dismissal” of...more

Anticipating and Managing Bankruptcy Risk

by Blank Rome LLP on

Blank Rome Partner Ira Herman authored “Anticipating and Managing Bankruptcy Risk,” a series of articles prepared for the Financial Restructuring & Bankruptcy module of Lexis Practice Advisor, a comprehensive practical...more

Supreme Court Limits Use of Structured Dismissals of Chapter 11 Cases

by Holland & Knight LLP on

In a 6-2 decision on March 22, 2017, the U.S. Supreme Court determined that bankruptcy courts may not approve a structured dismissal of a Chapter 11 case that provided for distributions of estate funds that do not follow...more

Singapore Enacts New Corporate Bankruptcy Law to Promote International Debt Restructuring

by Jones Day on

On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 ("Act") to enhance the country's corporate debt restructuring framework. The Act was assented to by President Tony Tan Keng Yam on March...more

Banking & Financial Services E-Note - March 2017

by Burr & Forman on

In an article published in the April 2017 issue of The Journal of Bankruptcy Law, Jonathan Sykes and Correy Karbiener provide insight on whether § 546(e) of the Bankruptcy Code protects transfers made to repay commercial...more

Singapore: Debt Restructuring Hub Ready For Business

by White & Case LLP on

After months of public consultations and revision, the Singapore parliament passed the Companies (Amendment) Bill (the "Bill") on 10 March 2017 amending the Singapore Companies Act (the "Companies Act"). The Bill contains,...more

Yes, Virginia, there is a Code Priority Scheme: Supreme Court Strikes Down Structured Dismissals in Jevic

by Foley & Lardner LLP on

A potential threat to the Code’s priority scheme is the allowance of “structured dismissals,” which include a settlement as part of the dismissal of the chapter 11 case that would distribute estate assets in a manner that...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Greenlight Capital’s David Einhorn is pushing GM to split its common stock into two classes—one for dividends and the other for all additional earnings—in an effort to boost the carmaker’s market cap. GM’s not on board....more

EuroResource—Deals & Debt - March 2017

by Jones Day on

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments...more

Disclaimers: Paper Shield or Your Best Protection?

by Reed Smith on

The UK Court of Appeal recently considered the liability of issuers to secondary market investors under the Misrepresentation Act 1967 (the “1967 Act”) in the case of Taberna Europe CDO II Plc v Selskabet (formerly Roskilde...more

U.S. Supreme Court Invalidates Non-Consensual Structured Dismissal Deviating from Bankruptcy Priority Scheme

by Jones Day on

The U.S. Supreme Court ruled on March 22, 2017, in Czyzewski v. Jevic Holding Corp., that without the consent of affected creditors, bankruptcy courts may not approve "structured dismissals" providing for distributions that...more

Absolute Priority Remains Absolute – US Supreme Court Holds Structured Dismissals Cannot Violate Priority Rules

by Dechert LLP on

In a highly anticipated bankruptcy opinion, the United States Supreme Court, in Czyzewski v. Jevic Holding Corp., held that courts may not approve structured dismissals providing for distributions that deviate from the...more

Supreme Court Completely Endorses Critical Vendor Theory! Well, Not Completely. But Almost!

by Bryan Cave on

We at the Bankruptcy Cave are not very surprised by the ruling yesterday in Czyzewski v. Jevic Holding Corp. The Supreme Court in Jevic reviewed a Bankruptcy Court’s decision to approve a settlement (with a distribution of...more

Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings

by Holland & Knight LLP on

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware (Court) issued a decision on Feb. 28, 2017, that has important – and positive – significance for Native American tribal governments, their...more

A Hypothetical Question Deserves a Hypothetical Answer: The Ninth Circuit’s Approach to Preference Transfers in In re Tenderloin...

As a creditor, the news of a debtor who owes you a substantial sum of money filing bankruptcy is often the most alarming news you can learn—that is, until you seek advice of counsel and learn that payments the debtor made to...more

Delaware Bankruptcy Court Issues Important Guidelines Concerning Payment of Indenture Trustee's Professional Fees

In Nortel Networks, Inc., Case No. 09-0138(KG), Doc. No. 18001 (March 8, 2017), the Delaware Bankruptcy Court ruled on the objections of two noteholders who asked the Court to disallow more than $4.4 million of the $8.1...more

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