General Business Conflict of Laws Bankruptcy

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Summary Of Puerto Rico Public Corporation Debt Enforcement & Recovery Act

On June 28, 2014, the Commonwealth of Puerto Rico adopted the Puerto Rico Corporations Debt Enforcement & Recovery Act, Act 71-2014 (the “Debt Enforcement Act”), enabling certain Commonwealth public corporations in financial...more

Bankruptcy Court defines limits of shareholder safe harbor in failed leveraged buyouts

An opinion issued in connection with the bankruptcy cases of Lyondell Chemical Company and its affiliates may have significant implications for shareholders who receive payments in connection with a leveraged buyout when the...more

Infobytes Special Alert: CFPB Issues Mortgage Servicing Rule Amendments And Guidance Addressing Conflicts With Bankruptcy And Debt...

On October 15, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued an interim final rule amending certain provisions of its mortgage servicing rules and making technical changes to other January 2013 mortgage rules...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

Rogers Towers: Caveat Creditor: Courts Split Regarding Abrogation of Absolute Priority Rule for Individual Chapter 11 Debtors

Although the 2005 BAPCPA amendments appeared to be a boon for creditors, at least with respect to Chapter 7 claims, individual Chapter 11 debtors immediately seized upon a perceived ambiguity in Congress’ language with...more

Ninth Circuit Holds That Debt Can Be Recharacterized as Equity

The US Court of Appeals for the Ninth Circuit recently resolved a split within the circuit when it held that a bankruptcy court has the power to recharacterize debt as equity. In In re Fitness Holdings International, Inc.,...more

An Identifiable Risk to Collateral Property That Is Used In The Marijuana Business

The legalization under state law of the marijuana business in Colorado through Amendment 20 (medical marijuana) and Amendment 64 (recreational marijuana) (Amendment 20 and Amendment 64 shall be referred to collectively as the...more

Ninth Circuit Widens Circuit Split Over Application of State or Federal Bankruptcy Law To Determine Whether Claims of...

In an important decision for private equity sponsors and other insiders who advance loans to their businesses, on April 30, 2013, the Ninth Circuit Court of Appeals in In re Fitness Holdings International confirmed that...more

Eighth Circuit Rules That a “Perpetual” Trademark Licensing Agreement Is an “Executory” Contract Subject to Rejection Under...

The United States Court of Appeals for the Eighth Circuit recently ruled that a perpetual, royalty-free, and exclusive trademark licensing agreement qualified as an executory contract subject to assumption or rejection under...more

Enforcement of Foreign Judgments - The Usual Rules Apply (no exception for insolvency)

This an important case from the English Supreme Court relating to the enforcement of foreign judgments in England. In the judgment, Lord Collins posed the following question, “Should there be a more liberal rule for...more

Twenty-Six Years Later, a Lubrizol Split by the Seventh Circuit

Chief Judge Frank Easterbrook of the Seventh Circuit recently created a split of authority regarding the rejection intellectual property licenses in bankruptcy by upholding a decision protecting a trademark licensee’s ability...more

"Rejection of Perpetual, Royalty-Free, Exclusive Trademark License Permitted by Eighth Circuit Ruling: Lewis Brothers Bakeries...

The U.S. Bankruptcy Code generally limits a Chapter 11 debtor-licensor’s ability to reject intellectual property licenses, but trademark licenses are not subject to such limitations. Trademark license agreements that are...more

"Fifth Circuit Holds That Electricity Agreements Are Shielded From Avoidance Powers Under Bankruptcy Safe Harbor"

In its recent decision in Lightfoot v. MXEnergy Electric, Inc. (In re MBS Mgmt. Serv., Inc.), No. 11-30553, 2012 U.S. App. LEXIS 15995 (5th Cir. Aug. 2, 2012), the United States Court of Appeals for the Fifth Circuit ruled...more

Federal-Mogul Court Confirms That Bankruptcy Law Trumps Anti-Assignment Provisions in Insurance Policies

On May 1, 2012, the United States Court of Appeals for the Third Circuit in In re Federal–Mogul Global, Inc. confirmed that anti-assignment provisions in a debtor’s insurance liability policies are preempted by the Bankruptcy...more

Seventh Circuit Allows Trademark Licensees to Continue Using License After Rejection of Licensing Agreement

The Court of Appeals for the Seventh Circuit, in Sunbeam Products, Inc. v. Chicago American Manufacturing, LLC, recently issued a decision that holds contrary to the only other court of appeals that has addressed the issue —...more

Insolvenzrecht - Konkursanfechtungsrecht - Belgisches Konkursrecht

Das Konkursrecht vom 18. April 1851, das im dritten Buch des Handelsgesetzbuches zu finden ist, wurde durch das Konkursgesetz („Loi sur les faillites“/“Faillissementswet“) vom 08. August 1997, das am 01. Januar 1998 in Kraft...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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