News & Analysis as of

Board of Directors Reorganizations

Allen Matkins

When Non-Voting Shares Must Approve A Reorganization

Allen Matkins on

The California General Corporation Law permits a corporation to issue shares with no voting rights, provided that at the time one or more classes or series of outstanding shares or debt securities, singly or in the aggregate,...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law2018...more

Allen Matkins

When A Majority Vote May Not Suffice

Allen Matkins on

The California General Corporation Law imposes an intricate set of rules with respect to shareholder approval of reorganizations (defined in Section 181).  In general, the GCL requires that the principal terms of a...more

Allen Matkins

In California, Not Every Merger Is A "Reorganization"

Allen Matkins on

Yesterday's post discussed the relevance of the maturity date of a debt security to the definition of a "sale-of-assets" reorganization under California's General Corporation Law.   The CGCL recognizes two other types of...more

K&L Gates LLP

COVID-19: Delaware's 2020 Amendments to its General Corporation Law Respond to COVID-19 and More

K&L Gates LLP on

On 16 July 2020, the General Corporation Law of the State of Delaware (the DGCL) was amended (the 2020 Amendments) to assist Delaware corporations in responding to challenges arising from the novel coronavirus (COVID-19)...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law-2018...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings In Israel

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli parliament (Knesset) passed a new statute regarding insolvency law, which is named: The Insolvency and Rehabilitation...more

Allen Matkins

Leaving California By Short-Form Merger Without Shareholder Approval Fugetaboutit!

Allen Matkins on

California, like Delaware and other states, authorizes a short-form merger procedure. Essentially, this involves a merger of a subsidiary into its parent or vice versa. Under California's statute, the parent corporation must...more

King & Spalding

Nine Things to Watch For in the PG&E Bankruptcy

King & Spalding on

On January 29th, PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electricity Company (collectively, “PG&E”), commenced bankruptcy cases in the Bankruptcy Court for the Northern District of California....more

McCarter & English, LLP

New Pennsylvania Law to Simplify Entity Transactions

Pennsylvania’s new Entity Transactions Law is expected to streamline the process of effecting certain fundamental changes or change of control transactions. Effective July 1, 2015, companies doing, or wishing to conduct,...more

Smith Anderson

Significant Legislation Affecting Business Passed by General Assembly

Smith Anderson on

At the end of last week, the North Carolina General Assembly passed significant legislation affecting the State’s business legal climate. With large bipartisan majorities, the Legislature adopted Senate Bill 853 (SB 853),...more

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