News & Analysis as of

Corporate Restructuring

Seward & Kissel LLP

Solar Flare, Security Breach, and Therapeutic Treatment

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Residential Solar Firm Lumio Files Bankruptcy, Plans to Sell | Bloomberg - Privately owned provider of residential solar panels Lumio filed for Chapter 11 bankruptcy on Tuesday in Delaware with plans to sell its company to...more

Seward & Kissel LLP

Lots of Questions, Highly Effective, and Judicial Scrutiny

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Big Lots bankruptcy reports send shares tumbling to record lows for Columbus retailer | The Columbus Dispatch - Home goods retail chain Big Lots Inc. is considering filing for bankruptcy after years of decreased sales. The...more

Conyers

Conyers Coverage Issue 11 – Summer 2024

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A warm welcome to the Summer edition of Conyers Coverage. The whirlwind that is the Cayman Islands (re)insurance industry continues to blow with gusto! To keep you updated on recent developments, we include various items from...more

Holland & Knight LLP

El regreso de los mecanismos de emergencia para empresas en insolvencia

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In this episode of "A Lo Legal En Par Minutos," Partner Edwin Cortés talks with bankruptcy attorney Natalia Cuberos about the latest insolvency regulation in Colombia. The country's Congress passed a law making permanent...more

Conyers

Restructuring in the Cayman Islands: The New Regime

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On August 31, 2022, significant amendments to Part V of the Cayman Islands Companies Act (“Act”) took effect to revamp the Cayman Islands restructuring regime. These amendments introduced the new role of a court-appointed...more

Allen Matkins

What About Calexit?

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My last several posts have discussed the current debate on the phenomenon referred to as "DExit", which refers to Delaware corporations that choose to reincorporate in other states.  In a recent article, Professor Bainbridge...more

Jones Day

Third Circuit: Unsecured Claim for Royalties from Intellectual Property Purchased by Debtor Discharged Under Chapter 11 Plan

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Mitigating risk of loss associated with a bankruptcy filing should be an element of any commercial transaction, especially if it involves a sale or license of intellectual property rights. A ruling recently handed down by the...more

Fenwick & West LLP

Domestication with a Twist: A Tax Case Study

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The Internal Revenue Service’s new private letter ruling (PLR) concerned a domestication of a Foreign Parent corporation under U.S. ownership—with a few notable twists. First, the PLR applied a substance-over-form analysis to...more

Hahn Loeser & Parks LLP

Ohio: An Introduction to Bankruptcy/Restructuring (Chambers)

In 2023, despite aggressive predictions of a near-term recession, the economy remained relatively steady. This resulted in an uneven year for restructuring. Substantial money has been raised in the private credit markets and...more

IR Global

Coan vs Killilea, the Dunne Cross-Border Insolvency Case Explained

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Jennifer Riggins, host of the IR Global: Expertise Unlocked was joined by Thomas H. Curran, Managing Partner of Thomas H. Curran Associates, LLC. Thomas Curran goes into detail about his business law firm that specialise in...more

Conyers

Cayman Islands Non-Petition Clauses: Precision Is Paramount

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In a very recent judgment in the wake of the Abraaj Group fallout, the Grand Court of the Cayman Islands refused to strike out a just and equitable winding up petition and, in the process, analysed the effect of a purported...more

Conyers

Cayman Islands M&A: on the rise

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Many acquisitions, especially privatisations, are structured as a statutory merger, and in this article, we provide a brief overview of Cayman Islands (“Cayman”) mergers and consolidations and the general requirements for...more

McDermott Will & Emery

Das StaRUG und dessen Bedeutung für die Restrukturierung von Immobiliengesellschaften – Die wichtigsten Fragen und Antworten

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Insolvenzanträge von namhaften Projektentwicklern und Immobiliengesellschaften stellen die betroffenen Unternehmen und ihre Gläubiger vor große Herausforderungen und setzen die gesamte Immobilienbranche unter Druck....more

Skadden, Arps, Slate, Meagher & Flom LLP

Beyond Traditional Financing: Exploring Equity-Linked DIP Strategies in WeWork and Enviva

Building on emerging trends, 2024 has seen a continued rise in the use of equity-linked debtor-in-possession (DIP) financing in Chapter 11 cases. Recent examples from WeWork and Enviva illustrate how stakeholders are...more

Rivkin Radler LLP

Trust Beneficiary Engages In Like Kind Exchange Using Trust Property

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It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs materially in kind from the...more

Skadden, Arps, Slate, Meagher & Flom LLP

SDNY Adopts Guidelines for Combined Hearing on Disclosure Statement Approval and Chapter 11 Plan Confirmation

On May 31, 2024, the chief judge of the U.S. Bankruptcy Court for the Southern District of New York (SDNY) entered General Order M-634, adopting guidelines for combining the processes for Chapter 11 plan confirmation under...more

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

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In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more

Conyers

Cayman Islands Restructuring: Obtaining Consent in a Crisis

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Although there are occasions when formal insolvency proceedings are unavoidable, there are many cases where a consensual, out-of-court approach is more appropriate and desirable. We are often engaged to assist creditors,...more

Kramer Levin Naftalis & Frankel LLP

NAIC Group Issues Guidance on Corporate Restructurings

Insurers with unwanted runoff blocks of business should consider the latest guidance from insurance regulators on potential transactional structures that could mitigate this issue. On May 13, the Restructuring Mechanisms (E)...more

White & Case LLP

Credit Bids on the rise in Australia

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Investors in the Australian market are more sophisticated than ever and – unsurprisingly – so too are the restructuring transactions being promoted by these investors. One such transaction is the credit bid. While not a...more

White & Case LLP

Statutory Powers of Sale

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In 2023, we saw an increase in both voluntary administration and receivership appointments in Australia. In the context of Australia's economic climate this was unsurprising — debtor companies were grappling with volatile...more

White & Case LLP

Schemes of Arrangement in Australia

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A creditors' scheme of arrangement ("Scheme") can be a powerful restructuring tool implemented to achieve a variety of outcomes for a business, ranging from deleveraging or a debt-to-equity conversion to a merger and/or issue...more

Dunlap Bennett & Ludwig PLLC

A Brief Guide To Corporate Restructuring Practices

Change is an inevitable part of the corporate lifecycle. Corporations often find themselves at a crossroads where adapting to new market conditions, enhancing efficiency, or pursuing strategic growth becomes imperative....more

Conyers

Successful Defense of Contentious Special General Meeting Dispute: the Nan Hai Judgment

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In Ho Kwok Leung Glen, Hau Kai Ling and Ge Jun v Nan Hai Corporation Limited [2024] SC (Bda) 2 Civ, 31 January 2024, the Supreme Court of Bermuda (the “Court”) rejected the Plaintiffs’ application for a declaration that seven...more

Seward & Kissel LLP

Run-On Sentence, Searching for a Curo, For Pete’s Sake, and The Rite Stuff

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Sam Bankman-Fried Sentenced to 25 Years in Prison | CoinDesk - FTX founder and former CEO Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted on seven fraud and conspiracy charges. According to...more

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