News & Analysis as of

Creditors Corporate Counsel

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Mintz - Bankruptcy & Restructuring Viewpoints

Delaware Bankruptcy Court Grants Derivative Standing to Creditors’ Committee to Sue Members and Officers of Delaware LLC

In early February, a Delaware bankruptcy judge set new precedent by granting a creditors’ committee derivative standing to pursue breach of fiduciary duty claims against a Delaware LLC’s members and officers. At least three...more

Harris Beach PLLC

California Court Ruling Could Potentially Open Up a Pathway to Bankruptcy for Cannabis-Related Businesses

Harris Beach PLLC on

A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more

Dechert LLP

EU General Court examines data anonymisation and pseudonymisation

Dechert LLP on

The EU General Court has overruled the European Data Protection Supervisor and held that pseudonymised data will not be personal data for the purposes of EU data protection law when transferred to a recipient that is unable...more

Ward and Smith, P.A.

Fourth Circuit Says "Do the Math" For Attorneys' Fees Awards

Ward and Smith, P.A. on

In North Carolina, a loan agreement can require a borrower to pay attorneys' fees upon default to reimburse the lender for collection expenses....more

Jones Day

Fraud, Electronic Data Sources and Claims to Privilege in the United Kingdom—Lessons From Brian Glasgow v David Ames

Jones Day on

In Short - The Situation: Insolvency officeholders increasingly find their investigations into a company's affairs frustrated by the comingling of records on a "group" server. Claims to privilege by other group entities (or...more

Arnall Golden Gregory LLP

Don’t Rock the Vote, Baby: 11th Circuit Confirms That Materially Adverse Ch. 11 Plan Modifications Require a New Disclosure...

In a detailed and emphatic ruling on January 5, 2023, the U.S. Court of Appeals for the 11th Circuit made it clear that if a pending Chapter 11 plan, after initial plan solicitation and voting by creditors, is modified in any...more

Skadden, Arps, Slate, Meagher & Flom LLP

How Directors Can Manage the UK Supreme Court’s ‘Balancing Exercise’ in Difficult Times

Economic downturns can put both companies and their boards to the test. An important judgment from the U.K. Supreme Court in October 2022, the Sequana case,1 clarifies the obligations of directors of a company facing the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

Blake, Cassels & Graydon LLP

La Cour suprême du Canada clarifie l’application des clauses d’arbitrage en matière d’insolvabilité

Dans le cadre de sa récente décision Peace River Hydro Partners c. Petrowest Corp., 2022 CSC 41 (l’« affaire Peace River »), la Cour suprême du Canada (la « CSC ») a précisé les circonstances dans lesquelles une convention...more

Blake, Cassels & Graydon LLP

Supreme Court of Canada Clarifies Application of Arbitration Clauses in Insolvency

In the recent case of Peace River Hydro Partners v. Petrowest Corp., 2022 SCC 41 (Peace River), the Supreme Court of Canada (the SCC) clarified the circumstances in which an otherwise valid arbitration agreement may be held...more

Bennett Jones LLP

The Supreme Court of Canada Rules on Intersection of Insolvency and Arbitration Law

Bennett Jones LLP on

On November 10, 2022, the Supreme Court of Canada (SCC) issued its much-anticipated decision in Peace River Hydro Partners v Petrowest Corp, 2022 SCC 41, addressing a key intersection of insolvency and arbitration law—whether...more

Venable LLP

UK Supreme Court Issues Long-Awaited Judgment Regarding Company Directors' Duties to Creditors

Venable LLP on

​​​​​​​In an important decision for U.S. companies with UK subsidiaries, the UK Supreme Court recently handed down its long-awaited judgment in BTI 2014 LLC v. Sequana S.A., the first case in which the UK's highest court...more

White & Case LLP

Call of Duty: Sequana and the state of directors’ duties

White & Case LLP on

Recently, the Supreme Court of the United Kingdom released its judgment in BTI 2014 LLC v Sequana SA1. This marks the first occasion on which the nature, scope and content of directors' duties to creditors when a company is...more

Goodwin

Do Directors Have a Duty to Consider the Interests of Creditors Prior to Insolvency?

Goodwin on

On 5 October 2022, the English Supreme Court handed down its decision in BTI 2014 LLC v Sequana SA and others. This (as described by Lady Justice Arden) “momentous” decision principally concerns whether directors are under...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Supreme Court Rules in Favour of Directors in Seminal Case on Directors’ Duties in ‘Zone of Insolvency’

In what Lady Arden described as a “momentous decision for company law,” the Supreme Court of the United Kingdom has confirmed that there are circumstances in which company directors are required to consider the interests of...more

Jones Day

Third Circuit Sets Standard for Appointment of Future Claims Representatives in Asbestos Bankruptcy Cases

Jones Day on

Unlike professionals retained in a chapter 11 case by trustees, debtors, or official committees, the Bankruptcy Code provides little guidance regarding the appointment of a representative for "future claimants" in a chapter...more

Proskauer Rose LLP

Suing Directors of a Troubled Business: When Form Trumps Substance

Proskauer Rose LLP on

Creditors of distressed businesses are often frustrated by shareholder-controlled boards when directors pursue strategies that appear to be designed to benefit shareholders at the creditors’ expense. In these circumstances,...more

Greenberg Glusker LLP

[Webinar] Breaking Down Bankruptcy Fraudulent Transfer and Preference Actions for Attorneys - September 15th, 10:00 am - 11:00 am...

Greenberg Glusker LLP on

This presentation is prepared for in-house counsel and other attorneys practicing outside of the bankruptcy space and will address the following questions that often arise when dealing with a party that later goes into...more

Proskauer - Minding Your Business

The (Third) Party’s Over? Recent Decisions Cast Doubt on the Continued Vitality of Third Party Releases in Chapter 11...

Two recent decisions by U.S. District Courts have rejected attempts to include nonconsensual third party releases in chapter 11 reorganization plans. These rulings suggest third party releases may be facing increasing push...more

Bennett Jones LLP

Court of Appeal Refines the Corporate Attribution Doctrine

Bennett Jones LLP on

The corporate attribution doctrine concerns the attribution of the actions of a corporation’s directing mind to the corporation itself.  On March 10, 2022, in Ernst & Young Inc. v. Aquino [Aquino], the Court of Appeal...more

Kerr Russell

No Foolin’: Bankruptcy Code Changes Go Into Effect On April 1

Kerr Russell on

For both debtors and creditors, the numbers are important in a bankruptcy proceeding. The Judicial Conference of the United States has announced that certain dollar amounts and dollar limitations in the U.S. Bankruptcy Code...more

Jones Day

The Year in Bankruptcy: 2021

Jones Day on

One year ago, we wrote that, unlike in 2019, when the large business bankruptcy landscape was generally shaped by economic, market, and leverage factors, the COVID-19 pandemic dominated the narrative in 2020....more

Arnall Golden Gregory LLP

Delaware Bankruptcy Court Rules That “Critical Vendor” Status Does Not Insulate a Creditor From Preference Claims

In what may be a pivotal ruling on the issue nationwide, a bankruptcy court in the influential District of Delaware has ruled that obtaining status as a so-called “critical vendor” in a commercial Chapter 11 case does not...more

Troutman Pepper

Bankruptcy Court Recharacterizes Alleged Loan as Equity Under Delaware Law

Troutman Pepper on

When is a loan not a loan? The SDNY Bankruptcy Court in In Re: Live Primary, LLC held that a $6 million start-up loan was actually an equity contribution after analyzing the terms of the transaction and the intent of the...more

43 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide