The M&A Word of the Day® from the Book of Jargon® – Global Mergers & Acquisitions Is Distressed Sale
U.S. Bank Wins Coverage Under Delaware Law For $55 Million Overdraft-Related Settlement -
Why it matters:
In a victory worth tens of millions of dollars, a Minnesota federal court ruled that U.S. Bank is...more
In This Issue:
- WHAT DOES THE DELAWARE CHANCERY COURT’S RURAL/METRO RULING MEAN FOR ADVISORS TO DISTRESSED COMPANIES?
- US: OUTLOOK FOR CORPORATE RESTRUCTURING
- RABOBANK DECISION — SPECIAL DUTY OF...more
Chapter 15 of the United States Bankruptcy Code is a relatively recent addition to the American bankruptcy statute and it incorporates the United Nations Commission on International Trade Law Model Law on Cross-Border...more
The UK has long-since established itself as a jurisdiction of choice for complex cross-border restructurings involving corporate groups whose principal operations are overseas. Typically, the English Court has accepted...more
Allegheny County Court of Common Pleas Senior Judge R. Stanton Wettick Jr.'s recent ruling in Red Vision Systems v. National Real Estate Information Services, No. 14-0411 (Comm. Pls. Feb. 26, 2014), that the attorney-client...more
Can a foreign person exclude foreign-situs assets in determining insolvency exception to cancellation of indebtedness income?
With the worldwide global default rate on corporate debt continuing to rise, a taxpayer’s...more
Update on Case Law Developments in English Restructuring
This client alert will focus on three of the key recent cases of the past six months, each of which features the use of English law restructuring tools for...more
Latham & Watkins partner Zachary Judd explains the M&A term Distressed Sale, a term for a transaction in which the target company is in or near the zone of insolvency. For additional definitions of the legal and business...more
In this article on the changing landscape of UK fashion retail, we consider the challenges and changes faced by the industry and comment on the opportunities available for existing players and potential new entrants to the...more
Frank Grell is a partner at Latham & Watkins who chairs the firm’s German Restructuring and Insolvency Practice. In this interview, he reflects on several successful applications of the German Insolvency Act...more
In a case that demonstrates the danger of relying on complex corporate structures to avoid personal liability, a California Court of Appeal recently held two limited partners personally liable for the debts of their limited...more
This issue considers the most important provisions of the resolution adopted at the Plenary Session of the Supreme Commercial Court of the Russian Federation (the “SCC”) No. 88, dated 6 December 2013, “On Accrual and Payment...more
Executive Order n° 2014-326 of 12 March 2014 reforming French insolvency proceedings was published in the Official Journal of the French Republic (Journal officiel de la République Française) on 14 March...more
The Financial Crisis, a difficult market situation and a tense liquidity status have led to remarkable difficulties for mid-sized businesses within the past years. Strategic and financial investors have and continue to...more
As a result of a substantial reform of the Insolvency Law, starting January 1, 2014 the tax treatment of debt restructuring modifies both Spain's Corporate Income Tax Law and its stamp duty regulations....more
The Royal Decree Law 4/2014 of 7 March significantly amends the Spanish Insolvency Law, ostensibly in favor of refinancing agreements.
With the approval of Royal Decree Law 4/2014 of 7 March on urgent measures...more
In a prior post (“Emerging Statutory Threats to Recourse Triggers”), we tackled Michigan and Ohio statutes that invalidated non-recourse triggers sprung by certain types of insolvency events. As noted there, the statutes were...more
Article 2 of Law no. 2014-1 of 2 January 2014 enabled the French government to simplify and secure the legislation relating to companies in difficulty.
Following consultation with practitioners, the French government...more
Landlords' set to obtain "full value" as a result of re-statement of ancient equitable principle -
Pillar Denton Limited and others v Jervis and others -
In a ruling relating to the stricken...more
Luxembourg court decisions allow secured lenders to enforce Gecina share pledge.
A controversial insolvency dispute winding its way through courts in Spain and Luxembourg may reinforce the rights of secured lenders to...more
Chapter 11 of the U.S. Bankruptcy Code is the most well-developed law of any insolvency regime in the world for helping troubled companies restructure their affairs. Some nations, like Canada and the United Kingdom, also have...more
The statutory gateway to an insolvency process under U.K. law hinges on the definition of insolvency in the Insolvency Act 1986 (IA 1986). However, a 2013 decision by the Supreme Court of the United Kingdom has created...more
A recently published ruling of a Hungarian regional court of appeal has held that the enforcement of claims by an insolvent claimant in arbitration is contradictory to the aims of the insolvency proceedings and to a...more
On 13 December 2013, the Court of Session ruled that the liquidators of The Scottish Coal Company Limited (SCC) were not able to disclaim ownership of certain open-cast mines and the environmental permits which were connected...more
With recovery in financial markets starting to take hold it is an exciting time to launch our Global Financial Markets Insight. The purpose of our new quarterly is to help guide new and experienced users of...more
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