Recent Changes to BVI Company Law: What You Need to Know
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Bankruptcy Basics and Recent Developments
Business Succession Planning: Strategies for the Transition
Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Should a court simply...more
The Privy Council has recently upheld a BVI judgment refusing stay of a winding up petition in favour of arbitration. The recent Sian Participation Corp (In Liquidation) v Halimeda International Ltd1 Privy Council decision...more
It is important to understand the step doctrine and how it applies to IRS audits and state tax investigations, including California tax audits. The "step doctrine" is a concept not directly found in federal or California...more
In an unprecedented turn of events, two recent proceedings in the Grand Court of the Cayman Islands considered the same complex legal issues just one week apart. Both In the Matter of HQP Corporation Limited (assigned to...more
Retailer 99 Cents Only Files for Bankruptcy, Plans to Shut Down | Reuters - Budget retailer 99 Cents Only filed for Chapter 11 bankruptcy protection in Wilmington, Delaware, and stated that it plans to shut down all of its...more
A significant recent decision by the Fifth Circuit Court of Appeals in the case of Raymond James & Assocs. V. Jalbert (In re German Pellets La., L.L.C.), 91 F.4th 802 (5th Cir. 2024) (German Pellets), underscores the...more
We are very pleased to present the third edition of our Luxembourg corporate law-focused case law briefing. In this edition, we are focusing on the 2022 calendar year rulings we identified to be the most relevant for...more
The Court of Appeal has given valuable and clear guidance on the circumstances in which applications during an ongoing liquidation may constitute ‘final decisions’ for the purpose of bringing appeals to His Majesty in Council...more
Introduction - In two relatively recent offshore cases, the differing views of creditors and shareholders (and management) have been considered in the context of winding up pro- ceedings, including the criteria for the...more
The Quincecare duty has become a popular tool for companies (or their liquidators) to claim against banks for funds misappropriated on wrongful payment instructions. It requires a bank to refrain from executing a payment...more
Members of an LLC are required to pitch in equally for the LLC’s expenses and debts, right? Generally, no....more
Under section 213 Insolvency Act 1986, liquidators may bring claims against third parties suspected of being a party to fraud, even where they were not involved in the management or control of the insolvent company. The...more
The UK Supreme Court has found that an introducer of business was not entitled to any remuneration for a valuable introduction outside of circumstances expressly provided for in the contract. This judgment highlights the...more
On December 21, 2022, the California Supreme Court denied review of a controversial Court of Appeal decision from earlier last year that prohibited lenders from charging default interest against the principal balance of any...more
Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...more
The Supreme Court has ruled, for the first time, on the existence, specific content and engagement of the so-called “creditor duty” or the “rule in West Mercia”. In doing so, it unanimously dismissed BTI’s appeal. ...more
The Court of Appeal ruled that losing proprietary rights under foreign law could invalidate personal claims against third party recipients of trust assets. On 27 January 2022, the UK Court of Appeal unanimously dismissed...more
In JPMorgan Chase Bank, N.A. v. Campbell, a member of a limited partnership sued other partners, including a trustee of a trust, to dissolve the partnership. No. 09-20-00161-CV, 2021 Tex. App. LEXIS 5001 (Tex. App.—Beaumont...more
In Drivetrain LLC v. Kozel (In re Abengoa Bioenergy Biomass of Kansas LLC), 18-3120 (10th Cir. May 5, 2020), the Tenth Circuit held that the doctrine of equitable mootness applies to appeals of confirmed Chapter 11 plans of...more
Swaps, together with repurchase agreements, forward contracts, securities contracts and commodities contracts receive special treatment under the bankruptcy code-they are largely exempt from the automatic stay, bankruptcy...more
Recent decisions in Singapore and New Zealand confirm that the courts are prepared to act to provide greater certainty and support to stakeholders in cryptoassets....more
Are the regimes of construction adjudication and insolvency incompatible? Recent Court of Appeal authority suggested that they are, but in Meadowside Building Developments Ltd (In Liquidation) v 12-18 Hill Street Management...more
In the fifth opinion involving the repo liquidation saga of HomeBanc, the Third Circuit addressed several crucial issues involving the liquidation and valuation of repo collateral in bankruptcy. In re HomeBanc Mortg....more
A risk retention group (RRG) is a state-chartered insurance company that insures commercial businesses and government entities against liability risks, including medical malpractice. In 2017, Oceanus Insurance Company, RPG,...more
In Vneshprombank LLC v Georgy Bedzhamov and ors [2019] EWCA Civ 1992 the Court of Appeal reaffirmed the approach to ascertaining the "ordinary living expenses" of a respondent to a freezing injunction....more