Restructuring

China FDA Announces Key Appointments and Restructuring Plan

by Katherine Wang | Ropes & Gray LLP on 5/21/2013

Following its recent re-elevation to the ministry level and the appointment of a new Commissioner in March, Mr. Yong Zhang, former Director of the Food Safety Office under the State Council of China, the China Food and Drug...more

Bond is Back

by Jonathan Bloom, James Douglas, Mike Goetz, Tony Horspool, Michael Kazakevich, Daniel Martin, W. Jane Rogers | Ropes & Gray LLP on 5/17/2013

Opportunities for investors in European HY Debt - Record amounts of HY issuance in Europe since 2010, much of which has refinanced the LBO bank debt maturity wall - Potential for significant restructuring...more

Chrysler Dealers File Brief Opposing Government’s Takings Appeal

by Nancie G. Marzulla on 5/14/2013

Nearly 150 former Chrysler dealers whose franchises were terminated as part of the Government’s TARP restructuring of Chrysler today filed their brief opposing the Government’s interlocutory appeal of their taking case in the...more

The Mergers & Acquisitions Review - Sixth Edition: Chapter 13: British Virgin Islands

by Leonard Birmingham, Simon Hudd | Harney Westwood & Riegels on 5/13/2013

I OVERVIEW OF M&A ACTIVITY - Given the international financial climate, it is perhaps unsurprising that the past 12 months have seen unpredictable deal flows involving British Virgin Islands (‘BVI’) companies, with...more

Q&A With Bilzin Sumberg's Scott Baena

by Scott Baena | Bilzin Sumberg Baena Price & Axelrod LLP on 5/8/2013

Scott L. Baena is a senior partner with Bilzin Sumberg Baena Price & Axelrod LLP in Miami and chairman of the firm's restructuring and bankruptcy group. His practice focuses on creditor's rights, workouts, bankruptcy and...more

The "Olympics of Restructuring": Kevyn Orr Named Detroit's EFM

by Tamar Dolcourt | Foley & Lardner LLP on 5/3/2013

Kevyn Orr, a University of Michigan Law School graduate and former partner at the law firm Jones Day, has been selected by Governor Rick Snyder as Detroit’s Emergency Financial Manager (EFM). As EFM, Orr will be responsible...more

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

by Bloomberg Law on 5/3/2013

May 3 (Bloomberg Law) -- Rodge Cohen, partner at Sullivan & Cromwell, tells Bloomberg Law's Lee Pacchia why the recent bailout of Cyprus's banking sector was a unique situation and not necessarily a template for dealing with...more

Businessweek Reporter: BigLaw Is "Crash Landing" [Video]

by Bloomberg Law on 5/2/2013

May 2 (Bloomberg Law) -- Paul Barrett, assistant managing editor and senior writer for Bloomberg Businessweek tells Bloomberg Law's Lee Pacchia that Big Law is currently experiencing "a very difficult crash landing that is...more

Inside M&A - Spring 2013

by Joseph S. Adams, Robert Clary II, Thomas P. Conaghan, Jeffrey Holdvogt, Joanne Ludovici, Jennifer Mikulina, Jeffrey Rothschild, Jake Townsend, Jeffrey Wagner | McDermott Will & Emery on 4/30/2013

Top Five Traps for the Unwary in Spin-Offs - A wave of corporate breakups has swept through the United States over the last few years as investors have taken notice of the fact that smaller companies focused on a...more

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

by Mark Chehi, Van Durrer | Skadden, Arps, Slate, Meagher & Flom LLP on 4/30/2013

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

MNPI and NDAs: The Alphabet Soup of Getting Restricted

by Philip Abelson, Martin Bienenstock, Vincent Indelicato | Proskauer Rose LLP on 2/25/2013

Investors wanting to equip and position themselves to negotiate a debtor's restructuring may temporarily relinquish their ability to buy and sell securities in exchange for access to material nonpublic information ("MNPI")....more

California Supreme Court Eases Admissibility of Oral Statements in Contract Fraud Disputes

by Melissa Lor | Schnader Harrison Segal & Lewis LLP on 2/22/2013

California, like most jurisdictions, prohibits parties to integrated contracts from introducing “parol evidence” — this is, evidence of prior written or verbal agreements made by a party to a contract — if those alleged...more

Commercial Restructuring & Bankruptcy Alert - February 2013

by Peter Clark, Joseph Filloy, Joanne Finch, Marsha Houston, Jeanne Stancampiano Lofgren, Elizabeth McGovern, Charlotte Møller, Ann Pille, Christopher Rivas, Jared Roach, Richard Robinson, more +Brian Schenker, Alison Wickizer Toepp, Lauren Zabel | Reed Smith on 2/21/2013

In this Issue: - Lenders Beware - International Insolvency Laws: Will One Size Fit All? The Debate Continues - ‘Fair and Equitable’ Means More Than Amortization Schedule - Pre-Petition Security License...more

Promises to Keep—Lender Beware: California Supreme Court Expands Parol Evidence Fraud Exception

by Craig A. Barbarosh, Jennifer Brooks, Karen B. Dine | Katten Muchin Rosenman LLP on 2/21/2013

In 1935, the California Supreme Court in Bank of America National Trust and Savings Ass’n v. Pendergrass prohibited a borrower from introducing external or parol evidence to demonstrate fraud in connection with an agreement...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

by Richard Orzy, Raj Sahni, Kevin Zych | Bennett Jones LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Indalex – Priorities and Pension Deficiencies

by Richard Borins, Michael De Lellis, Scott Horner, Kevin Morley, Edward Sellers | Osler, Hoskin & Harcourt LLP on 2/8/2013

On Friday, February 1, 2013, the Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re). The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial...more

Update on Preparing Living Wills for Bank Holding Companies and Depository Institutions

by Joseph T. Lynyak III, Rodney R. Peck | Pillsbury Winthrop Shaw Pittman LLP on 2/8/2013

This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more

Changes to Your Facility's Corporate Structure

by Kenneth L. Burgess | Poyner Spruill LLP on 2/7/2013

Thinking of selling your facility, or of changing your corporate entity from a partnership to a limited liability company, bringing in a new management company, or adding a new partner to your current partnership structure?...more

About the National Agreement Reached by Unions in France: Is French Labor Law Becoming More Flexible? Is the French Labor Code...

by Cecile Martin | Proskauer - International Labor Law on 2/7/2013

Over the past 2 years, several European countries, like Spain or the UK, have decided to simplify and lighten their labor and employment regulations to enable their companies to compete with emerging markets and to face the...more

Supreme Court of Canada Upholds Priority for DIP Lenders in CCAA Proceedings

by Michael N. Atlas, Lisa Corne, David Preger, Michael Weinczok | Dickinson Wright on 2/7/2013

Overview - On February 1, 2013, the Supreme Court of Canada (the “SCC”) affirmed the priority granted to Debtor-In-Possession (“DIP”) lenders who provide capital to debtor companies undergoing the restructuring process...more

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

by Anthony Devir, Edward Sellers | Osler, Hoskin & Harcourt LLP on 2/1/2013

The Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re) this morning. The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty...more

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China FDA Announces Key Appointments and Restructuring Plan

Bond is Back

Chrysler Dealers File Brief Opposing Government’s Takings Appeal

The Mergers & Acquisitions Review - Sixth Edition: Chapter 13: British Virgin Islands

Q&A With Bilzin Sumberg's Scott Baena

The "Olympics of Restructuring": Kevyn Orr Named Detroit's EFM

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

Businessweek Reporter: BigLaw Is "Crash Landing" [Video]

Inside M&A - Spring 2013

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

MNPI and NDAs: The Alphabet Soup of Getting Restricted

California Supreme Court Eases Admissibility of Oral Statements in Contract Fraud Disputes

Commercial Restructuring & Bankruptcy Alert - February 2013

Promises to Keep—Lender Beware: California Supreme Court Expands Parol Evidence Fraud Exception

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

Indalex – Priorities and Pension Deficiencies

Update on Preparing Living Wills for Bank Holding Companies and Depository Institutions

Changes to Your Facility's Corporate Structure

About the National Agreement Reached by Unions in France: Is French Labor Law Becoming More Flexible? Is the French Labor Code...

Supreme Court of Canada Upholds Priority for DIP Lenders in CCAA Proceedings

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

"House Ways and Means Committee’s Tax Reform Proposals for Financial Products"

Skadden's 2013 Insights: Corporate Restructuring

Massachusetts Offers Guidance On Mortgage Modifications For Non-Delinquent Borrowers And Troubled Debt Restructuring

Pension Plan Restructuring (Part IV) – Plan Amendments

Cohen: Cyprus Is Not A Template For Future Restructurings [Video]

Businessweek Reporter: BigLaw Is "Crash Landing" [Video]

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