Restructuring

News & Analysis as of

A Conversation with John Houghton on Asia Restructurings [Video]

Latham & Watkins co-hosted a senior-level industry summit with ASIFMA in Hong Kong entitled "Maximizing Outcomes in Upcoming Restructurings" where Latham partner John Houghton addressed key issues European companies need to...more

Tronox Inc. v. Anadarko Petroleum Corp. (In re Tronox Inc.) – Bankruptcy Court Takes Unusual Steps to Declare Corporate...

Companies that have valuable assets but also face significant liabilities will sometimes engage in restructurings to isolate, or “ring-fence,” the good assets from the liabilities. Often the companies are able to accomplish...more

Detroit Bankruptcy Update: Sixth Circuit Throws Wrench into Restructuring Timetable

Earlier this month the Sixth Circuit Court of Appeals ruled that the appeal of Syncora Guarantee Inc. must be heard by the lower federal district court before the bankruptcy court may conduct its trial on the city’s proposed...more

Global Insight: News, Views and Analysis from DLA Piper’s Global Restructuring Group - Issue 10, Q2 2014

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

Commercial Restructuring & Bankruptcy Newsletter - June 2014

In this issue: - Are Breakup Fees at Risk? - Credit Bidding Rights Limited, Capped by Debt Purchase Amount - Court Upholds Creditor’s Security Interest Despite Post-Petition Lapse of Financing Statement...more

Puerto Rico Poised to Enact Bankruptcy-Like Legislation for Certain Revenue Bond Issuers

Puerto Rico’s Governor Alejandro Garcia Padilla today introduced debt restructuring legislation which, upon enactment, would provide a judicial debt relief process in Puerto Rico’s courts for certain public corporations,...more

‘Flip-Up Pre-Packs’ – A new approach to accessing the UK insolvency regime

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

A Conversation with Rajiv Gupta on Asia Restructurings  [Video]

Latham & Watkins co-hosted a senior level industry summit with ASIFMA in Hong Kong entitled "Maximizing Outcomes in Upcoming Restructurings." Latham & Watkins' partner Rajiv Gupta shares insights from the summit....more

Restructuring of tax-exempt obligations used to finance affordable housing projects and “tax reissuance”

Recently I have assisted several clients restructure the tax-exempt obligations originally issued to finance their affordable housing projects. The purpose of these restructurings has been for anything from reducing the...more

A Conversation with Ben Simpfendorfer on Asia Restructurings [Video]

Latham & Watkins co-hosted a senior level industry summit with ASIFMA in Hong Kong entitled "Maximizing Outcomes in Upcoming Restructurings." Ben Simpendorfer, Managing Director of Silk Road Assoicates, shares insights from...more

A Grand Bargain? Detroit Defends Restructuring Plan

Over the Memorial Day weekend, while many around the country were enjoying beautiful weather, the lawyers for the city of Detroit were busy filing a lengthy defense to their proposed restructuring plan, which is slated to be...more

Delaware Court Rules Nevada Law Governs But Applies Delaware Law

Although there are many significant differences between the corporate laws of Nevada and Delaware, the Nevada Supreme Court has often looked across the country to Delaware. Thus, the Nevada high court has adopted Delaware’s...more

A Conversation with David Heller on Asia Restructurings [Video]

Latham & Watkins co-hosted a senior level industry summit with ASIFMA in Hong Kong entitled "Maximizing Outcomes in Upcoming Restructurings." Latham & Watkins' partner David Heller shares insights from the summit....more

European Revolution vs. English Evolution

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

A Conversation with Robyn Meredith on Asia Restructurings [Video]

Latham & Watkins co-hosted a senior level industry summit with ASIFMA in Hong Kong entitled "Maximizing Outcomes in Upcoming Restructurings." Robyn Meredith, Managing Director of REORIENT Financial Markets Limited and...more

Maximizing Outcomes in Upcoming Asia Restructurings - Executive Summary [Video]

Industry leaders from Asia, London and the US debate the economic environment, rising debt levels in Asia and signs that more Asian companies will have to restructure their obligations....more

The M&A Word of the Day® from the Book of Jargon® – Global Mergers & Acquisitions is Locked Box [Video]

Latham & Watkins partner Thomas Forschbach explains the M&A term Locked Box, a completion mechanism whereby the amount payable by the buyer is calculated off a historical balance sheet of the target company. For additional...more

Identifying Further Restructuring Risks in Germany - Federal Court of Justice Clarifies Liability for Continuing the Business of...

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

Spain amends tax treatment of debt restructuring

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

Material Reform of the Spanish Insolvency Law

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

FINRA Proposes Separate Rules for Firms Whose Activities Are Limited to Advice on Capital Raising and Restructuring and...

In Regulatory Notice 14-09, FINRA requested public comment on a proposal to adopt a narrower set of rules (the “Proposed LCFB Rules”) for member firms that meet the definition of “limited corporate financing broker” (each, an...more

FINRA Proposes Significant Changes To Regulatory Regime For Limited Corporate Financing Brokers

The Financial Industry Regulatory Authority has issued Regulatory Notice 14-09 soliciting comments on a proposed new regulatory structure for firms that limit their activities to advising companies and private equity funds...more

Business Litigation Report -- February 2014

In This Issue - Firm News: ..Kathleen Sullivan Featured in December 2013 The American Lawyer Cover Story ..Quinn Emanuel Named to BTI’s 2014 “Client Service A-Team” Honor Roll Main Article: ..Overview...more

February 2014: Bankruptcy & Restructuring Update

Second Circuit Holds that Section 109 Eligibility Requirements Apply to Foreign Entities in Chapter 15 Bankruptcy Cases. Recently, the United States Court of Appeals for the Second Circuit held that the eligibility...more

Zlomrex International Finance S.A. – completion of restructuring via Scheme of Arrangement

On 4 February 2014, our client, Zlomrex International Finance S.A. (“ZIF”), completed the restructuring of its approximately €118 million senior secured high yield notes due 2014 (the “Existing High Yield Bonds”). ZIF, a...more

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