First Republic Executives Fail in Attempt to Recover Nonqualified Deferred Compensation Plan Assets
Business Better Podcast Episode: Know The Facts: Silicon Valley Bank Receivership FAQs for Swaps
What Does UCRERA Mean For Creditors? [More with McGlinchey Ep. 13]
Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy
Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more
California’s cannabis industry continues to struggle in this seemingly unending shake out period. Namely, hundreds of licensed cannabis companies are getting stiffed on A/R with an overwhelming inability to collect as those...more
Some sectors of the insurance industry, like the property market, for example, have sustained significant financial losses that have resulted in an uptick in the number of insurance companies being ordered into receivership. ...more
In this multi-part series, we highlight strategic steps that nonprofits can take to build organizational resilience in three different phases of its life cycle—in times of health, when beginning to experience financial or...more
This guide offers an overview of legal aspects of bankruptcy, insolvency and rehabilitation in the requisite jurisdictions. It is meant as an introduction to these market places and does not offer specific legal advice. This...more
The federal bankruptcy courts are largely inaccessible to companies that operate in the cannabis space¹. While cannabis companies cannot wholly avoid pending lawsuits, or the ability to restructure or maximize value through a...more
In In re Rehabilitation of Scottish Re (U.S.), Inc., C.A. No. 2019-0175-JTL (Del. Ch. Apr.18, 2022), the Delaware Court of Chancery ruled, as a matter of first impression, that in a delinquency proceeding for an insurance...more
NMC Health plc (NMC Health) made news around the globe in December 2019 when it was the subject of a Muddy Waters report which alleged various bad acts had been carried out by the company. NMC Health was subsequently placed...more
As many Americans are faced with the fallout of the COVID-19 pandemic, some business owners are now tasked with creating a clear path forward without traditional means of financial relief. Of its many tragic consequences,...more
We’ve written from time to time, about the need to allege pre-suit demand or demand futility where a shareholder seeks to sue derivatively on behalf of a corporation for whom the court has appointed a receiver....more
On March 31, 2020, the Rhode Island Superior Court announced the creation of its COVID-19 Receivership Program. The Program establishes a unique non-liquidating receivership calendar intended to assist Rhode Island businesses...more
Last week’s post examined an unusual case in which the court appointed a temporary receiver of an LLC pending the adjudication of the minority members’ petition for judicial dissolution....more
Article 11 of the Business Corporation Law features multiple provisions giving judges broad authority and discretion to impose interim remedies designed to preserve corporate assets and otherwise to protect the petitioning...more
The Federal Court of Australia has provided judicial guidance about what constitutes taking possession by seizure under the Personal Property Securities Act 2009 (Cth) ("PPSA"). Knauf Plasterboard Pty Ltd v Plasterboard West...more
You can "wind up" a partnership without having to liquidate all of its assets and terminating its existence. So ruled Judge McGuire last week in Hardin v. Lewis, 2016 NCBC 55. But that may not be true for all partnerships. ...more
The general notion behind receiverships is to preserve property pending the outcome of a case, or the foreclosure of real property or such other time as the Court deems a Receiver is not required....more
Troubled financial institutions, some with substantial broker dealer operations, played a prominent role in the 2008 financial crisis. In an effort to protect the financial system from serious threats posed by significant...more
These two decisions hold that an advancement claim should be treated as a claim of a general creditor by a company in liquidation. Hence, those claims do not get priority in payment along with administrative expenses of the...more