Restructuring Creditors

News & Analysis as of

The UK continues its objective stance on rescue procedures

The High Court has considered whether a winding-up petition is permitted where the Petitioner has a collateral purpose for bringing the petition. The collateral purpose, also referred to as an ulterior motive, would result in...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

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

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

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

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

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

Trust Me – A Security Trustee’s Duties to Subordinated Creditors Examined

The recent judgment of Saltri III Ltd v MD Mezzanine S.A. Sicar & Ors1 relates to the 2010 non-consensual restructuring of the Stabilus Group. The judgment provides a helpful overview of the way fiduciary relationships...more

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