News & Analysis as of

Commercial Restructuring & Bankruptcy Alert - October 2014

In this issue: - Judge Says That Stockton, California Can Cut Pension Obligations - Third-Party Releases – Better Make Sure They Are Adequately Disclosed - Lawyers Who Sign Proofs of Claims for Clients...more

Doing Business in Canada: Bankruptcy and Insolvency

BANKRUPTCY & INSOLVENCY - In Canada, an “insolvent company” (or “person”) refers to an entity which is not bankrupt and which resides, carries on business or has property in Canada; and which is unable to meet or has...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

‘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

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

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

"Using Chapter 11 to Restructure Non-US and Multinational Companies"

Chapter 11 of the U.S. Bankruptcy Code is the most well-developed law of any insolvency regime in the world for helping troubled companies restructure their affairs. Some nations, like Canada and the United Kingdom, also have...more

Germany’s Insolvency Reform Enables Loan-To-Own Strategies

Frank Grell is a partner at Latham & Watkins who chairs the firm’s German Restructuring and Insolvency Practice. Grell reflects on some of the major changes brought about by Germany’s 2012 Insolvency Act (Insolvenzordnung),...more

The Cooperative Bank’s Restructuring – will this be a case of lessons learned?

The UK’s bank regulatory and insolvency law structures were unprepared for the global financial crisis. As a result, the UK government’s response to intense bank stress in the immediate aftermath of the crunch led to a number...more

Bond is Back

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

Commercial Restructuring & Bankruptcy Alert - February 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

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

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

Doing Business in Canada: Restructuring & Insolvency

Companies doing business in Canada must be aware of and understand the consequences when they, or the companies with which they are dealing, encounter financial difficulties. There are important differences between the...more

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