Approaching its 20-year anniversary, chapter 15 of the Bankruptcy Code has proven to be an invaluable tool for facilitating cross-border bankruptcy and insolvency cases. As foreign debtors have increasingly relied on chapter...more
5/27/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
COMI ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Cross-Border ,
Debt Restructuring ,
Debtors ,
Foreign Jurisdictions ,
Jurisdiction ,
Scheme of Arrangement ,
UNCITRAL ,
Venue
On March 11, 2025, the Committee to Enhance Singapore's Corporate Restructuring and Insolvency Regime (the "Committee") published a report (the "Report") outlining its recommendations to further enhance and modernize...more
Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
The Year in Bankruptcy: 2024 -
A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more
2/4/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Restructuring
The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more
8/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Trustees ,
U.S. Treasury
Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more
The Situation: The Adler Group sought to restructure more than €6 billion of debt by means of a UK restructuring plan ("RP"), to give itself a runway for a planned wind-down and asset sales, leading to an enhanced return for...more
2/9/2024
/ Commercial Bankruptcy ,
Cramdown ,
Creditors ,
Debt ,
Debt Restructuring ,
Insolvency ,
Jurisdiction ,
Lenders ,
Pari Passu ,
Restructuring ,
Shareholders ,
UK ,
Winding Down
Secured Lender’s Credit Bid Right In Bankruptcy Sale Denied -
A secured creditor’s right to “credit bid” the amount of its allowed claim in a bankruptcy sale of its collateral is an important creditor protection codified...more
Cross-border bankruptcy cases filed in the U.S. under chapter 15 of the Bankruptcy Code on behalf of foreign businesses doubled during 2020 and are on pace to set another record-breaking year in 2021 (with more than 123...more
Chapter 11 Plan Distributions Are Not Collateral Covered by Intercreditor Agreement's Waterfall Provision -
In In re Energy Future Holdings Corp., 2019 WL 2535700 (3d Cir. June 19, 2019), a panel of the U.S. Court of...more
9/26/2019
/ Bankruptcy Code ,
Bankruptcy Reform ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Cross-Border ,
Debt Restructuring ,
Debtors ,
Financial Institutions ,
Insolvency ,
Trump Administration
With the significant increase in cross-border bankruptcy and insolvency filings in the 43 nations or territories that have adopted the UNCITRAL Model Law on Cross-Border Insolvency (the "Model Law"), including the U.S., the...more
11/22/2017
/ Cayman Islands ,
Chapter 15 ,
COMI ,
Commercial Bankruptcy ,
Credit Agreements ,
Cross-Border ,
Debt Restructuring ,
Debtor-Creditor ,
Financial Institutions ,
Foreign Debt ,
Insolvency ,
Jurisdiction ,
Liquidation ,
Securities and Exchange Commission (SEC)
In cross-border restructuring cases, interested parties increasingly rely on court-approved insolvency protocols to aid in managing complex insolvencies involving debtors' assets, liabilities, or operations that span...more
9/6/2017
/ Chapter 11 ,
Claim Procedures ,
Commercial Bankruptcy ,
Confidential Information ,
Corporate Restructuring ,
Cross-Border Transactions ,
Debt Restructuring ,
Debtors ,
Dispute Resolution ,
Information Sharing ,
Insolvency ,
International Litigation ,
Trustees
In cross-border restructuring cases, including cases under chapter 15 of the U.S. Bankruptcy Code and versions of the UNCITRAL Model Law on Cross-Border Insolvency enacted in 42 other nations or territories, interested...more
On April 5 and June 8, 2017, the U.S. House of Representatives passed bills (the Financial Institution Bankruptcy Act of 2017 ("FIBA") and the Financial CHOICE Act of 2017) that would allow financial institutions to seek...more