In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more
Material Chapter 11 cases have morphed to the point that the outcome is often predetermined at the “first day” hearing. Unsecured creditors with material credit exposure should engage early to protect their interests and...more
On 5 July 2022, SAS AB and 13 affiliates filed for Chapter 11 protection in the Southern District of New York. Owned 44% by the Kingdoms of Denmark and Sweden, SAS encountered financial turbulence resulting from increased...more
10/14/2022
/ Airlines ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Lenders ,
Reorganizations
David examines the impact of ipso facto clauses with reference to UK and Dutch insolvency proceedings by Simeon Gilchrist and Nicolaes Tollenaar.
Originally published in Eurofenix, Winter 2020/2021.
...more
David Conaway reports on a ruling by the English High Court in late 2018 that impacted the US Chapter 11 proceedings in Delaware.
Originally published in Eurofenix, Spring 2019.
...more
4/10/2019
/ 363 Sales ,
Chapter 11 ,
Cross-Border Insolvency Regulations (CBIR) ,
Debt Restructuring ,
Foreign Jurisdictions ,
Foreign Subsidiaries ,
Insolvency ,
Member State ,
The Model Law ,
UK ,
UNCITRAL
A June 2018 Bankruptcy Court decision in the Southern District of New York (SDNY) held that foreign companies with no presence in the U.S. were subject to default judgments....more
10/25/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Default Judgment ,
Federal Rules of Civil Procedure ,
Foreign Corporations ,
Fraudulent Transfers ,
Hague Convention ,
Insolvency ,
Jurisdiction ,
Summons
In the Chapter 15 proceeding of Energy Coal S.p.A., the Delaware Bankruptcy Court required a U.S. creditor to recover its claim in Italy....more
Companies expend substantial resources managing the credit risk of customers, to protect the value of their sales. Many companies, however, do not always apply credit risk analysis to its supply chain, focusing instead on...more
I am pleased to share a great article on the recent reform of German insolvency law regarding avoiding pre-insolvency transactions by my good friend and colleague Annerose Tashiro, a leading cross-border insolvency specialist...more
I had an occasion recently to compare the preference laws of the US and Canada in a cross-border matter, and wanted to share the attached compendium comparing the insolvency laws of the U.S., Canada and Mexico, Insolvency...more
Reuters, Bloomberg and Debtwire are all reporting negative financial information about your customer:
"Bond ratings are down-graded, bond prices are falling, a likely “restructuring” to address the bond debt,...more
Originally published in eurofenix - Winter 2012/2013.
David Conaway looks at alternative sources of working capital in US and Canadian insolvencies.
It has been reported that Wal-Mart, the world’s largest retailer...more