On October 14, 2022, the Fifth Circuit issued its decision in Ultra Petroleum, granting favorable outcomes to “unimpaired” creditors that challenged the company’s plan of reorganization and argued for payment (i) of a ~$200...more
10/20/2022
/ Commercial Bankruptcy ,
Corporate Finance ,
Corporate Financing ,
Corporate Officers ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Oil & Gas ,
Petroleum ,
Reorganizations
On August 26, 2020, the Court of Appeals for the Third Circuit held that the Bankruptcy Code does not require subordination agreements to be strictly enforced in order for a court to confirm a cramdown plan, so long as the...more
On January 14, 2020, the Supreme Court of the United States issued a decision resolving the question of whether a motion for relief from the automatic stay constitutes a discrete dispute within the bankruptcy that creates a...more
2/8/2020
/ Appeals ,
Automatic Stay ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dismissals ,
Federal Rules of Bankruptcy Procedure ,
Motion for Relief from Automatic Stay ,
Reaffirmation ,
Right To Appeal ,
Ritzen Group Inc v Jackson Masonry LLC ,
SCOTUS ,
Time-Barred Claims
Intercreditor agreements between secured creditors are intended to limit the potential for litigation and result in predictable commercial outcomes with respect to recoveries from collateral in enforcement actions and...more
On November 8, 2018, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued a decision dismissing an involuntary chapter 11 case filed against Taberna Preferred Funding IV,...more
Parties involved in cross-border bankruptcy /restructuring situations may be wary of the risk that repeated litigation in different courts with jurisdiction over the same debtor will result in conflicting judgments. The...more
12/19/2018
/ Affiliates ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Creditors ,
Croatia ,
Debtors ,
Foreign Affiliates ,
Foreign Persons ,
Jurisdiction ,
Settlement Agreements
When it comes to voting on a plan, Section 1126(e) of the Bankruptcy Code provides that a bankruptcy court may designate (or disallow) the votes of any entity whose vote to accept or reject was not made in “good faith” (a...more
On September 30, 2015, the United States District Court for the Southern District of New York (the “District Court”) denied the motion of Lehman Brothers Holdings Inc. (“LBHI,” and collectively with all of LBHI’s...more
On June 29, 2015, the United States Court of Appeals for the Second Circuit affirmed the decision of the United States Bankruptcy Court for the Southern District of New York, which held that claims asserted by counterparties...more
7/16/2015
/ Appeals ,
Bankruptcy Code ,
Bilateral Agreements ,
Broker-Dealer ,
Commercial Bankruptcy ,
Contract Interpretation ,
Creditors ,
Lehman Brothers ,
Repurchases ,
SIPA ,
Stock Repurchases ,
Trustees