Manipulation of “center of main interest” to secure UK bankruptcy venue does not bar chapter 15 recognition so long as creditors are not disadvantaged. On February 24, 2025, U.S. Bankruptcy Judge Michael E. Wiles granted...more
U.S. Bankruptcy Court does not enforce an asset freeze order from a Brazilian insolvency proceeding recognized under chapter 15 of the Bankruptcy Code.
Recognition of a foreign proceeding under chapter 15 of the Bankruptcy...more
10/3/2024
/ Asset Freeze ,
Bankruptcy Code ,
Bankruptcy Court ,
Brazil ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Damages ,
Debtors ,
Federal Rules of Civil Procedure ,
Foreign Investment ,
Insolvency ,
Piercing the Corporate Veil ,
SCOTUS
After a U.S. District Court departed from the “apparent consensus” that an official committee automatically dissolves when the chapter 11 case is dismissed, the Talc Claimants’ Committee in the similarly dismissed In re LTL...more
Nonconsensual nondebtor releases have been a key reason businesses facing mass tort claims have filed for bankruptcy. They hope chapter 11 will result in a faster, less expensive resolution of mass tort claims than class...more
8/30/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Corporate Restructuring ,
Injunctions ,
Insolvency ,
Non-Consensual Rights ,
Non-Debtors ,
Purdue Pharma ,
SCOTUS ,
Trustees
Courts remain divided as to whether electricity is a good (resulting in an administrative claim for electricity provided in the 20-day period before a bankruptcy case is filed) or service (no administrative...more
Public policy concerns associated with contracts impacted by energy industry bankruptcies filed in the Fifth Circuit will be resolved in bankruptcy court mini-trials instead of FERC proceedings.
Parties entering energy...more
Hospitality debtors with substantial equity but prolonged depressed revenues due to COVID-19 may find negative amortization, a tool used sparingly pre-pandemic, helpful in the restructuring of mortgage debt under a chapter 11...more
2/25/2021
/ Amortization ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Real Estate Market ,
Coronavirus/COVID-19 ,
Debt Restructuring ,
Debtors ,
Hospitality Industry ,
Mortgages ,
Recovery Plans ,
Remote Working