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King & Spalding

Michigan Bankruptcy Court Rejects Usury Theory for Future Receipts Sale

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A federal bankruptcy court rejected a novel usury theory in an adversary proceeding arising out of the bankruptcy of a collegiate apparel company....more

Foley & Lardner LLP

The Clock Is Already Running on Your Right to Get Paid

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What Oilfield Services Companies Need to Know About Texas Mineral Liens Before a Customer Gets Into Trouble - Nine Energy Service filed for Chapter 11 bankruptcy protection on February 1, 2026. The Houston-based completion...more

Walkers

Leave it to the Liquidators: The Court’s supervisory role in BVI liquidations after Jin Yao v Forever Winner

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Everyone familiar with the English Court’s practice in winding up companies under the Insolvency Act 1986 will recognise the ‘usual compulsory order’: the order by which a company is placed into compulsory liquidation by the...more

Nelson Mullins Riley & Scarborough LLP

Purdue Stops at the Border? Chapter 15 and Foreign Plan Releases

When the Supreme Court decided Harrington v. Purdue Pharma L.P., many assumed the era of nonconsensual third-party releases was over. That assumption is largely right in domestic Chapter 11 cases. It is wrong in Chapter 15....more

Mayer Brown

The Qualified Subordination Declaration – Opportunities and Risks

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I. WHY THIS TOPIC IS IMPORTANT: Shareholder loans are a proven tool for corporate financing, particularly in small and medium-sized “Mittelstand” enterprises. If a company encounters financial difficulties, these...more

Blake, Cassels & Graydon LLP

Insolvabilité au Canada : Principaux développements et tendances émergentes

Plusieurs décisions judiciaires notables rendues en 2025 demeurent importantes pour les entreprises, les prêteurs commerciaux et les professionnels de l’insolvabilité. Dans ce bulletin, nous résumons certains des...more

King & Spalding

New York Bankruptcy Court Permits Claims to Proceed That Merchant Cash Advance Agreements Were Disguised Loans

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On February 20, 2026, the U.S. Bankruptcy Court for the Southern District of New York largely denied motions to dismiss filed in an adversary proceeding challenging the debtors’ obligations under purported merchant cash...more

IR Global

Is Chapter 11 Facing New Competition? The Rise of Offshore Restructuring and Chapter 15 Recognition

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As cross-border insolvencies continue to evolve, a notable shift is emerging in how complex restructurings are being executed. While Chapter 11 has long been the dominant forum for large corporate reorganizations, an...more

DLA Piper

Receivership Order precludes whiskey maker’s effort to obtain bankruptcy relief

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On March 19, 2026, the United States Bankruptcy Court for the Eastern District of Tennessee (Bankruptcy Court) dismissed the Chapter 11 cases filed by whiskey company Uncle Nearest, Inc. (Uncle Nearest) and certain...more

Seward & Kissel LLP

That’s the Spirit, Effective Immediately, and Claim Baggage

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Following the airline’s bankruptcy filing, a judge has approved Spirit Airlines’ package of wind-down motions after the company’s unsuccessful attempts to secure federal financing. The motion comes after Spirit Airlines shut...more

Paul Hastings LLP

Beyond the Ringfence: Restructuring Plans, Tax Losses and the Limits of HMRC’s Challenge

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In a key test case on the relevance of tax losses (and more broadly, HMRC) under Part 26A of the Companies Act 2006, Mr Justice Michael Green in the High Court has sanctioned the second restructuring plan (RP2) of Waldorf...more

Roetzel & Andress

Spirit Airlines and the Limits of Chapter 11 Reorganization

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The recent shutdown of Spirit Airlines during its Chapter 11 reorganization process is a demonstration of both the benefits and pitfalls of Chapter 11 restructuring. Chapter 11 gives a respite from prior debt and the ability...more

Whiteford

Client Alert: Fundraising Platform Failures and Increasing Government Scrutiny Highlight Need for Diversification and Ongoing...

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Charitable fundraising is under increased regulatory oversight and heightened donor expectations as evidenced by four recent developments. Together with the possible end of one fundraising channel and start of an innovative...more

King & Spalding

Bankruptcy Court Denies Minority Lenders’ Request to Certify Immediate Appeal of Del Monte Foods Settlement Approval Order

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On April 2, 2026, the U.S. Bankruptcy Court for the District of New Jersey denied a minority lender group’s request to certify a direct appeal to the Third Circuit of its order approving a Del Monte Foods settlement. The...more

Carlton Fields

Fifth Circuit Remands Order Dismissing Claims Brought Under Reinsurance Intermediary Authorization Agreement

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The Fifth Circuit Court of Appeals has affirmed in part and reversed in part an order dismissing plaintiff Porch.com’s breach of contract claims brought under a reinsurance intermediary authorization agreement (RIAA)...more

Carey Olsen

Duties of company directors under Bermuda law

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The directors of a Bermuda company owe certain duties to their company when fulfilling their responsibility to oversee the management of the company. That includes both fiduciary duties which are rooted in honesty and loyalty...more

McDermott Will & Schulte

A life cycle approach to private equity financing: What sponsors and lenders need to know

Private equity sponsors and lenders are navigating an environment in which disciplined deal structuring and downside preparedness are increasingly interconnected....more

Ward and Smith, P.A.

We’re Engaged! Engaged in a Fraudulent Transfer.

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The plan made sense. Under North Carolina law, property held by a married couple as tenants by the entirety is protected from the individual debts of either spouse. As joint tenants before the marriage, Albrecht’s...more

King & Spalding

Bankruptcy Court Permits Fraudulent Transfer Claims to Proceed Where Debtor Mostly Received More Than It Paid Back Under...

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On February 4, 2026, the U.S. Bankruptcy Court for the Southern District of Texas permitted a bankruptcy trustee’s fraudulent transfer claims, arising from allegedly usurious loans, to proceed in an adversary proceeding...more

Proskauer Rose LLP

Hybrid Horizons: Hybrid Capital as a Tool in Out-of-Court Debt Workouts

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For many sponsor-backed and other highly leveraged private companies, the disruption of the pandemic, the current interest rate environment and the tariff regime have each created challenges. As borrowers and lenders consider...more

IR Global

Creditors' Petitions - The Clock Doesn't Stop While You Wait

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Under the Bankruptcy Act 1966 (Cth), the timeframe within which a creditor may present a petition is strict and unforgiving. Section 44(1)(c) requires presentation within six months of the relevant Act of Bankruptcy, and...more

Mayer Brown

District Court Confirms Nonconsensual Third-Party Releases Survive Purdue Pharma in Chapter 15

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On March 31, 2026, US District Court Chief Judge Colm F. Connolly of the District of Delaware affirmed a bankruptcy court order recognizing Crédito Real, S.A.B. de C.V., SOFOM, E.N.R.’s (“Crédito Real”) Mexican concurso...more

White & Case LLP

APAC FRI Pulse - Insights into APAC's Financial Restructuring and Insolvency Developments

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Private Credit on the March – how is the landscape changing? The global economic environment continues to shape restructuring activity across the APAC region and Australia is no exception. Persistent inflationary...more

Benesch

SDNY Bankruptcy Court: Solvent Debtors Face Higher Hurdle To Avoid Default Interest Under 11 U.S.C. § 506(b)

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Following a recent decision from the U.S. Bankruptcy Court for the Southern District of New York, solvent debtors may find it significantly harder to avoid paying contractual default interest to oversecured lenders under...more

Hudson Cook, LLP

The Hudson Cook Usury Monitor - A Publication of Recent Usury and Finance Charge Cases - Winter 2025

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For those interested in all things "Interest" related, we provide a summary of recent state and federal court cases involving usury, finance charges, and interest rates, as they relate to the consumer and commercial credit...more

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