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Goldberg Segalla

Asbestos Bankruptcy Trusts Announce Intent to Destroy Data and Documents

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Earlier this year, at least four asbestos bankruptcy trusts including WR Grace, Babcock & Wilcox, Pittsburgh Corning and Owens Corning, issued notices regarding their intent to destroy data and documents submitted by...more

Mayer Brown

Congress Moves Forward on Stablecoin Legislation: The US Senate Banking Committee Approves the GENIUS Act

Mayer Brown on

On March 13, 2025, the US Senate Banking Committee passed the Guiding and Establishing National Innovation for US Stablecoins Act of 2025 or “GENIUS Act,” out of committee by a vote of 18-6....more

Ward and Smith, P.A.

Entitled to Stay Relief? Prove it.

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For example, you make a commercial real estate loan and record your deed of trust. The borrower pays you for a time but then defaults.  You tried loan forbearance and modification, but it was unsuccessful. The borrower falls...more

Nossaman LLP

New Court Guidance on Rights to Use Captured Water/Percolating Groundwater

Nossaman LLP on

On March 14, 2025, the Court of Appeal for California’s Fifth Appellate District issued its decision in Sandton Agriculture Investments III v. 4-S Ranch Partners, 2025 S.O.S. 659. That case provided guidance on ownership of...more

Blake, Cassels & Graydon LLP

Constructive Trust Claim Dismissed As Court Backs Reverse Vesting Order

On February 20, 2025, the Alberta Court of Appeal released its decision in Henenghaixin Corp v. Long Run Exploration Ltd, dismissing an application for leave to appeal a decision rendered in the Companies’ Creditors...more

Pillsbury Winthrop Shaw Pittman LLP

U.S. Bankruptcy Court Confirms Nonconsensual Third-Party Releases May Be Recognized Under Chapter 15 of the Bankruptcy Code

A recent Bankruptcy Court decision granted recognition to a Mexican concurso mercantile and gave full force and effect to a Mexican concurso plan that contained nonconsensual third-party releases....more

Seward & Kissel LLP

Opting Out, Out of Options, and Sunnova Flaming Out

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Spirit Airlines recently emerged from Chapter 11 bankruptcy and announced it plans to rebrand itself as a premium airline. S&K Take: The Spirit case was obviously a significant undertaking, and the plan was confirmed by Judge...more

Latham & Watkins LLP

Cross-border Dialogue Between Hong Kong And Mainland China on Insolvency Law

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In January 2025 in Beijing, a delegation of INSOL members led by Andrew Koo (INSOL Fellow) and John Lees (INSOL Past President) together with Hong Kong barrister Michael Lok, Alexander Tang (INSOL Fellow), and Howard Lam...more

Bowditch & Dewey

Broke and Broken Hearted – The Intersection of Bankruptcy and Divorce

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Bankruptcy is the process where someone who is unable to pay their debts files a petition to discharge (eliminate) those debts or restructure the debt with a payment plan. But what happens if a bankruptcy petition is filed by...more

Blake, Cassels & Graydon LLP

Canadian Insolvency: Key Developments and Emerging Trends

Several significant judicial decisions occurred in 2024 that are relevant to commercial lenders and businesses as well as restructuring professionals. This bulletin summarizes the key developments of 2024 and highlights areas...more

Gray Reed

Scribner’s Error: A Cautionary Tale of Oil & Gas Fraud

Gray Reed on

DALF Energy, LLC v. GS Oilfield Services addresses a fiduciary’s deceptive actions in oil and gas transactions. The Fifth Circuit held: self-dealing may constitute a breach of fiduciary duty even when the principal is...more

Pillsbury Winthrop Shaw Pittman LLP

U.S. Bankruptcy Court Agrees to Enforce English Three-Step, with Third-Party Releases, Used by Mexican Auto Financer

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

Wiley Rein LLP

California Federal Court Holds Coverage Barred By Prior Notice Exclusion and Related Claims Provision

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The United States District Court for the Central District of California, applying California law, granted an insurer’s motion for summary judgment, concluding that (1) the policy’s prior notice exclusion applied; and (2) the...more

Akerman LLP

Your Collateral Can Disappear in Chapter 11

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Suppose you have made a loan and your collateral includes a lien on receivables or inventory. If your borrower files Chapter 11, you are in danger of your collateral disappearing during the Chapter 11 case. Here's how....more

Nelson Mullins Riley & Scarborough LLP

Involuntary Bankruptcy: Often Discussed, Infrequently Used

I am commonly asked by clients and other lawyers who are frustrated by typical collection efforts if we can place the would-be debtor into an involuntary bankruptcy.  The short answer is, yes, it is often possible to place a...more

Eversheds Sutherland (US) LLP

In re Urban Commons 2 West LLC (Bankr. SDNY Mar. 4, 2025)

Bankruptcy Court Elects to Follow Majority Interpretation of 11 U.S.C. § 363(f)(5) On March 4, 2025, the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) issued a significant...more

Holland & Knight LLP

American Tire: Rubber Hits the Road in Non-Ratable Chapter 11 Liability Management Transaction

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Minority senior secured lenders in syndicated deals rely on, among other provisions, the "sacred right" protections contained in the credit documents to protect the benefit of their bargained-for agreement: primarily, that...more

BCLP

“Dividing Line” in Public Policy - Insolvency and Arbitration

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A creditor commences winding-up proceedings against a debtor company on the basis that the company is insolvent. The petition debt relates to a dispute within the ambit of the arbitration agreement between the creditor and...more

Seward & Kissel LLP

Pilgrimage to Bankruptcy and Trial Run

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Dolan’s MSG Networks nears bankruptcy as cord-cutting surges | Front Office Sports - MSG Networks, the Dolan-controlled regional sports networks, face imminent bankruptcy because of $804 million in debt that is currently...more

Goodwin

Six Considerations for Directors Navigating Distressed M&A

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Directors’ decisions face intense scrutiny during times of financial distress. A structured approach can protect stakeholder value and minimize liability....more

Warner Norcross + Judd

Key Update on WARN Act: Bankruptcy Court Limits Employer Liability in Mass Layoffs

The Federal Worker Adjustment Retraining Notification (WARN) Act requires employers to give workers 60 days’ written notice of a plant closing or mass termination. In the latest update to an important case interpreting the...more

A&O Shearman

Regulatory monitoring - February 2025

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Work programme and strategic priorities for 2025/26 Status: Final - The BCBS has published its work programme and strategic...more

A&O Shearman

Regulatory monitoring: EU version Newsletter - February 2025

A&O Shearman on

1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Work programme and strategic priorities for 2025/26 Status: Final - The BCBS has published its work programme and strategic...more

Carey Olsen

The interplay between insolvency and arbitration proceedings: an insight into developments across jurisdictions

Carey Olsen on

Arbitration clauses are commonly found in commercial contracts. However, tricky issues arise when a company subsequently seeks an order for winding up, particularly in circumstances where the facts relied on in support of the...more

Robinson+Cole Health Law Diagnosis

Connecticut Establishes Emergency Certificate of Need Process for Hospitals in Bankruptcy

On March 3, 2025, Connecticut Governor Ned Lamont signed a law establishing a new process for hospitals in bankruptcy to apply for an “emergency certificate of need” (CON) to approve a transfer of ownership. The law, titled...more

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