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by Robins Kaplan LLP on

No US? No big deal. At least when it comes to the once-and-future TPP pact, which Japan, Canada, Australia, and 8 other US allies signed yesterday in Santiago, Chile....more

Blog: Safe Harbor Rule Narrowed: Supreme Court Opens Door for Possible Avoidance of Previously Protected Transactions

by Cooley LLP on

Over the last twenty years, courts have increasingly insulated transactions from avoidance as fraudulent transfers by invoking the so-called “settlement payment” defense codified in section 546(e) of the Bankruptcy Code. The...more

U.S. Supreme Court Narrows the Scope of the Section 546(e) Safe Harbor

by Alston & Bird on

Resolving a circuit split, the U.S. Supreme Court’s ruling excludes protection for certain transferees when a settlement payment merely passes through an intermediary. Our Bankruptcy & Financial Restructuring and Finance...more

High Court Faced with the Issue of Marijuana Legalization in Bankruptcy

It was only a matter of time before the budding state laws legalizing marijuana use ran up against the federal government’s treatment of the drug as a controlled substance – and what better place for the two sides to meet...more

Data in the cloud: What if the cloud provider goes bankrupt?

by Thompson Coburn LLP on

With data being the new “coin of the realm,” those who control and exploit data have a winning advantage over competitors. This piece focuses on control of data in the unique situation of a cloud hosting provider’s...more

Delaware Bankruptcy Court Rejects “Implied Assumption” of Executory Contracts As Part of Asset Sale

The Delaware Bankruptcy Court recently held, in Stanley Jacobs Prod., Ltd. v. 9472541 Can. Inc. (In re Thane Int'l, Inc.), No. 17-50476 (KG), 2018 Bankr. LEXIS 464 (Bankr. D. Del. Feb. 21, 2018), that a debtor must file a...more

German coalition government plans insolvency law reform

by DLA Piper on

On 4 March 2018, Angela Merkel secured her fourth term in power after the Social Democratic party (SPD) agreed to form another “grand coalition” government with the conservative Christian Democratic Union (CDU), ending months...more

Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision

by Ropes & Gray LLP on

Credit funds that invest in distressed debt, whether through secondary trading or loan origination, not only must evaluate the borrower’s credit quality and business plan, but, with the help of their lawyers, must also keep...more

High Court Tightens Section 546(e) Safe Harbor for Securities Transaction Payments

by Jones Day on

The U.S. Supreme Court issued a highly anticipated ruling resolving a long-standing circuit split over the scope of the Bankruptcy Code's "safe harbor" provision exempting certain securities transaction payments from...more

Zetta Jet: multi-jurisdictional investigation and asset tracing

by DLA Piper on

DLA Piper is advising Zetta Jet in relation to ongoing proceedings in the United States, Singapore and Australia. This multi-jurisdictional matter centers on the bankruptcy proceedings and subsequent collapse of the luxury...more

California Supreme Court Deals Death Blow to Jewel v. Boxer for Hourly Fee Cases in State

by Holland & Knight LLP on

• The California Supreme Court has decided the fate of the unfinished business rule for hourly fee cases in the state with its long-awaited decision in Heller Ehrman LLP v. Davis Wright Tremaine LLP. The court held that a...more

Appellate Group News: 2017 Year In Review

by Murtha Cullina on

2017 was a significant year for Murtha Cullina’s appellate practice group. The firm was recognized by the Connecticut Law Tribune as its "Appellate Litigation Department of the Year." 2017 also marked two anniversary dates of...more

Not So Safe: The Supreme Court Clarifies the Scope of the Bankruptcy Code’s Section 546(e) Safe Harbor Provision

by Shearman & Sterling LLP on

Section 546(e) of the Bankruptcy Code shields certain transfers involving settlement payments and other payments in connection with securities contracts (for example, payment for stock) made to certain financial...more

Texas Litigation Since the Plunge in Oil Prices

by Winstead PC on

Texas attorneys have discussed a rise in litigation since the decline in oil prices that begun in 2014. However, many of the discussions have centered on anecdotal references to increases in certain types of litigation...more

Supreme Court Clarifies Securities Safe Harbor Under Bankruptcy Code

by Holland & Knight LLP on

• In a unanimous decision, the U.S. Supreme Court ruled against the petitioner in Merit Management Group, LP, Petitioner v. FTI Consulting, Inc., affirming the decision of the U.S. Court of Appeals for the Seventh Circuit. ...more

You want to file a bankruptcy case where?????

by DLA Piper on

For many years in the US, there has been disagreement among lawyers, judges and institutional creditors concerning the ability of parties under current bankruptcy law to cherry pick the court in which to file bankruptcy....more

BHS Company Voluntary Arrangement – Landlords Win on Penalties

by Hogan Lovells on

The English High Court has decided that collapsed retailer British Home Stores cannot challenge its own company voluntary arrangement as an unenforceable contractual penalty and must repay rental discounts to its landlords...more

Supreme Court Lakeridge Decision Clarifies the Standard of Review of Mixed Questions of Law and Fact

In another decision affecting Chapter 11 cases, U.S. Bank National Association v. Village at Lakeridge, --- S. Ct. ---, 2018 WL 1143822 (2018), on March 5, 2018, the United States Supreme Court issued a unanimous decision,...more

Who Is A Non-Statutory Insider? The U.S. Supreme Court Provides (Some) Guidance on the Appropriate Standard of Review for this...

On March 5, 2018 the United State Supreme Court issued its unanimous decision in U.S. Bank NA v. The Village at Lakeridge, LLC, 583 U.S. ___ (2018), answering the narrow question of what is the proper standard of review for...more

The Supreme Court - March 5, 2018

by Dorsey & Whitney LLP on

The Supreme Court of the United States issued two decisions today: U.S. Bank N.A. v. Village at Lakeridge L.L.C., No. 15-1509: Respondent Lakeridge filed for Chapter 11 bankruptcy, and sought approval of a “cramdown” plan...more

Protecting Your Supply Chain in the Face of Potential Auto Industry Challenges in 2018

by Foley & Lardner LLP on

As the economy has improved and unemployment has fallen in the nearly 10 years since the Great Recession, North American vehicle sales volumes have also steadily increased and the forecast remains strong for 2018. Bloomberg...more

“Clearing & Settlement” Exception to Trustee’s Avoiding Powers Saves Only Payments “To” (not “Through”) Market Intermediaries

by Burr & Forman on

Last week, the unanimous Supreme Court clarified that the “clearing and settlement” exception to a bankruptcy trustee’s avoiding powers covers only payments “to,” not merely through, financial market participants....more

Supreme Court Decides U.S. Bank, N.A. v. Village at Lakeridge, LLC

by Faegre Baker Daniels on

On March 5, 2018, the Supreme Court of the United States decided U.S. Bank, N.A. v. Village at Lakeridge, LLC, No 15-1509, holding that a bankruptcy court’s determination of whether a set of facts demonstrated an arms-length...more

Supreme Court Holds That Use of Financial Institutions as Conduits Will Not Insulate a Transaction From Avoidance Actions

by Reed Smith on

On February 27, 2018, the Supreme Court of the United States issued a unanimous decision delivered by Justice Sotomayor holding that a party otherwise subject to an avoidance action under the Bankruptcy Code is not shielded...more

Resolving Circuit Split, US Supreme Court Holds Section 546(e) Safe Harbor Applies Only to Protected Parties

by Dechert LLP on

The Bankruptcy Code allows trustees, as well as debtors-in-possession and in some circumstances creditors’ committees, to set aside and recover certain transfers for the benefit of the bankruptcy estate. The purpose of the...more

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