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Blake, Cassels & Graydon LLP

The CCAA’s Reach Expands: Equity Investors, Foreign Companies and Solvent Companies

Can equity investors commence proceedings under the Companies’ Creditors Arrangement Act (CCAA)? Can CCAA relief extend to foreign companies with no business or assets in Canada? Can CCAA relief be granted against entities...more

Blank Rome LLP

Two-Step Aside: U.S. Bankruptcy Court Lets Canadian Reverse Vesting Order Waltz Through Chapter 15

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Introduction - Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York (“Court”) issued an opinion on May 12, 2026, recognizing and enforcing a Canadian reverse vesting order...more

Arnall Golden Gregory LLP

AGG Talks: Development | Episode 3: Navigating Tenant Bankruptcy: Key Strategies for Commercial Landlords in Retail Real Estate

In this episode, AGG Real Estate Litigation co-chair Knox Withers is joined by Bankruptcy, Creditors’ Rights, & Financial Restructuring partner Sean Kulka to discuss how tenant bankruptcy can disrupt commercial properties and...more

Akerman LLP

Can a Secured Lender Collect Default Interest in Bankruptcy? . . . Maybe

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A bankruptcy court in the Southern District of New York clarified the factors considered in determining whether an oversecured creditor can recover default interest under a loan agreement. In a recent decision (In re Mako 33,...more

Dickinson Wright

3 Chapter 15 Rulings in 4 Days Reinforce the Integrity of U.S. Chapter 15 Administration

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In our March Alert, 3 Strikes Against Chapter 15: What the Texas Geden and Siu-Fung Decisions Mean for Recognition Strategy, we discussed two important decisions by Judge Alfredo Pérez of the U.S. Bankruptcy Court for the...more

Katten Muchin Rosenman LLP

Weighing Bankruptcy and Alternative Solutions for Distressed Situations: A Conversation With Harold Israel and Jack O’Connor

In the latest episode of the TMA Chicago/Midwest Podcast, I sat down with Harold Israel and Jack O'Connor, partners in the Financial Services and Restructuring group at Levenfield-Pearlstein, LLC. Together, we discuss the...more

Arnall Golden Gregory LLP

Restructuring Roundup - April 2026

Industry News - JetBlue CEO Rules Out Bankruptcy This Year Despite Surging Fuel Costs Amid Iran War - JetBlue Airways CEO Joanna Geraghty told employees the carrier was not considering bankruptcy for this year, according to a...more

Baker Donelson

Chapter 11 is Not a Spectator Sport

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A recent decision from the U.S. Bankruptcy Court for the District of South Carolina, found here, delivers a clear and practical warning for lenders, special assets teams, and other creditors: if you want a Chapter 11 plan...more

McGinnis Lochridge

Your Operator Just Filed Chapter 11: A Non-Operator's Practical Guide

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A call from your land manager: the operator on a producing JOA filed Chapter 11 overnight. Wells are still flowing. A revenue check was supposed to land next week. The JOA gives you the right to remove a defaulting operator....more

Farrell Fritz, P.C.

From the Sagamore: Key Takeaways from the NYSBA 2026 Commercial and Federal Litigation Section Spring Meeting

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Earlier this month, commercial litigators and judges from across New York headed to the Sagamore Resort on Lake George for the NYSBA Commercial and Federal Litigation Section’s 2026 Spring Meeting. The Spring Meeting featured...more

Herbert Smith Freehills Kramer

US Supreme Court asked to review Bestwall’s Texas Two-Step

The so-called Texas Two‑Step is a restructuring strategy that uses Texas state divisional‑merger law to separate a company’s operating business from certain legacy liabilities, often those involving mass tort claims. The core...more

King & Spalding

Idaho Bankruptcy Court Holds that New York’s Usury Statute May Not Be Used Offensively

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On January 21, 2026, the U.S. Bankruptcy Court for the District of Idaho partially granted and partially denied a motion to dismiss in an adversary proceeding involving a “Revenue Purchase Agreement” between debtor HMH...more

Blank Rome LLP

Blazing New Ground: Cannabis Holding Company Obtains Chapter 15 Recognition

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The cannabis industry has been undergoing a significant wave of defaults and receivership proceedings in recent years. Faced with price compression and increased competition including from the illicit market, limited access...more

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

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