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Bankruptcy Updates

Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Litigation Funders’ Collateral Did Not Include Malpractice Claims

When the fallout from failed intellectual-property litigation collides with bankruptcy, the complexities may be dizzying enough, but when the emerging practices and imperatives of litigation financing are imposed on those...more

Approval for Super Priority Rescue Financing - What does an applicant need to show a Singapore court? - A case study of Re:...

by Dentons on

For the first time, the Singapore High Court has ruled on whether to grant ‘super priority’ for debts arising from rescue financing under the amended insolvency laws via the Companies (Amendment) Act 2017 (the Act). ‘Super...more

Cross-Border Clash for the Brazilian Dutch Telco in the U.S. Courts

by Morrison & Foerster LLP on

Distressed and special situations investors should take note of the U.S. Bankruptcy Court’s recent decision in Oi’s Chapter 15 case. We present our takeaways for investors. The U.S. Bankruptcy Court refused to recognise...more

English recognition for Agrokor insolvency: not a tick-box exercise

by Hogan Lovells on

On 9 November 2017, in a rare example of a contested recognition hearing, His Honour Judge Paul Matthews granted recognition of Agrokor’s extraordinary administration (EA) as a foreign main proceeding under the Cross-Border...more

Lyondell Trial Teaches Lender Lessons

by Baker Donelson on

Multiple draw and revolving loan lenders and counsel can find three important lessons in the 84 page trial ruling after eight years of litigation, three federal judges, and more than five interesting opinions. See Weisfelner,...more

The Enforceability of Ipso Facto Provisions in a Dismissed Chapter 11 Case

by Dechert LLP on

Section 365 of the U.S. Bankruptcy Code does not address the legal status of an executory contract that is not assumed or rejected in a chapter 11 proceeding. In such cases where a chapter 11 plan is confirmed, courts adopt...more

Recent Developments in Canadian Insolvency Case Law: What Lenders Need to Know

In 2017, a number of insolvency cases were litigated, in various provinces across Canada, which may materially affect the realization and recovery rights of commercial lenders in restructuring and insolvency proceedings. This...more

Tidewater Inc. Settles Its Remaining Charter Agreement Rejection Damage Claim After Judge Shannon Found Stipulated Loss Value...

by Cole Schotz on

On November 28, 2017, Tidewater Inc. and its affiliated debtors (collectively, the “Tidewater Debtors”) withdrew their motion objecting to final allowance of rejection damage claims of Fifth Third Equipment Finance Company...more

International News: Brexit & the US Administration

by McDermott Will & Emery on

Cross Border M&A: The Impact of Brexit, the Trump Administration, and China’s Crackdown on Capital Flight The combination of Brexit, the Trump Administration, and China’s tightening grasp on capital, appear to have created...more

Energy & Sustainability Connections Newsletter - November 2017

by Mintz Levin on

A Note from the Editors - This month’s edition of Energy & Sustainability Connections brings the latest developments in energy investing, legal insights, company activity, and industry events straight to your inbox....more

Re: Attilan Group Ltd – A Cautious Beginning for Rescue Financing in Singapore

by White & Case LLP on

On 8 November 2017, the High Court released its decision in Re Attilan Group Ltd [2017] SGHC 283 (the "Attilan" case). The decision is interesting as it marks the first time the High Court had the opportunity to hear...more

Banking & Financial Services E-Note - November 2017

by Burr & Forman on

Two Burr attorneys recently led panel discussions at the Annual Conference of the Conference on Consumer Finance Law at its recent event in Ft. Worth, TX, on November 2-3. Nashville Partner Zach Miller led the panel...more

Bankruptcy Rule Amendments Now in Effect

by Barley Snyder on

Bankruptcy professionals, be ready. There are now some major changes in the bankruptcy filing process, and noncompliance could cause you to lose in court....more

Fifth Circuit Affirms Dismissal of Claims Relating to Pre-Petition Payments to D&O’s

The Fifth Circuit, in In the Matter of: ATP Oil & Gas Corp. (Tow v. Bulmahn, et. al.), dismissed breach of fiduciary duty claims and fraudulent transfer claims brought by a chapter 7 trustee relating to cash bonuses and...more

Creditors Beware: Inbound Bankruptcy Rule Changes Require Heightened Awareness

On December 1, 2017, several important changes to the Federal Rules of Bankruptcy Procedure will be implemented. Those changes will impact creditors who have secured claims, judgment liens, and unsecured claims against...more

Maritime and offshore restructuring in Singapore: A safe harbour?

by White & Case LLP on

The new laws have made Singapore more attractive for companies looking to restructure, but will it become the jurisdiction of choice for Asian debt restructurings? The maritime and offshore (M&O) sector has endured almost...more

Forum Selection Clause in an Unsigned Pre-Petition Engagement Letter is Binding on Chapter 11 Trustee.

Every lawyer knows that it is important to enter into a signed engagement letter with a client before commencing legal representation. But, as one law firm recently discovered, even an unsigned engagement letter is better...more

The Devil's Dictionary of Bankruptcy Terms: Receiver

by Polsinelli on

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

Virginia Is For Lovers … And Chapter 11?

by Cole Schotz on

It’s no secret that Delaware, New York (Southern District), and Texas (at least since the oil and gas crisis) have become known as the “hotspots” for filing large chapter 11 bankruptcy cases. Whether due to desirable...more

Silence is Not Consent: SunEdison Court Rejects Third Party Releases by Passive Consent

by K&L Gates LLP on

In today’s chapter 11 practice, third party releases are ubiquitous. A staple of the largest and most complex cases for years, plan provisions releasing and enjoining claims against non-debtors, particularly officers and...more

When Worlds Collide: Article 2 of the Uniform Commercial Code and Chapter 11

Picture the scene: A vendor has just received word that its customer has filed chapter 11. The vendor put the customer on a cash-before-delivery basis and demanded assurances of performance. The vendor was successful in...more

Amendments to the Federal Rules of Bankruptcy Procedure Effective on December 1, 2017

by Reed Smith on

Amendments to the Federal Rules of Bankruptcy Procedure become effective December 1, 2017. We highlight those amendments below, separating the discussion into amendments that impact both business and consumer bankruptcy...more

The Bankruptcy And Construction Junction: Making Your Texas Mechanic’s Lien Function Better In Bankruptcy

by Cole Schotz on

In order to secure a real property owner’s payment obligation, contractors, mechanics, materialmen, and other workmen are often granted a lien referred to by a variety of names including, materialmen’s liens, workmen’s liens,...more

Can a Receiver Keep Fees If the Underlying Judgement is Reversed on Appeal?

by Ervin Cohen & Jessup LLP on

Question: I have been appointed receiver to collect a judgment. The judgment is on appeal. I am concerned that if the judgment is reversed my fees might be in jeopardy. Am I entitled to keep the fees I have been paid even if...more

Changes to Bankruptcy Rules Effective December 1

by Stoel Rives LLP on

I. BANKRUPTCY CLAIMS DEADLINE SHORTENED - A number of amendments to the Federal Rules of Bankruptcy Procedure go into effect on December 1, 2017. One amendment shortens the deadline for filing a proof of claim in voluntary...more

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