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A closer look at round six of the NAFTA negotiations

by Dentons on

Round six of the NAFTA negotiations concluded in Montreal on January 29, 2018. Trade ministers from Canada, the United States and Mexico rejoined the talks this round with the aim of creating movement on contentious chapters....more

The First Circuit Casts a Shadow on Sunbeam

In the recently decided case, Mission Product Holdings, Inc. v. Tempnology, LLC, the United States Court of Appeals for the First Circuit took a hardline position that trademark license rights are not protected in bankruptcy....more

The Rule In Gibbs: Safeguarding Creditors’ Rights Or Aiding And Abetting "Hold Out" In Foreign Insolvencies?

There is an English common law rule that a debt governed by English law cannot be discharged or compromised by a foreign insolvency proceeding. This rule is derived from a Court of Appeal case: Antony Gibbs and sons v La...more

Supplier Strategies for the Financially Distressed Buyer

by Shipman & Goodwin LLP on

While the stock market continually reached new highs last year, the pace of retail bankruptcies did not abate. In just the last year, Toys R Us, Gymboree, Radioshack, Payless ShoeSource, BCBG Max Azria, Eastern Outfitters,...more

The Importance of Signatures: General Motors’ Unsigned But Fully Negotiated Deal Not Enforceable

by Hogan Lovells on

U.S. Bankruptcy Judge Martin Glenn recently decided that a fully-negotiated agreement would not be enforced in the absence of required signatures. The agreement contemplated a settlement between the General Motors bankruptcy...more

Landfill Gas Collection System: Federal Appellate Court Addresses Competing Claims for Possession

The Seventh Circuit Court of Appeals addressed the priority of claims between the City of Peoria, Illinois, and Banco Panamericano, a secured creditor, regarding gas-to-energy conversion infrastructure left behind from a...more

Fraudulent Transfer Avoidance Recovery Not Limited to Total Amount of Creditor Claims

by Jones Day on

Courts disagree as to whether the amount that a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") can recover in fraudulent transfer avoidance litigation should be capped at the total amount of unsecured claims...more

Eighth Circuit rejects foreseeability test for notice to unknown creditors

In Dahlin v. Lyondell Chemical Co., 2018 U.S. App. LEXIS 1956 (8th Cir. Jan. 26, 2018), the Eighth Circuit Court of Appeals rejected an argument that bankruptcy debtors were required by due process to provide more prominent...more

In Case You Missed It – PACA Trust Rights in Bankruptcy are Just Plain Old Secured Claims

by Bryan Cave on

Happy 2018! We at The Bankruptcy Cave have been itching to write about the Cherry Growers Chapter 11 case – which really is ground-breaking – but the holidays, life, and yes, work for clients too, all just got in the way. ...more

Recent Bankruptcy Decision Raises Questions for Trademark Licensees

by Dickinson Wright on

If you are a licensee under a trademark license, what happens to your license if the licensor winds up in the Bankruptcy Court? A recent United States Circuit Court case demonstrates how uncertain the answer is at this time....more

Saudi Arabia Update - January 2018

by Dentons on

Legal developments - Draft Bankruptcy Law approved - Saudi Arabia’s bankruptcy and insolvency law regime has been governed by two regulations, the earliest dating back to 1930. These regulations have historically caused...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Russian transportation and logistics conglomerate FESCO PLC...

by Dechert LLP on

This case reiterates the opportunity that an English scheme provides to companies in emerging market jurisdictions seeking to restructure their English law debt obligations with international lenders. Mr Justice Snowden’s...more

CVAs: A 2018 Revival

by White & Case LLP on

With miserable Christmas trading figures exacerbating an already challenging climate for UK retailers, a growing number of companies are turning to company voluntary arrangements ("CVAs") as a possible source of respite. Most...more

Restructuring & Insolvency Newsletter - January 2018

by Reed Smith on

Welcome to the January 2018 issue of the R&I Alert, the newsletter produced by Reed Smith's Restructuring & Insolvency Group. ...more

Limiting Ponzi Scheme Recoveries in Bankruptcy: United States Supreme Court Declines to Review Fraudulent Transfer Ruling in Favor...

by Ward and Smith, P.A. on

The United States Supreme Court recently declined to review a decision from the United States Court of Appeals for the Fourth Circuit favorable to a bank regarding alleged fraudulent transfers to the bank. In doing so, the...more

State of the Financial Restructuring Market

Continuing low interest rates and generally improved economic conditions in the U.S. and worldwide during 2017 have reduced financial distress and the need for business bankruptcies in most sectors. However, out-of-court...more

5 Business Cases to Watch in the Supreme Court’s Winter Session

by Bennett Jones LLP on

With the beginning of the Supreme Court of Canada’s Winter Session on January 8, the Supreme Court of Canada entered a new era following the retirement of former Chief Justice Beverly McLachlin and the appointment of Chief...more

Trademark Licenses . . . Again

A long-running issue concerning the treatment of trademark licenses in bankruptcy has seen a new milestone with the January 12 decision of the First Circuit in Mission Product Holdings, Inc. v. Tempnology, LLC. The issue was...more

Thoughts From the BAP on How to (re)Define an “Executory Contract”

Making a quiet entrance into the public realm during the final week of last year, a new opinion from the United States Bankruptcy Appellate Panel of the Ninth Circuit (the “BAP”) suggests that it is time to revisit the...more

Financial Litigation Roundup: Key Federal Rulings in 2017

In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts. While there were no decisions of overwhelming...more

Nevada District Court Holds that a Creditor Must Have a Fully Undisputed Claim to Petition for an Involuntary Bankruptcy

The Nevada District Court recently held, in Mont. Dept. of Revenue v. Blixseth, No. 13-cv-01324-JAD, 2017 WL 6417632 (D. Nev. 15, 2017), that a creditor must have a fully undisputed claim to be a “qualified creditor” that may...more

Bankruptcy Courts Just Say No to the Marijuana Industry

Despite growing public acceptance of marijuana and the wide-spread passage of state laws legalizing marijuana for medicinal and even recreational purposes, marijuana remains a criminal offense under federal law which presents...more

Client Alert: Managing Credit Risk in the Supply Chain

Companies expend substantial resources managing the credit risk of customers, to protect the value of their sales. Many companies, however, do not always apply credit risk analysis to its supply chain, focusing instead on...more

The Devil's Dictionary of Bankruptcy Terms: Leveraged Buy-Out (LBOs)

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

Extremely Clear Pay-If-Paid Clause is Enforced

by Murtha Cullina on

Every contract involves the risk of insolvency, and every construction subcontract involves the risk of the owner/developer failing to make the payments that the contractor intends to use to pay its subcontractors....more

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