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Amendments to Chapter 12 make it easier for a family farmer to reorganize

by Thompson Coburn LLP on

In a rare bipartisan moment, Congress overwhelmingly passed and the President signed into law on October 25 the Family Farmer Bankruptcy Clarification Act of 2017. This legislation makes it easier for family farmers to...more

House Financial Services Committee Schedules Oct. 11 Mark-Up of "Madden fix" Bill

by Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee was scheduled to mark up Wednesday, October 11, was a bill to provide a "Madden fix" as well as several others relevant to consumer financial services...more

Safe harbour and ipso facto reform in Australia

by DLA Piper on

Long-awaited law reform to bring Australia's insolvency regime into step with many of its trading counterparts is slated to be enacted in the second half of 2017. The text of the law is currently before parliament for debate....more

House Passes Legislation Allowing Financial Institutions to Seek Chapter 11 Protection

by Jones Day on

On April 5 and June 8, 2017, the U.S. House of Representatives passed bills (the Financial Institution Bankruptcy Act of 2017 ("FIBA") and the Financial CHOICE Act of 2017) that would allow financial institutions to seek...more

New Bankruptcy Rules to Take Effect December 1, 2017

After several years of drafting, debate, compromise and fine tuning, it appears that major changes to the administration of consumer bankruptcy cases are imminent. On April 27, 2017, Chief Justice John Roberts submitted to...more

Trump Prevents FSOC Designations and Bank Liquidations

In a Presidential Memorandum, President Trump directed the Secretary of the Treasury, as a member of the Financial Stability Oversight Council, not to cast a nonemergency vote to subject nonbank financial companies to...more

US House of Representatives Judiciary Committee Passes Bankruptcy Reform Bill That Would Amend Title II

by Shearman & Sterling LLP on

The Judiciary Committee of the US House of Representatives marked up and passed HR 1667, the Financial Institution Bankruptcy Act of 2017...more

Banking & Financial Services E-Note - February 2017

by Burr & Forman on

The White House clarified that Trump’s January 30 “two for one” Executive Order doesn’t apply to the SEC and other independent regulatory agencies, Reuters reported. Despite press coverage, the Order doesn’t actually require...more

What 2017 May Bring for the Restructuring Community

We asked some of our financial advisor colleagues to give us brief read outs on what they felt 2017 has in store for us now that we have gotten beyond the inauguration and into the first weeks of the Trump administration. ...more

The Australian federal government to review security of payment legislation

by Dentons on

The Australian federal Minister for Employment, the Hon. Michaelia Cash, has announced a review into security of payment legislation in the building and construction industry. Mr John Murray AM has been appointed to conduct...more

Banking & Financial Services E-Note - December 2016

by Burr & Forman on

Last month, the IRS issued final regulations repealing its rule requiring that a Form 1099-C be filed whenever a financial institution (or certain other limited taxpayers) fails to receive payment on a debt for 36 consecutive...more

What Might a Trump Administration Mean for Bankruptcy Lawyers?

Inauguration is still about 2 months away, but it is not too early to begin thinking about what the Trump Administration will mean for commercial lawyers in general and bankruptcy lawyers in particular....more

Renewable Energy Update - August 2016 #2

by Allen Matkins on

Renewable Energy Focus - California's regional electricity grid plan on hold - Los Angeles Times - Aug 8 - Governor Jerry Brown’s plan for a regional electricity grid is being put on hold this year, and...more

The Impact of PROMESA on Creditors

On June 30, 2016, the United States Senate passed the “Puerto Rico Oversight, Management and Economic Stability Act” (“PROMESA”) and it was quickly signed into law by President Obama. PROMESA enables the Commonwealth of...more

Australian insolvency law reforms aim to increase business restructuring opportunities

by DLA Piper on

The Australian government is working to significantly reform Australia’s current insolvency laws by mid-2017. The reforms are intended to achieve greater likelihood of business preservation by introducing the flexibility...more

Court Holds Drafting Contracts Violates Sarbanes-Oxley

Section 802 of the Sarbanes-Oxley Act added the following provision to 18 U.S.C. § 1519: “Sec. 1519. Destruction, alteration, or falsification of records in Federal investigations and bankruptcy - Whoever knowingly...more

You Can Lead a Horse to Water, But You Can’t Call it an Airplane: Supreme Court Oral Arguments Suggest Puerto Rico’s Recovery Act...

A few thoughts on Tuesday’s oral arguments before the U.S. Supreme Court in the litigation over whether Puerto Rico’s Public Corporations Debt Enforcement and Recovery Act, an insolvency statute for certain of its government...more

New Year, New Fraudulent Transfer Law

It’s a new year, and we have a new law affecting debtors and creditors in California. Effective January 1, 2016, California’s Uniform Voidable Transactions Act (UVTA) has replaced California’s Uniform Fraudulent Transfer Act...more

Changes in California’s Fraudulent Transfer Law

by Ervin Cohen & Jessup LLP on

QUESTION: I heard California’s fraudulent transfer law is being changed. How will the changes affect my ability to pursue fraudulent transfers as a receiver? ANSWER: Earlier this year the California legislature, based on...more

Glenn Siegel on Why Chapter 11 Bankruptcy Is So Expensive

by Mimesis Law on

Glenn Siegel, head of the firm’s restructuring and bankruptcy practice, talks about some of the reasons chapter 11 bankruptcy is often seen as an expensive or problematic alternative for companies needing to restructure their...more

Changes to the insolvency regime

by Reed Smith on

We published a blog update in May informing readers of the staggered implementation of the Small Business, Enterprise and Employment Act 2015 (the “SBEEA”). The SBEEA received Royal Assent on 26 March 2015 and a previous...more

Greek Financial Crisis – What Next?

by Allen & Overy LLP on

Greece is facing a severe liquidity crunch with a rapid deterioration in the Government's cash position. This is evidenced by the Greek Government's recent request for wider public sector entities and local authorities to...more

Amendment to the PA Power of Attorney Statute

by Tucker Arensberg, P.C. on

On March 2, 2015, the Pennsylvania House of Representatives referred to the House Judiciary Committee HB665, introduced by Representative M. K. Keller, which contains the proposed “fix” to the Power of Attorney statute which...more

Proposed Bankruptcy Fairness and Employee Benefits Protection Act of 2014 would place significant restrictions on employers in...

by Thompson Coburn LLP on

Legislation recently introduced in the Senate would place many restrictions on the ability of a corporation navigating bankruptcy to change the compensation and benefits of employees and retirees. The bill would also create a...more

Why colleges in bankruptcy should have access to federal financial aid

by Thompson Coburn LLP on

With the reauthorization of the Higher Education Act (HEA) in full swing, the time is ripe for Congress to reconsider current laws prohibiting postsecondary institutions that declare bankruptcy from participating in the...more

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