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EU Finalizes Changes to Ranking of Unsecured Debt Instruments in Insolvency Hierarchy

by Shearman & Sterling LLP on

An EU Directive amending the Bank Recovery and Resolution Directive has been published in the Official Journal of the European Union. The amending Directive amends the ranking of unsecured debt instruments in the insolvency...more

Opportunities for Venture Capital Investments in Singapore in 2018

by Dentons on

Heading into 2018, we look back on several key developments in the legal landscape in the past year that we expect will provide new opportunities for venture capital funds in Singapore. We also share our thoughts on promising...more

Goodbye Delaware and New York? Senate Bill Introduced That Could Significantly Impact Venue of Bankruptcy Cases

by Miles & Stockbridge P.C. on

On January 8, 2018, Senators John Cornyn (R., Texas) and Elizabeth Warren (D., Massachusetts) introduced a bill that, if passed, would require companies to file for relief under the bankruptcy code in a court near its...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

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

Unfinished Business the continuing impact of Jewel v Boxer

by Dentons on

Like any other business, law firms sometimes fail. While the failures of large law firms are well-publicized, smaller law firms can be just as or even more susceptible to failure, as the unexpected departure of the firm’s...more

Who Should Sign a Proof of Claim Form – Lawyer or Client?

by Ervin Cohen & Jessup LLP on

I represent a creditor who had sued an entity before it was put into receivership. The court has established a claims procedure, and the receiver has sent out claim forms. ...more

Maximizing returns from a UK liquidation

by DLA Piper on

When a company enters into an insolvency process in the UK, the position of unsecured creditors is typically one of uncertainty. Ranking fifth1 in the insolvency payment waterfall, unsecured creditors frequently find...more

A Special Purpose CDO, an Involuntary Filing and a Single Lien Structure — Can an Investor “Create” an Unsecured Claim?

by Dechert LLP on

The U.S. Bankruptcy Court for the Southern District of New York recently addressed whether secured noteholders against a CDO can waive their entitlement to a portion of the collateral securing all notes issued under an...more

Australia: phoenixing reform rising beyond the safe harbour

by DLA Piper on

Australian insolvency law reform is gaining momentum. In September 2017, we saw the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 receive royal assent, introducing a new safe harbour for directors who...more

Dutch Government's proposals for a new form of binding, pre-insolvency composition - the "Dutch Scheme"

by DLA Piper on

In September a draft bill was published for public consultation, pursuant to which a district court may be asked to confirm a restructuring plan between a company and its creditors and shareholders concerning the rescheduling...more

“Takata: The Unfortunate Recall” featured in the ACC Charlotte Chapter’s December Newsletter

David Conaway’s article, “Takata: The Unfortunate Recall”, was featured in the Association of Corporate Counsel Charlotte Chapter’s December 7, 2017 Newsletter. In the article, David discusses Takata’s airbag recall and the...more

SEC Claims Promoters Conducted Repeated, Fraudulent Offerings

by Dorsey & Whitney LLP on

A key focus of SEC Enforcement, according to the Commission’s recent publication about the Division, is retail investors. While the agency has always sought to protect the individual investor and has an investor advocate, a...more

Second Circuit Clarifies Interest Rate Applicable in Chapter 11 "Cramdowns"

by Katten Muchin Rosenman LLP on

On October 20, 2017, in In re MPM Silicones, LLC ("Momentive"), Nos. 15-1682, 15-1771, 15-1824, the Second Circuit Court of Appeals, considering the Supreme Court's opinion in Till v. SCS Credit Corp., 541 U.S. 465 (2004),...more

Litigation Issues Arising from M&A Transactions - Litigating Bankruptcy and Fraudulent Conveyance Issues in M&A Deals: Are the...

by Bryan Cave on

San Francisco Partner Meryl Macklin and Los Angeles Partner Sharon Weiss and Counsel Rosario Vizzie hosted a webinar Dec. 7 on the litigation bankruptcy and fraudulent conveyance issues in M&A deals. Please see full...more

Revoking S Corp. Status: A Fraudulent Conveyance?

by Farrell Fritz, P.C. on

Worlds Collide? I like to tell my partners that there are Codes (upper case “C”), and there are codes (lower case “c”). The former include the Ten Commandments, the Code of Hammurabi, the Code of Justinian, and the...more

Breaking New Ground in U.S. Cross-Border Insolvency Law

by Blank Rome LLP on

Russian Insolvency Proceedings Recognized under Chapter 15 of the United States Bankruptcy Code - Blank Rome LLP’s bankruptcy team has the distinction of representing foreign representatives of Russian debtors in two...more

4 Top Takeaways: Recent Trends Involving Intellectual Property in Bankruptcy

Kilpatrick Townsend partner David Posner spoke at a recent New York State Bar Association event where he and other panelists discussed the topic “Around the Edges of IP: Complexities of IP in Bankruptcy.” Mr. Posner...more

SDNY Bankruptcy Court Rejects Non-Consensual Third-Party Releases

Third-party releases attract significant attention and debate in Chapter 11 cases. A Southern District of New York bankruptcy court recently weighed in on this hot topic and issued a decision in In re SunEdison, Inc., et al.,...more

Bankruptcy Law Update: Preferences and Selected Bankruptcy Issues

Preference Claims: Elements: A preference is a transfer of property of a bankruptcy debtor that (1) was to or for the benefit of a creditor; (2) was on account of an antecedent debt; (3) was made while the debtor was...more

New Bankruptcy Rules that Creditors Need to Know and Follow

by Ward and Smith, P.A. on

On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment liens...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

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

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