Chapter 11, Bankruptcy Code, New York

Uptiers in 2025: Impact of the Serta and Mitel Decisions on Liability Management Exercises

Jones Day on 3/27/2025

Late last year, the U.S. Court of Appeals for the Fifth Circuit and the Appellate Division of the Supreme Court of the State of New York issued important rulings regarding the validity of uptier “liability management...more

SDNY Amends Local Bankruptcy Rules To Streamline Chapter 11 Processes

Skadden, Arps, Slate, Meagher & Flom LLP on 11/26/2024

The U.S. Bankruptcy Court for the Southern District of New York (SDNY) has issued a general order amending its Local Bankruptcy Rules. The amendments introduce a broad set of changes that will impact all types of bankruptcy...more

New York Bankruptcy Court: Lockup Provision in Proposed Settlement Agreement Violated Bankruptcy Code's Disclosure and...

Jones Day on 8/2/2024

A bedrock principle underlying chapter 11 of the Bankruptcy Code is that creditors, shareholders, and other stakeholders should be provided with adequate information to make an informed decision to either accept or reject a...more

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Pillsbury Winthrop Shaw Pittman LLP on 7/31/2024

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

New York Bankruptcy Court: Setoff and Unjust Enrichment Cannot Be Asserted as Affirmative Defenses in Bankruptcy Avoidance...

Jones Day on 2/5/2024

In a 2021 ruling, the U.S. Court of Appeals for the Second Circuit revived nearly 100 lawsuits seeking to recover fraudulent transfers made as part of the Madoff Ponzi scheme. In one of the latest chapters in that resurrected...more

New York Bankruptcy Court: Foreign Representative in Chapter 15 Case Need Not Be Appointed by Foreign Court

Jones Day on 12/12/2023

In most cases seeking recognition of a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code, the foreign debtor's "foreign representative" has been appointed by the foreign court or...more