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Commercial Bankruptcy Reorganizations

Jones Day

The Year in Bankruptcy: 2025

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Of all the possible words to describe the economic and financial developments in the United States (and abroad) during 2025, "tumultuous" is probably the most apt. Global financial highlights included: trade disruptions...more

Seward & Kissel LLP

Avenger Endgame and Bauer Outage

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Florida-Based Aviation Group Files for Chapter 11 Bankruptcy | WhatNow - Less than a year after selling a majority stake in its Warsaw-based pilot training center, Avenger Flight Group filed for bankruptcy along with 20...more

A&O Shearman

U.S. restructuring 2025 review and 2026 outlook

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U.S. bankruptcies and restructurings are expected to remain broadly steady in 2026, providing ample opportunity for restructuring and special situations investment. In the meantime, the U.S. market is assessing the...more

Latham & Watkins LLP

Insolvency Disputes: Spain as a Bellwether for European Restructuring Litigation

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Over the past three years, Spain has operated as a real-time test market for the EU’s shift towards court-backed, pre-insolvency restructuring. Economic uncertainty, higher interest rates, and sectoral distress have...more

Robinson & Cole LLP

2025 Chambers Insolvency Global Practice Guide Chapters: Law and Practice – USA

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An overview of the U.S. insolvency framework, addressing core principles, creditor rights, restructurings, and cross-border issues....more

Robinson & Cole LLP

2025 Chambers Insolvency Global Practice Guide Chapters: USA – Delaware Trends and Developments

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An analysis of recent Delaware bankruptcy developments, including third-party releases and emerging trends following the Supreme Court’s Purdue decision....more

Davidoff Hutcher & Citron LLP

Workout, Wind-Down, or Chapter 11: Choosing the Right Restructuring Path for New York Restaurants

When your restaurant is struggling, it’s natural to ask: “Do I really need to file bankruptcy?” The honest answer is – not always, but it’s often times either the best (and only) option....more

Dickinson Wright

Colorado Bankruptcy Court Pushes Back on Chapter 11 Filings by Solvent Debtors

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While Chapter 11 does not require debtor insolvency, it does require good faith (applicable to the petition and the plan), which for solvent debtors seeking to reject and modify lease-counterparty rights, includes...more

Ropes & Gray LLP

2025 London Capital Solutions and Business Restructuring Year in Review

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Private credit has become a defining force in European capital structures, accelerating out-of-court outcomes, introducing more bespoke documentation and shifting negotiation leverage in restructurings....more

Lowenstein Sandler LLP

Azul Provides Some Color on Opt-Out Releases and Indenture Trustee Fees in the Southern District of New York

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Since the 2024 ruling in Harrington v. Purdue Pharma (Purdue), where the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual third-party releases, courts around the country have grappled with whether...more

Mintz - Bankruptcy & Restructuring Viewpoints

2025 Bankruptcy Roundup: Rising Filings and Evolving Dynamics

Bankruptcy activity across the United States increased noticeably in 2025, marking one of the sharpest rises in more than a decade and reflecting mounting financial pressure on businesses and individuals alike. While the...more

Ropes & Gray LLP

Distressed Debt Legal Insights - STG Logistics' LMT Litigation

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Welcome to Distressed Debt Legal Insights, Ropes & Gray’s source of timely insights for professionals navigating the complex world of liability management and special situations finance. In this issue we discuss the first...more

Benesch

The Cloud Over Third-Party Releases in the Southern District of New York

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Third-party releases are a common and important component of plans of reorganizations. Key bankruptcy case constituencies have historically relied upon third-party releases as a way to mitigate the risk of post-bankruptcy...more

Seward & Kissel LLP

The What’s News Top Ten of 2025

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In 2025, we offered our takes on the most newsworthy stories in bankruptcy law. Here are the ten posts that got the most attention from our readers. ...more

Patterson Belknap Webb & Tyler LLP

Federal District Court Ruling Upholds Uptier Transactions

Federal District Judge Randy Crane recently issued a written decision in Wesco Aircraft Holdings, Inc. v. SSD Invs. Ltd., validating Wesco’s 2022 uptier exchange transactions and reversing a ruling by Bankruptcy Judge Marvin...more

Ropes & Gray LLP

Distressed Debt Legal Insights - TPI Composites’ Uptier Litigation

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Welcome back to Distressed Debt Legal Insights, Ropes & Gray’s new source of timely insights for professionals navigating the complex world of liability management. In this issue, we spotlight the unfolding litigation between...more

Jones Day

Business Restructuring Review Vol. 24 No. 6 | November–December 2025

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New York Bankruptcy Court Rejects Challenge to Barnet Rule Permitting Foreign Debtors to Obtain Chapter 15 Recognition With Only Minimal U.S. Assets - Court disagree over whether, to be eligible for relief under chapter 15...more

Hogan Lovells

SDNY Reverses Confirmation Order and Strikes Opt-Out Third-Party Releases in Gol Linhas Aéreas Bankruptcy Case

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On December 1, 2025, Judge Denise Cote of the U.S. District Court for the Southern District of New York reversed confirmation of Brazilian airline Gol Linhas Aéreas Inteligentes S.A.’s chapter 11 plan, striking the plan’s...more

Jones Day

Third Circuit: Plan and Confirmation Order in Closed Chapter 11 Case Barred Environmental Claims Against Former Affiliate of...

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Section 350(b) of the Bankruptcy Code permits a bankruptcy court under certain circumstances to reopen a bankruptcy case even after the estate has been fully administered and the case is closed. In In re Congoleum Corp., 149...more

Jones Day

New York Bankruptcy Court Rejects Challenge to Barnet Rule Permitting Foreign Debtors to Obtain Chapter 15 Recognition With Only...

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As chapter 15 of the Bankruptcy Code reaches its 20th anniversary, the volume of chapter 15 cases has increased significantly, and chapter 15 jurisprudence has rapidly matured. Even so, certain important issues are still...more

Davidoff Hutcher & Citron LLP

Subchapter V for Restaurants: A Streamlined Chapter 11 Option for New York Owners

Traditional Chapter 11 can feel out of reach for many independent and small‑group New York restaurants: it’s complex, time‑consuming, and expensive. Subchapter V, a relatively new part of Chapter 11, was designed to give...more

Davidoff Hutcher & Citron LLP

90 Days Before Filing: A Pre-Bankruptcy Planning Checklist for New York Restaurant Owners

Most restaurant bankruptcies are won or lost before the case is ever filed. The 90 days leading up to a filing are critical for New York restaurant owners: the moves you make (or don’t make) can affect everything from your...more

Seward & Kissel LLP

Bearish Sentiment, Diamond Hands, and Making an Appointment

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Nicklaus Companies files for bankruptcy after losing in court to Jack Nicklaus | Golf Digest - The Chapter 11 filing comes after the golf legend won a $50 million defamation lawsuit against his namesake former company....more

Ward and Smith, P.A.

Portrait of a Bad Faith Bankruptcy

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Bankruptcy courts tend to bend over backwards to avoid smothering a case in the crib. A recent decision from the U.S. Bankruptcy Court for the District of Delaware illustrates one such example.  In In re Bedmar, LLC, the...more

Foley Hoag LLP - Cannabis and the Law

Intoxicating Hemp Companies Facing the Ban Should Consider Federal Bankruptcy Relief Early

The “loophole” that for years exempted intoxicating hemp from the prohibitions of the Controlled Substances Act (“CSA”) is set to close on November 13, 2026, following the federal ban enacted earlier this month. Companies...more

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