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Corporate Restructuring Debt Restructuring

Proskauer Rose LLP

Market Turmoil: Proven Strategies for Managing Private Credit Portfolios Through Volatility

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As during the emergence of the COVID-19 pandemic in March 2020, private credit lenders today face the challenge of adapting to rapidly shifting circumstances driven by a volatile macroeconomic landscape. If past is at all...more

A&O Shearman

Not just another drop in the ocean: Thames Water and developments in restructuring plans since Adler

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In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the...more

Proskauer Rose LLP

Private Credit Restructuring: Strict Foreclosure Spotlight

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Chapter 11 is expensive and not always the right tool, particularly for a restructuring of a company with a broken balance sheet, as compared to a business with a broken business model. We have seen a significant uptick in...more

Jones Day

Revisiting Singapore's Corporate Restructuring and Insolvency Regime: Cross-Class Cramdown in Schemes of Arrangement

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On March 11, 2025, the Committee to Enhance Singapore's Corporate Restructuring and Insolvency Regime (the "Committee") published a report (the "Report") outlining its recommendations to further enhance and modernize...more

DLA Piper

President Trump’s “Liberation Day” Tariffs – Should We Prepare for More Financial Distress and Restructuring?

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On Wednesday, 2 April 2025, President Trump announced tariffs on nearly all imports to the US. The markets responded with significant falls in both equity and debt markets. Market volatility has continued into this week. Our...more

Paul Hastings LLP

English Court Approves Enzen Part 26A Restructuring Plans in First Case With HMRC Active Support

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On 25 March 2025, the English Court approved the interconditional dual restructuring plans of Enzen Global Limited and Enzen Limited (Enzen). The plans amend and extend £50 million senior secured liabilities, provide for new...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2025

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Jones Day

Business Restructuring Review Vol. 24, No. 2 | March–April 2025

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Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more

DLA Piper

SDNY Bankruptcy Court Holds that “Opt-Out” Mechanism Renders Third-Party Releases Consensual in Spirit Airlines Chapter 11 Plan

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The US Bankruptcy Court for the Southern District of New York (the Court) recently approved third-party releases contained in a chapter 11 plan (the Plan) and found that, under the facts and circumstances, the opt-out...more

HaystackID

23andMe’s Court-Supervised Restructuring: Navigating Turbulent Financial Waters

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On March 23, 2025, 23andMe, a pioneer in the field of genetic testing and consumer healthcare, announced it had filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Missouri. The objective...more

Seward & Kissel LLP

Opting Out, Out of Options, and Sunnova Flaming Out

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Spirit Airlines recently emerged from Chapter 11 bankruptcy and announced it plans to rebrand itself as a premium airline. S&K Take: The Spirit case was obviously a significant undertaking, and the plan was confirmed by Judge...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Issues New Decision on Recognition of Foreign Proceedings Under Chapter 15

The U.S. bankruptcy court in New York recently issued an important decision under Chapter 15 of the U.S. Bankruptcy Code concerning the restructuring of U.S. law governed debt in a foreign insolvency proceeding. In re Mega...more

Proskauer Rose LLP

Enforceability of Golden Directors with Bankruptcy Consent Right

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The appointment of an independent director is a powerful tool for private credit lenders. The appointment is designed to introduce a voice of neutrality and fairness into the board’s decision-making process with the hope and...more

Farrell Fritz, P.C.

JOANN, Inc. to Close 500 Stores Nationwide

Farrell Fritz, P.C. on

On January 15, 2025, JOANN Inc. commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. That was the second bankruptcy filing in a year for JOANN, an 82-year old fabric and craft...more

Awatif Mohammad Shoqi Advocates & Legal...

Preventive Settlement and Restructuring Procedures Under the UAE Bankruptcy Laws

Running a business involves taking risks in order to continue to scale new grounds. Sometimes, these risks may not be successful, leading to debts. Even without risks, debts may be incurred as a result of not being able to...more

Seward & Kissel LLP

Forever 22, Powder Room, and Initial Here

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Forever 21 plans nearly 200 store closures in second bankruptcy, Bloomberg News reports | Reuters - The U.S.-based operator of clothing retail chain Forever 21 is planning to shut down at least 200 additional locations as...more

Troutman Pepper Locke

What Are Some Alternatives to Chapter 11 and How Do They Affect Creditors? - Creditor’s Rights Toolkit

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There are many reasons why a company might be experiencing financial distress, including overwhelming debt, cash flow problems, substantial litigation claims, and/or economic downturn. Companies sometimes use Chapter 11 as a...more

Arnall Golden Gregory LLP

Restructuring Roundup - February 2025

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Latham & Watkins LLP

Cram-across: Sino-Ocean Restructuring Plan Makes Waves

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The evolution of the English RP continues to push the jurisdictional envelope. The English court’s sanction of the Sino-Ocean restructuring plan (RP) marks an interesting development in the evolution of the English RP....more

Mintz

Watch Your Language! Non-Pro Rata Uptier Transactions and the Serta and Mitel Decisions

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Among the many financial innovations that came out of the COVID era, non-pro rata uptier transactions as a liability management exercise (“LMEs”) are among the more controversial. While lawsuits challenging non-pro rata...more

Jones Day

Business Restructuring Review Vol. 24 No. 1 | January–February 2025

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The Year in Bankruptcy: 2024 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more

Seward & Kissel LLP

The Final Frontier, Exclusive Offer, and Object Now

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Spirit Airlines rejects Frontier's bid, aims to exit bankruptcy in first quarter | Reuters - On Wednesday, low-cost carrier Spirit Airlines denied a bid of about $2.16 billion from rival Frontier Group as it was not...more

Proskauer Rose LLP

The Evolving New Normal 2024 Private Credit Restructuring Year in Review

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In many ways, 2024 continued existing trends in private credit: modest levels of M&A activity, competition among direct lenders to deploy capital, higher-for-longer interest rates, persistent inflation, elevated default...more

Farrell Fritz, P.C.

Party City Seeks to Monetize its Lease Portfolio Through Bankruptcy Auction Process

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On December 21, 2024, Party City Holdco Inc. and certain of its subsidiaries initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas to accomplish an orderly wind down of its...more

Seward & Kissel LLP

Sack Exchange and Which Craft?

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Purdue's Sackler family offers to increase contribution in new opioid settlement, WSJ reports | Reuters - The Sackler family, owners of Purdue Pharma, is offering to increase their contribution to the opioid lawsuit...more

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