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Creditors Corporate Restructuring

Ropes & Gray LLP

Distressed Debt Legal Insights

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

Mayer Brown

BGH zur Wirecard-Insolvenz: Aktionärsansprüche sind keine einfachen Insolvenzforderungen

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Der Bundesgerichtshof (Pressemitteilung vom 13.11.2025) stellt in seinem heutigen Urteil klar: Kapitalmarktrechtliche Schadensersatzansprüche von Aktionären – etwa wegen irreführender Ad-hoc-Mitteilungen oder Täuschungen über...more

Pillsbury - Propel

Top 10 Things to Watch Out for When Cash Flow Is Tight: Restructuring Considerations for ECVC-Backed Companies

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In today’s volatile funding landscape, even high-potential early- and growth-stage companies can find themselves navigating tight liquidity conditions. For founders and executive teams in the ECVC space, recognizing early...more

Seward & Kissel LLP

Lacking Merit and First Watch

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Dr. Phil Loses Trial Over His Media Startup’s Bankruptcy | The Hollywood Reporter - The case will proceed as a Chapter 7 liquidation after a U.S. bankruptcy judge rejected McGraw’s bid to keep it in Chapter 11....more

Hogan Lovells

Turbo Group – A practical application of recent restructuring plan developments

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The English High Court last week published its judgment ([2025] EWHC 2678 (Ch)) in respect of its sanction on 9 July 2025 of the inter-conditional restructuring plans proposed by thirteen Turbo Group companies under Part 26A...more

Hogan Lovells

UK: Q: When is a secured creditor no longer a creditor? A: when it’s been repaid - sometimes

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In 2024, two judgments found that consent from repaid secured creditors is not required to extend an administration. Although seemingly a common sense approach, language used in the Insolvency Act 1986 (the “Act”) and the...more

Hogan Lovells

Federal Court limits LME tactic in Chapter 11 context: ConvergeOne Holdings

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On September 25, 2025, Judge Andrew Hanen of the United States District Court for the Southern District of Texas reversed the bankruptcy court’s confirmation of ConvergeOne Holdings Inc.’s prepackaged Chapter 11 plan. The...more

Seward & Kissel LLP

The Sum of Its (Car) Parts and Whiskey Rebellion

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First Brands CEO James resigns amid bankruptcy process; turnaround expert in charge | Reuters - Newly instated Chief Restructuring Officer Charles Moore has been positioned at the company since September....more

Bennett Jones LLP

Trend Watch: Determining COMI in US Chapter 15 Proceedings

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A US Bankruptcy Court's recent decision provides important insights for Canadian debtor companies that are involved in cross-border restructurings and are seeking recognition of Canadian insolvency proceedings in the United...more

Hogan Lovells

The Delaware Two-Step doesn’t work either

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The takeaway is that parties seeking to attempt a Delaware Two-Step—relying on a divisive merger statute that is even less company-friendly than Texas’s, and even with arguably more favorable facts—will fare no better than...more

Seward & Kissel LLP

Feeling Irregular, Mega Man, and Going For a DIP

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First Brands files for bankruptcy, revealing billions of dollars in liabilities | Reuters - First Brands bankruptcy probe investigating financing irregularities related to invoices | Reuters - First Brands obtains...more

Hogan Lovells

Plan and Simple? New UK Practice Statement tightens process and requirements for schemes and restructuring plans

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On 18 September 2025, the Chancellor of the High Court, Sir Julian Flaux, issued a revised Practice Statement (the “Revised Practice Statement”) in respect of Schemes of Arrangement and Restructuring Plans under Parts 26 and...more

Ropes & Gray LLP

Everything’s Bigger in Texas, but Not the Backstop Fees: ConvergeOne and Section 1123(a)(4)

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In what may be an interesting new trend, yet another senior court within the Fifth Circuit Court of Appeals has issued an opinion with the potential for serious disruption to previously accepted market practice. On September...more

White & Case LLP

Towards “Orderly and Efficient Resolution”: The New Practice Statement in Respect of Schemes of Arrangement and Restructuring...

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On 18 September 2025, the Chancellor of the High Court, the Rt. Hon. Sir Julian Flaux announced the long-awaited publication of the updated Practice Statement in relation to schemes of arrangement and restructuring plans (the...more

J.S. Held

The Case for Out-of-Court Winddowns

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When a business faces insolvency, the path forward is rarely straightforward. Should the company file Chapter 11 in hopes of reorganizing? Should it liquidate under Chapter 7? Would an assignment for the benefit of creditors...more

Proskauer Rose LLP

District Court Rejects Exclusive Backstop in Chapter 11 Plan

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A Texas district court ruling late last week could reshape the landscape of Chapter 11 restructurings by striking down exclusive backstop agreements as violating the Bankruptcy Code’s equal-treatment rule....more

Cornerstone Research

Trends in Large Corporate Bankruptcy and Financial Distress: Executive Summary

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The elevated pace of large corporate bankruptcy filings that began in early 2023 has persisted over the last 12 months (2H 2024–1H 2025) and even increased over the prior year. The most common reported drivers have been high...more

Seward & Kissel LLP

Spin Doctor and More Cowbell

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A Defiant Dr. Phil Takes the Stand in His Media Startup’s Bankruptcy | Hollywood Reporter - McGraw denied claims that he drove Merit Street Media to bankruptcy as a means by which to launch Envoy Media....more

Tarter Krinsky & Drogin LLP

Bidding Requirements in Popular Brooklyn Hot-Spot up for Sale in Chapter 11 Bankruptcy Case

In this legal alert, we highlight an often overlooked strategy for maximizing sale proceeds of a distressed business: a Chapter 11 bankruptcy sale pursuant to section 363 of the Bankruptcy Code. On August 4, 2025, Avant...more

King & Spalding

Waldorf Production on the way to the Supreme Court

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Waldorf Production UK Plc has been granted permission to ‘leapfrog’ the Court of Appeal and apply directly to the Supreme Court for permission to appeal the High Court’s refusal to sanction its restructuring plan. If the...more

Jones Day

Florida Bankruptcy Court: Proposed DIP Financing and Sale Framework for Administratively Insolvent Debtors Did Not Violate Jevic's...

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The U.S. Supreme Court ruled in Czyzewski v. Jevic Holding Corp., 580 U.S. 451 (2017), that the Bankruptcy Code prohibits final distributions to creditors that deviate from the Bankruptcy Code's priority scheme as part of a...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Dismisses Case Manufactured to Cap Lease Damages

The Delaware bankruptcy court dismissed a chapter 11 case for lack of a valid bankruptcy purpose and the debtor’s failure to establish its good faith. ...more

Troutman Pepper Locke

Navigating Corporate Restructuring: Strategies to Optimize Value and Manage Liabilities — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis, co-leader of Troutman Pepper Locke’s Consumer Financial Services Regulatory practice, delves into the intricacies of corporate restructuring with Alex Rovira, a...more

Hogan Lovells

Setting the Standard: Standard Profil’s scheme of arrangement sanctioned notwithstanding Frankfurt court’s decision in Project...

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Standard Profil’s scheme of arrangement was sanctioned by the English High Court on 9 September 2025, notwithstanding a recent Frankfurt court decision casting doubt on whether English restructuring plans and schemes of...more

Nelson Mullins Riley & Scarborough LLP

Chapter 15-Related Rulings: Trends and Practical Lessons for Cross-Border Restructurings

As corporate distress increasingly transcends borders, Chapter 15 of the U.S. Bankruptcy Code has become a crucial tool for coordinating multinational restructurings. In this chapter, we delve into the emerging trends and...more

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