News & Analysis as of

Creditors Debt Restructuring

Mayer Brown

German Insolvency Law - Rights and Duties of the Creditors' Committee

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RIGHTS AND DUTIES OF THE CREDITORS' COMMITTEE - The principal body representing insolvency creditors is the creditors' assembly, through which creditors jointly exercise their rights vis-a-vis the insolvency debtor, the...more

Hughes Hubbard & Reed LLP

Developments in Leveraged Finance — Know Thy Lender

Nov. 12, 2025 – “Know thy enemy” is often attributed to Sun Tzu, who famously advised “[i]f you know the enemy and know yourself, you need not fear the result of a hundred battles.” Centuries later, as many of us with...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

Cadwalader, Wickersham & Taft LLP

Happy Halloween From Scooby Boo!! October 2025 - District Court in Houston Further Clarifies “Equal Treatment” Rule, Supporting...

On September 25, 2025, the U.S. District Court for the Southern District of Texas overturned the Bankruptcy Court's confirmation of ConvergeOne's chapter 11 plan for violating the Bankruptcy Code’s “equal-treatment” rule. ...more

Falcon Rappaport & Berkman LLP

Commercial Bankruptcy Filings Surge in July 2025

Newly released data shows a significant rise in bankruptcy filings across the U.S., with commercial businesses seeing some of the steepest increases....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

White & Case LLP

Blockers Revealed: The Next Frontier in Creditor Protection

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A liability management exercise ("LME") is, at its core, any transaction a company undertakes to manage its debt other than actually servicing it in the ordinary course of business. While these historically ranged from...more

Hogan Lovells

Fairness back in fashion: River Island restructuring plan provides guidance on evidentiary requirements for cross-class cramdowns

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The sanction decision handed down by the English High Court (Sir Alastair Norris) on 4 September 2025 in connection with the River Island Part 26A restructuring plan has provided helpful clarification as to what the Court...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

Blank Rome LLP

The Cannabis Industry’s $6 Billion Debt Wall

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A debt avalanche is bearing down on the U.S. cannabis market to the tune of roughly six billion dollars coming due by the end of 2026, with the top five borrowers—each a multi-state operator (“MSO”)—accounting for about $3.4...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

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

Orrick, Herrington & Sutcliffe LLP

UK Founder Series: Insolvency and Considerations for Directors and Investor Representatives

Orrick's Founder Series offers monthly top tips for UK startups on key considerations at each stage of their lifecycle, from incorporating a company through to possible exit strategies. ...more

Schwabe, Williamson & Wyatt PC

Bankruptcy Overview and Best Practices

In light of current economic indicators and the potential for an increase in financial distress, this article is intended to serve as a general resource regarding financial restructurings, workouts, insolvency, and...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

Benesch

Claimants at the Gate: Circuit Split Develops on Bankruptcy Court’s “Gatekeeping” Role

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A recent decision by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), in the matter of In re AIO US, Inc., case no. 24-11836-CTG (“Avon”), created a split with the Fifth Circuit on the...more

Blank Rome LLP

Turning Over a New Leaf: How Cannabis Receiverships Can Cultivate a Stronger Future

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It is no secret that the cannabis industry has been on a wild ride lately, especially in mature markets. Many operators are feeling the pressure, and they are not alone. Let us break down the current landscape, why it is...more

Hogan Lovells

Leapfrogging the Strait of Messina: Lessons from Waldorf’s failed restructuring plan

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On 19 August 2025, the High Court refused sanction of the restructuring plan proposed by Waldorf Production UK Plc under Part 26A of the Companies Act 2006. On 9 September 2025, Waldorf was granted a certificate to...more

Seward & Kissel LLP

Round Trip Ticket and Doctor’s Orders

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Spirit Airlines files for bankruptcy for 2nd time in less than a year | NPR After emerging from a Chapter 11 reorganization in March, the airline has once again filed for bankruptcy protection. S&K Take: The big news in the...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Holds That SAFE Investors May Have Creditor Claims in Chapter 11

In In re Rhodium Encore LLC, the U.S. Bankruptcy Court for the Southern District of Texas ruled that holders of SAFEs should be treated as creditors because they possess creditor claims, not merely equity interests. The...more

Greenberg Glusker LLP

Chapter 11—A Basic Primer

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No one sets out in business to fail, but despite our best efforts, this sometimes occurs. The reasons are multiple and varied: Sometimes there is a change in the industry and the business has not been able to evolve to meet...more

Arnall Golden Gregory LLP

Restructuring Roundup - August 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

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