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Creditors Debtors Appeals

White & Case LLP

Arbitration and Insolvency: A Comparative View from England & Wales, Singapore and Hong Kong

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If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Should a court simply...more

Mintz - Bankruptcy & Restructuring Viewpoints

In re Weinstein and Mallinckrodt: Implications for Royalty Financings, M&A Earn-Outs, and Other Transactions Involving Future...

Deal structure matters, particularly in bankruptcy. The Third Circuit recently ruled that a creditor’s right to future royalty payments in a non-executory contract could be discharged in the counterparty-debtor’s bankruptcy....more

Bradley Arant Boult Cummings LLP

5th Circ. Bond Claim Ruling Shows Creditors Must Be Vigilant

With its January opinion in Raymond James & Associates Inc. v. Jalbert, the U.S. Court of Appeals for the Fifth Circuit held that the bankruptcy debtor's indemnification obligations were discharged by the confirmed plan...more

King & Spalding

The Seventh Circuit Upholds District Court’s Decision That Safe Harbor Provision of Section 546(e) Applies to Privately Held...

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A recent ruling from the United States Court of Appeals for the Seventh Circuit provides additional comfort for lenders receiving full repayment in connection with leveraged acquisitions. The U.S. Bankruptcy Code gives...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan (UPDATE)

Jones Day on

On January 23, 2024, the Court of Appeal in England and Wales (the "Appeal Court") upheld a challenge launched by dissenting creditors to overturn the UK Restructuring Plan (the "RP") of the Adler Group previously approved by...more

Akin Gump Strauss Hauer & Feld LLP

Adler Restructuring Plan Set Aside: Reflections on the English Court of Appeal’s Landmark Ruling

In one of the most highly anticipated judgments in the European restructuring market in recent years, on 23 January 2024, the English Court of Appeal overturned the High Court’s decision sanctioning the Adler restructuring...more

A&O Shearman

SGCA sets a limit on debtors invoking arbitration clauses to resist winding up applications

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In Founder Group (Hong Kong) Ltd v Singapore JHC Co Pte Ltd (2023), the Court of Appeal set limits on a debtor’s ability to resist a winding up application by pointing to an arbitration clause in the underlying agreement....more

A&O Shearman

Interpreting the UNCITRAL Model Law on Cross-Border Insolvency: Singapore courts adopt a uniform, consistent and expansive...

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Creditors involved in cross-border restructuring or insolvency proceedings of corporate groups will find that the approach of the Singapore courts to questions of cross-border insolvency provides the assurance of an orderly...more

Troutman Pepper

Who Is a Secured Creditor and What's the Difference Between a Secured Creditor and an Unsecured Creditor? - Creditor’s Rights...

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Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy. A secured creditor is a creditor whose claim is supported by a...more

Patterson Belknap Webb & Tyler LLP

Tenth Circuit Holds that Sovereign Immunity Does Not Limit Section 544 Claim

Section 544(b)(1) of the Bankruptcy Code enables a trustee to step into the shoes of a creditor and avoid a transfer “of an interest of the debtor in property” that an unsecured creditor could avoid under applicable state...more

Dechert LLP

UK Court Rules Debtor Cannot Use Corporate Vehicle to Evade Liability

Dechert LLP on

Section 423 of the Insolvency Act 1986 allows for the reversal of certain transactions at an undervalue that are intended to prejudice the interests of creditors. The scope of Section 423 is extensive and may be used to...more

Bracewell LLP

Texas "Two-Step" Forward, Three Steps Back for Mass Tort Debtors in the Third Circuit After LTL

Bracewell LLP on

In a decision that may provide much-needed boundaries around the permissibility of debtors created from “out-of-the-box” prepetition corporate transactions, on January 30, 2023, the United States Court of Appeals for the...more

Troutman Pepper

Ninth Circuit Bankruptcy Appellate Panel Disallows Claim Finding Supporting Documentation Insufficient Under State Law

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On July 19, 2022, the Ninth Circuit Bankruptcy Appellate Panel ruled that a creditor’s proof of claim — while meeting the standard of the Bankruptcy Code — was insufficient to enforce the debt under state law and was...more

Conyers

Directors: “What shall we do?” – Interplay between the Sequana decision, HSBC v NewOcean Energy Holdings Ltd and the new Cayman...

Conyers on

Due to the recent challenging economic environment, the law’s treatment of creditors’ interests in a restructuring or insolvency has been a hot topic. From a creditor’s perspective, its objective will be straightforward: to...more

Proskauer Rose LLP

Special Alert: Fifth Circuit Targets Make-Whole Claims in Bankruptcy - Insights

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In an important decision to private credit lenders, the Fifth Circuit Court of Appeals held that a make-whole premium for an unsecured creditor tied to future interest payments is the “functional equivalent of unmatured...more

Pillsbury Winthrop Shaw Pittman LLP

Post-Petition Payment for Pre-Petition Delivery of Goods under Section 503(b)(9) Does Not Reduce Creditor’s Subsequent New Value...

An Eleventh Circuit Court of Appeals’ decision permits a creditor both to be paid in full under Bankruptcy Code section 503(b)(9) for goods delivered within 20 days before commencement of a bankruptcy case, and to use the...more

Arnall Golden Gregory LLP

You Never Give Me Your Money: Initial Recipient of Funds is Not Always a “Transferee” Liable for Fraudulent Transfers

In a recent summary order in an appeal from a bankruptcy court, the United States Court of Appeals for the Second Circuit reaffirmed that mere receipt of a fraudulent transfer is not always sufficient to render the recipient...more

Jones Day

The Eleventh Circuit Revisits the Doctrine of Statutory Mootness in Bankruptcy Sales

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The finality of sales of assets in bankruptcy is an indispensable feature of U.S. bankruptcy law, designed to maximize the value of a bankruptcy estate as expeditiously as possible for the benefit of all stakeholders....more

White & Case LLP

The Singapore Court of Appeal considers the UNCITRAL Model Law

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The automatic stay under the version of the UNCITRAL Model Law on Cross-Border Insolvency adopted by Singapore ("Singapore Model Law") is an accessible and powerful tool for protection under the Singapore restructuring regime...more

McDermott Will & Emery

Temporary Relief for Debt Collectors: 11th Circuit Withholds Hunstein Mandate

On June 14, 2021, the US Court of Appeals for the 11th Circuit issued an order withholding issuance of the mandate for its April 21, 2021, holding in Hunstein v. Preferred Collection and Management Services, Inc. In Hunstein,...more

Maynard Nexsen

"Mere Retention” of Property Does Not Violate the Automatic Stay

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Earlier this year, the United States Supreme Court resolved an important question for banks, credit unions and other creditors who have a security interest in personal property owned by a debtor and lawfully take possession...more

Patterson Belknap Webb & Tyler LLP

Update: Seventh Circuit Revives Fulton Circuit Split

In January, we reported that the Supreme Court had resolved a split among the Circuit Courts of Appeals regarding property seized from a debtor pre-petition, holding that “merely retaining possession of estate property does...more

Smith Debnam Narron Drake Saintsing & Myers,...

NC Court of Appeals Confirms Judgments Follow Real Property After Transfer

As too many judgment creditors know (or sometimes quickly learn), a judgment is often not worth much more than the paper on which it is printed. One important exception, however, is when the judgment debtor owns real...more

Patterson Belknap Webb & Tyler LLP

Debtor Alleges Thirteenth Amendment Violation; Court Says Debtor Has Standing to Assert the Claim; Decision on the Merits to...

It’s rare for a debtor in bankruptcy to raise allegations of involuntary servitude and a violation of the Thirteenth Amendment. But one debtor did just that after a chapter 11 trustee was appointed to take over the debtor’s...more

Patterson Belknap Webb & Tyler LLP

Court Dismisses Bankruptcy Case to Enable Debtor to Seek a Paycheck Protection Loan

It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan?...more

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