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Debt Restructuring Bankruptcy Code

DLA Piper

Third Circuit Court Orders Solvent Debtors to Pay Contract Rate Interest, Make-Whole Fees to Unsecured Creditors

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Introduction - On September 10, 2024, the US Court of Appeals for the Third Circuit decided in In re Hertz that although make-whole fees are unmatured interest typically disallowed by section 502(b) of the Bankruptcy Code, a...more

Seward & Kissel LLP

Rock the Vote and RICO-chet

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Celsius pushes back on FTX customer payback plan | Bloomberg Law - The Celsius administrator and liquidators of Three Arrows Capital objected to FTX's Chapter 11 plan, arguing it aims to compensate people who had accounts...more

Jones Day

Business Restructuring Review Vol. 23 No. 4 | July–August 2024

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more

Jones Day

Circuit Split: Eleventh Circuit and Second Circuit Disagree on Eligibility Requirements for Chapter 15 Debtors

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Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more

Arnall Golden Gregory LLP

Restructuring Roundup - July 2024

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

Buckingham, Doolittle & Burroughs, LLC

Business Bankruptcy Alternatives

In the middle market, businesses are feeling the financial crunch. Pandemic-era governmental incentives are ending, interest rates are on the rise, and consumer demand for some products is waning. These factors have led to...more

Mayer Brown

I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

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They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more

Bowditch & Dewey

Ten Reasons to Expect an Increase in Financial Restructurings in 2025

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1. Commercial Chapter 11 Bankruptcy Filings Have Increased Significantly Year-Over-Year: There has been a significant increase in the number of commercial Chapter 11 cases (larger company filings) in 2024. By way of example,...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

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

Shumaker, Loop & Kendrick, LLP

Client Alert: Critical Vendor in Texas: It’s a Rodeo

In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more

Proskauer Rose LLP

New York Legislature Proposes New Sovereign Debt Restructuring Bill

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The New York State Legislature recently proposed a bill, entitled the Sovereign Debt Stability Act, intended to facilitate sovereign debt restructuring. The bill, which could be brought to a vote as soon as May or June 2024,...more

Fox Rothschild LLP

The More Things Change, The More They Stay The Same? Survival Of Small Businesses Again Dependent On Action From Congress

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Right now, a business with less than $7.5 million in debt can file an easier, cheaper, and more efficient bankruptcy than a traditional Chapter 11. That privilege will soon be limited to businesses with less than around $3...more

Latham & Watkins LLP

Adler: A Spanish Perspective

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How would the Spanish court tackle the issues faced by the English Court of Appeal in Adler? Our analysis provides an instructive comparison for groups, shareholders, and creditors when considering where to restructure....more

Stark & Stark

JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization

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​​​​​​​JOANN, Inc., aka Jo-Ann Stores Holdings Inc. aka JOANN aka Jo-Ann Fabrics and Crafts, the 80-year-old, Ohio-based, arts-and-crafts operator filed for Chapter 11 bankruptcy protection in the District of Delaware...more

Holland & Knight LLP

The Real Estate and Corporate Restructuring Connection, Plus Retail Restructuring Trends

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The transition to online shopping, interest rate increases, labor costs, maturing debt and rising inflation have collectively taken a significant toll on the retail industry, contributing to store closures and a growing...more

Proskauer Rose LLP

Staying Afloat in an Uncertain Economic World: Hope for the Best, Prepare for the Worst Private Credit Restructuring Year in...

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While global inflation and higher-for-longer interest rates dominated macroeconomic headlines over the last year, middle-market private credit restructurings witnessed three notable trends.  First, these credits remained...more

Kramer Levin Naftalis & Frankel LLP

Getting Public Information in Chapter 11

Companies in Chapter 11 must publicly report substantial financial information — indeed, more information should be reported or available publicly in Chapter 11 than outside of Chapter 11. This paper analyzes what information...more

Jones Day

Fifth Circuit: Bid Protections for Stalking Horse in Bankruptcy Asset Sale Satisfied Both Business Judgment and Administrative...

Jones Day on

Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of assets outside the ordinary course of the...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

Orrick, Herrington & Sutcliffe LLP

WeWork Bankruptcy: The Basics

As you may know, WeWork Inc. and 517 of its affiliates filed Chapter 11 bankruptcy petitions this week. At its height, WeWork was valued at $47 billion, but the company’s Class A Common Stock declined more than 98 percent...more

Harris Beach PLLC

California Court Ruling Could Potentially Open Up a Pathway to Bankruptcy for Cannabis-Related Businesses

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A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more

Lathrop GPM

Building Nonprofit Resilience: Dealing with Financial Distress

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In this multi-part series, we highlight strategic steps that nonprofits can take to build organizational resilience in three different phases of its life cycle—in times of health, when beginning to experience financial or...more

Arnall Golden Gregory LLP

Restructuring Roundup - September 2023

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

Kaufman & Canoles

Credit Union Client Alert - September 2023

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In a recently published opinion by Fourth Circuit Judge Quattlebaum, Jr., the majority of the panel found there to be a genuine dispute of material fact in Plaintiff Mark Anthony Guthrie’s North Carolina Debt Collection Act...more

Shook, Hardy & Bacon L.L.P.

Commercial Recovery

Historically, in-house law departments can be known as cost centers to companies. But there is a way to turn around that perception. In these volatile economic times, it makes good sense to strive to return more money to the...more

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