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Debt Restructuring Debtors-in-Possession Debtors

Proskauer Rose LLP

Private Credit Restructuring: Priming DIPs in Focus

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In most chapter 11 cases, existing first lien lenders provide post-petition financing to preserve collateral value and maximize recovery. In some situations, a stressed borrower may threaten to pursue a hostile chapter 11...more

Jones Day

All Change In Europe—New Chapter 11-Style Restructuring Regime Is On Its Way!

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On 26 June 2019, the new Harmonisation Directive was formally published in the Official Journal of the European Union. As a result, by 17 July 2021, each Member State must include in its respective insolvency and...more

Jones Day

In Brief: On Remand, Momentive Bankruptcy Court Rules That Cramdown Notes Should Bear "Process Efficient" Market Interest Rate

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In Momentive Performance Materials Inc. v. BOKF, NA (In re MPM Silicones, L.L.C.), 874 F.3d 787 (2d Cir. 2017), cert. denied, 138 S. Ct. 2653 (2018), the U.S. Court of Appeals for the Second Circuit affirmed a number of lower...more

Latham & Watkins LLP

The Italian Insolvency Code: New Rules on ‘Debtor-in-Possession’ Financing

Latham & Watkins LLP on

The Insolvency Code contains a “debtor-in-possession” financing regulation that reforms the legal framework outlined in the Bankruptcy Law in force until August 2020. Key Points: ..The newly enacted Insolvency Code...more

Jones Day

UK's Proposed Corporate Restructuring Regime Follows European-Style Chapter 11 and Debtor-in-Possession Trend

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The UK Government has announced proposals to introduce a new UK restructuring plan and moratorium, together with certain other changes to the corporate governance regime relevant to companies in distress. In addition,...more

Patterson Belknap Webb & Tyler LLP

Sears: Another Retail Giant Turning to Bankruptcy Court for Help

Started as a mail-order retailer, evolved to brick-and-mortar stores in urban areas and expanded to a big-box retailer through merger, Sears is now facing the most turbulent time in its history. On October 15, 2018, Sears...more

Jones Day

Second Circuit Issues Key Cramdown Interest Rate Ruling

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In Momentive Performance Materials Inc. v. BOKF, NA (In re MPM Silicones, L.L.C.), 2017 BL 376794 (2d Cir. Oct. 27, 2017) ("Momentive"), the U.S. Court of Appeals for the Second Circuit, in a long-anticipated decision,...more

Jones Day

Two Recent Decisions Demonstrate Continued Disagreement Over Whether Economic Value or Face Amount of Liens Is Appropriate Metric...

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The ability of a trustee or chapter 11 debtor in possession ("DIP") to sell bankruptcy estate assets "free and clear" of liens on the property under section 363(f) of the Bankruptcy Code has long been recognized as one of the...more

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