News & Analysis as of

Restructuring Insolvency Bankruptcy Code

Eversheds Sutherland (US) LLP

US Supreme Court weighs in on insurer rights in bankruptcy

In the ever-evolving landscape of insurance law, a recent decision by the Supreme Court has set a new precedent that could have far-reaching implications for insurers in bankruptcy cases. In the case of Truck...more

White & Case LLP

Navigating Chapter 11 Restructurings in Australia: How Important is Recognition?

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In today's globalised economy, local recognition of foreign insolvency proceedings can be essential for the successful implementation of cross-border restructurings. This is particularly relevant in Australia — a popular host...more

Jones Day

Singapore Court Issues Landmark Decision Recognizing Indonesian Restructuring Plan

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The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That...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

Blake, Cassels & Graydon LLP

Principaux développements dans la jurisprudence canadienne en matière d’insolvabilité en 2022

En 2022, plusieurs décisions judiciaires d’importance pour les prêteurs commerciaux, les entreprises et les professionnels de l’insolvabilité ont été rendues d’un bout à l’autre du Canada. Le présent rapport résume les faits...more

Blake, Cassels & Graydon LLP

Key Developments in Canadian Insolvency Case Law in 2022

In 2022, several significant judicial decisions were rendered across Canada that are particularly relevant to commercial lenders, businesses and restructuring professionals. This comprehensive report summarizes the key facts...more

Pillsbury Winthrop Shaw Pittman LLP

Court of Appeals Finds That Insurers May Not Participate in Bankruptcy Negotiations by Invoking an Insured’s Duty to Cooperate

In rejecting an insurer’s attempt to block confirmation of its insured’s bankruptcy plan, the Fourth Circuit found that an insurer may not interject itself into plan negotiations by invoking the duty to cooperate, nor does...more

Jones Day

Business Restructuring Review | Vol. 22 No. 1 | January-February 2023

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Lawyer Spotlights: Genna Ghaul and Nicholas J. Morin - The Year in Bankruptcy: 2022 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy...more

A&O Shearman

Judge Drain Tackles Private Equity and Fraudulent Transfers in ‘Tops’ Decision

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On October 12, the Honorable Robert D. Drain, U.S. Bankruptcy Judge for the Southern District of New York, issued his final decision from the bench in the bankruptcy cases of supermarket chain Tops Holdings II Corporation...more

Kennedys

Bermuda: Provisional liquidation as a restructuring tool

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Focus on provisional liquidation as a restructuring tool - Many of 2022’s restructuring cases illustrate important trends and developments regarding Bermuda’s “light touch” provisional liquidation (or “provisional...more

Pillsbury Winthrop Shaw Pittman LLP

Profit Motive? Not Required for Subchapter V Eligibility

The Ninth Circuit BAP explains that “commercial or business activities” that satisfy section 1182(1)(A)’s Subchapter V eligibility requirement “would include not-for-profit businesses, and would not be limited to those having...more

Conyers

Joint Provisional Liquidators Appointed: All Year Holdings Limited

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Conyers BVI litigators Richard Evans and Charles Goldblatt secure the appointment of Provisional Liquidators over All Year Holdings Limited (“AYH”) at an urgent hearing before the BVI Commercial Court on 20 December 2021. ...more

Pillsbury Winthrop Shaw Pittman LLP

A Warning to Contract Counterparties: A Debtor Can Sell Your Fully Performed Contract Without Curing Defaults and Paying Your...

A decision by the Third Circuit Court of Appeals serves as a stark reminder that the sale (assignment) of a contract in bankruptcy does not always require full payment of the non-debtor counterparty’s claim. Debtors must...more

Pillsbury Winthrop Shaw Pittman LLP

Third Circuit Confirms Triangular Setoffs Unenforceable in Bankruptcy

The Third Circuit’s recent decision in In re Orexigen Therapeutics Inc., 990 F.3d 748 (3d Cir. 2021) holds that section 553 of the Bankruptcy Code, which governs creditor setoffs, requires “strict bilateral mutuality.” As a...more

McDermott Will & Emery

Special Report - Out-of-Court Restructuring Alternatives in the European Union, Germany and the United States - November 2020

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The Coronavirus (COVID-19) pandemic has had a huge impact on the global economy and most businesses, creating thousands of companies with urgent restructuring needs. Restructurings are ideally carried out early, quietly, and...more

Hogan Lovells

A creditor's game plan in Chapter 11: Five things to consider

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Stay informed - Make sure you are correctly listed on the master mailing matrix or hire counsel to make a formal appearance to make sure you get notices of what's happening in the case. Check to see if a Claims and...more

Morrison & Foerster LLP

Closing in on Make-Wholes: The Fifth Circuit’s Ultra Decision

On January 17, 2019, the United States Court of Appeals for the Fifth Circuit (the “FifthCircuit”) issued a decision in In re Ultra Petroleum Corp. that could have significant implications for creditors seeking payment of...more

Morrison & Foerster LLP

Cross-Border Clash for the Brazilian Dutch Telco in the U.S. Courts

Distressed and special situations investors should take note of the U.S. Bankruptcy Court’s recent decision in Oi’s Chapter 15 case. We present our takeaways for investors. The U.S. Bankruptcy Court refused to recognise...more

Morgan Lewis

Reform Comes to Australian Restructuring and Insolvency Law

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Two key changes made to Australian insolvency law enhance restructuring efforts in Australia and could improve outcomes for US investors. ...more

Orrick, Herrington & Sutcliffe LLP

Distressed Download - July 2015

First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act - On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District...more

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