News & Analysis as of

Secured Debt Debt Restructuring

Kramer Levin Naftalis & Frankel LLP

New York Bankruptcy Court Raises the Cost of Keeping Funded Debt: Debtor Needs to Pay Default Interest Rate in Reinstatement of...

What Happened? One fundamental question in any restructuring relates to the treatment of funded debt obligations, like mortgages. When the cost of prepetition debt is higher than the prevailing market rates, a debtor may...more

Latham & Watkins LLP

Hong Kong Airlines - A Restructuring Unparalleled

Latham & Watkins LLP on

A novel debt restructuring plan will allow the carrier to recover following pandemic turbulence. In December 2022, Hong Kong Airlines’ Hong Kong scheme and English restructuring plan were sanctioned by the respective...more

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on

Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Troutman Pepper

New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast

Troutman Pepper on

Please join Consumer Financial Services Partner Chris Willis and his colleagues Deborah Kovsky and Tom Tilton as they discuss new pending legislation — the Consumer Bankruptcy Reform Act — as well as the general, overall...more

Walkers

Guernsey’s New Consumer Lending Rules

Walkers on

This briefing is the second in a series of briefings by Walkers’ on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”), and provides an overview of the licensing regime applicable to consumer...more

Miller Canfield

Real Estate Assets in a Bankruptcy/Restructuring: Selected Issues

Miller Canfield on

When an entity in financial distress is declared bankrupt, or placed under a court-supervised rescue mechanism under the Restructuring Law, among the many legal consequences are those pertaining to real estate assets that it...more

Dorsey & Whitney LLP

Bankruptcy Topics In Distressed Real Estate

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Bankruptcy cases involving commercial real estate present a multitude of problems. Those problems typically arise in the context of voluntary cases filed under chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1532...more

Cadwalader, Wickersham & Taft LLP

The Same, Only Better: Eighth Circuit Affirms Peabody Chapter 11 Plan Backstopped Rights Offering Despite Alleged Disparate...

On August 9, 2019, in a unanimous decision (written by a former bankruptcy judge), the Eighth Circuit Court of Appeals affirmed the confirmation of the Peabody Energy Chapter 11 plan (“Plan”) with a prominent backstopped...more

Kramer Levin Naftalis & Frankel LLP

Horizontal Gifting Upheld in Chapter 11 Plan in the Third Circuit

The Bottom Line - In Hargreaves v. Nuverra Environmental Solutions Inc. (In re Nuverra Environmental Solutions Inc.), 17-1024 (D. Del. Aug. 21, 2018), a Delaware district court upheld a bankruptcy court’s ruling that the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Declines to Resolve Circuit Split on Debt Recharacterization

On August 10, 2017, the U.S. Supreme Court rescinded the grant of certiorari in PEM Entities LLC v. Levin on the grounds that review had been “improvidently granted.” The case seemingly provided a perfect vehicle to resolve...more

Morrison & Foerster LLP

Spotlight on Brazil: Recuperação Judicial vs. Chapter 11

The bankruptcy proceedings of Brazilian oil companies OGX and OSX have all the makings of a financial soap opera: one high-profile billionaire filing for bankruptcy on behalf of two related enterprises with a combined...more

Cooley LLP

Court Rejects Effort to Transfer Venue of Energy Future Holdings Bankruptcy From Delaware to Texas

Cooley LLP on

In a ruling yesterday, Judge Christopher Sontchi of the United State Bankruptcy Court for the District of Delaware denied a motion by a bond trustee to transfer venue of the Dallas-based Energy Future Holdings from...more

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