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Securities and Exchange Commission (SEC) Bankruptcy Code

DLA Piper

SDNY Bankruptcy Court Holds that “Opt-Out” Mechanism Renders Third-Party Releases Consensual in Spirit Airlines Chapter 11 Plan

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The US Bankruptcy Court for the Southern District of New York (the Court) recently approved third-party releases contained in a chapter 11 plan (the Plan) and found that, under the facts and circumstances, the opt-out...more

Morris James LLP

Navigating Cryptocurrency Disputes in Litigation and Bankruptcy: Legal Challenges and Complexities

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The rise of cryptocurrency has introduced new complexities to both traditional litigation and bankruptcy courts. While these two legal arenas share some overlap, the treatment of cryptocurrency in each context is distinct,...more

Proskauer Rose LLP

Third Circuit Follows Fifth and Ninth Circuits on Treatment of Make-Whole Claims in Bankruptcy

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In a much-anticipated decision, the United States Court of Appeals for the Third Circuit recently held that unsecured noteholders’ claims against a debtor for certain “Applicable Premiums” were the “economic equivalent” to...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

Venable LLP

Are Loans Securities? The United States Court of Appeals for the Second Circuit Responds in Kirschner v. JP Morgan Chase Bank,...

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On August 24, 2023, the United States Court of Appeals for the Second Circuit (the "Court") upheld the District Court's ruling in Kirschner v. JPMorgan Chase Bank, N.A. that notes issued as part of a refinancing transaction...more

Levenfeld Pearlstein, LLC

Who Owns Crypto Assets? Know the Risks

Until recently, the nature of ownership of assets on deposit with a third party was not controversial. If a local bank branch goes bankrupt, the cash or other assets deposited with the bank belonged to individual...more

Epiq

How Will Bankruptcy Courts Shape Crypto Regulation?

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Last year’s cryptocurrency market crash a/k/a “the crypto winter” did not cause trembles in the U.S. economy, but it caused enormous losses to its investors. The near collapse of this decentralized currency market resulted in...more

UB Greensfelder LLP

Chasing the Crypto: Why a Ruling in the Madoff Case May Significantly Expand the Universe of FTX Clawback Defendants

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While there are still many unknowns in FTX’s bankruptcy including what, exactly, happened to billions of dollars of customer deposits on the former crypto trading platform, one thing is almost certain: there will be an...more

Husch Blackwell LLP

Another Cryptocurrency Firm Bites the Dust

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Cryptocurrency platform BlockFi Inc.—another casualty of the collapse of exchange FTX earlier this month—filed a Chapter 11 bankruptcy petition this morning in the New Jersey Bankruptcy Court (Case No. 22-1936). BlockFi joins...more

Lowenstein Sandler LLP

The Role of a Creditors’ Committee to Investigate, Preserve, and Pursue Causes of Action in Crypto Bankruptcies

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Lowenstein Sandler’s previous articles on crypto bankruptcies discussed the role of a creditors’ committee in protecting the rights of customers and confirmation issues arising in crypto cases. This article will delve deeper...more

Tonkon Torp LLP

Crypto Trading Platforms and Bankruptcy Law: Are Clients Protected?

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Cryptocurrency investors, who were already in the icy clutches of the so-called “crypto winter,” now have another reason to shiver. Insolvency issues are cropping up with some frequency among crypto companies, which is...more

Holland & Knight LLP

Holland & Knight's China Practice Newsletter: November-December 2021

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Holland & Knight invites you to read our China Practice Newsletter, in which our authors discuss pertinent Sino-American topics - HIGHLIGHTS: Preference Claims Clawbacks in Bankruptcy Can Disrupt a Construction...more

Winstead PC

Charges Against Marble Ridge Capital Founder Illustrate the Pitfalls That Await Members of Unsecured Creditors’ Committees Who...

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On September 3, 2020, the Securities & Exchange Commission charged Daniel Kamensky with abusing his fiduciary position as co-chair of the Neiman Marcus Group Unsecured Creditors’ Committee by pressuring a rival bidder to...more

Foley & Lardner LLP

Finally 190! Years in the Making: CFTC Proposes New Bankruptcy Rules for FCMs and DCOs

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On April 14, by unanimous vote of the Commissioners, the Commodity Futures Trading Commission (“CFTC” or “Commission”) approved a notice of proposed rulemaking to update comprehensively its Part 190 Rules governing a...more

Lowenstein Sandler LLP

Some Going Concerns: A Primer On Intellectual Property Issues In Bankruptcy For Licensors And Licensees

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Much has been written on the myriad of legal issues emanating from the global COVID-19 pandemic: the constitutionality of the lockdowns, liability for stores that open, the process of obtaining PPP loans, and the...more

Goodwin

Financial Services Weekly News - February 2018 #3

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Editor's Note - Consumer Finance 2017 Year in Review. Year 2017 brought leadership change at the Consumer Financial Protection Bureau (CFPB), turnover at various regulatory agencies, the continued rise of state-level...more

Perkins Coie

Blockchain and the Law - Overview of token sales and bitcoin property rights

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On March 29, 2017, Perkins Coie partner Dax Hansen and associate Josh Boehm were invited to the Cyber Initiative at Stanford Law School to deliver a presentation on several cutting-edge legal issues relating to blockchain...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

SEC Provides Additional Analysis Related to Proposed Pay Ratio Disclosure Rules - On June 4, the Securities and Exchange Commission provided additional analysis related to its proposed rules for pay ratio disclosure. The...more

Goodwin

Financial Services Weekly News Roundup - November 2014 #4

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Editor’s Note: Spotlight on the FDIC: In a Financial Institutions Letter, FIL-56-2014, the FDIC announced additional guidance on its 1998 Statement of Policy on Applications for Deposit Insurance in a Q&A format on...more

Tucker Arensberg, P.C.

Creditors Beware! Give the Trustee Time To Breathe Or Risk Violating The Automatic Stay

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The Bankruptcy Code’s (the “Code”) automatic stay applies to all companies and individuals; it protects the debtor’s property, and the bankruptcy court’s jurisdiction, by barring any act to gain possession of property in the...more

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