Kelley Drye & Warren LLP
Federal law requires that public debt be issued under a trust indenture and that a qualified financial institution serve as trustee to protect noteholders' interests.
Los Angeles Business Journal reports on the anticipated increase in bankruptcy filings by hotels in light of the uneven economic recovery and reduction of government support...
Arnold & Porter
The U.S. Court of Appeals for the Second Circuit has issued another decision in the Tribune Company Fraudulent Transfer Litigation,1 partially upholding the U.S. District Court...
Judicial estoppel is an equitable doctrine that allows the courts to use their inherent discretion to prohibit litigants from engaging in fraudulent activities.
The Wall Street Journal reports that the US Senate passed a bill to require lawyers, accountants, consultants and other professionals hired by Puerto Rico in its bankruptcy proceedings to ...
Ropes & Gray LLP
On October 20, 2021, Democratic senators Elizabeth Warren (D-Mass.), Tammy Baldwin (D-Wisc.), Sherrod Brown (D-Ohio), and Jeff Merkley (D-Oregon)...
Husch Blackwell LLP
Pump manufacturer Nash Engineering Company appears to have recently become the latest casualty of asbestos litigation. On October 19, 2021, Nash Engineering filed for Chapter 7 bankruptcy...
The U.S. Bankruptcy Code provides relief to debtors to maximize value for the benefit of their creditors and other stakeholders.
Cadwalader, Wickersham & Taft LLP
In this installment of Cadwalader's Finance Forum Focus Series, Financial Restructuring special counsel Kathryn Borgeson presents a podcast on three of the most important building blocks...
Stevens & Lee
The U.S. House of Representatives Judiciary Committee recently passed legislation that would limit relief available in bankruptcy proceedings.
Reporting from the Wall Street Journal indicates that plaintiffs in price fixing lawsuits against generic drugmaker Teligent Inc. have sought court authority to continue that litigation...
In In re Culligan Ltd., 2021 WL 2787926 (Bankr. S.D.N.Y. July 2, 2021), the U.S. Bankruptcy Court for the Southern District of New York court granted recognition under chapter 15 to the liquidation proceeding of a Bermuda company ...
Despite the absence of any explicit directive in the Bankruptcy Code, it is well understood that a debtor must file a chapter 11 petition in good faith.
In In re Bernard L. Madoff Investment Securities LLC, 12 F.4th 171 (2d Cir. 2021), the U.S. Court of Appeals for the Second Circuit revived litigation filed by the trustee administering the assets of ...
In yet another chapter in the tortured saga of the fallout from the failed 2007 leveraged buyout ("LBO") of media giant The Tribune Co. ("Tribune") in a transaction orchestrated by real-estate mogul Sam Zell, ...
Although the automatic stay contained in section 362 of the Bankruptcy Code theoretically extends worldwide, enforcing it against international creditors, particularly sovereigns, can present practical problems in its application.
Chapter 15 petitions seeking recognition in the United States of foreign bankruptcy proceedings have increased significantly during the more than 16 years since chapter 15 was enacted in 2005.
Courts disagree over whether provisions in a borrower's organizational documents designed to prevent the borrower from filing for bankruptcy are enforceable as a matter of federal public policy or applicable state law.
It is well recognized that, in keeping with the "fresh start" or "rehabilitative" policy, the Bankruptcy Code invalidates after-acquired property clauses in prepetition security agreements, ...
Cadwalader, Wickersham & Taft LLP
In our next installment available on Wednesday, November 17th. Financial Restructuring special counsel Kathryn Borgeson will discuss three of the most important building blocks...