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Debt Restructuring Creditors

BCLP

Key Lessons from the Collapse of ISG

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The recent collapse of Interior Services Group (ISG), which filed for administration on 20 September 2024, has alarmed the industry. EY has been tasked with managing outstanding projects that Glenigan suggests total over £2.5...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in the Netherlands (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER DUTCH LAW - I. Insolvency proceedings in The Netherlands - There are four law-regulated insolvency proceedings in The Netherlands: bankruptcy...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Mexico (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER MEXICAN LAW - Preface - On 12 May 2000, the Commercial Insolvency Law (the “CIL”) was published in the Federal Official Gazette, and it entered into...more

International Lawyers Network

Bankruptcy, Insolvency & Restructuring Proceedings in Italy (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ITALIAN LAW - 1. Presentation of the judicial liquidation/ insolvency/ rehabilitation proceedings in Italy and their main characteristics. The...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Greece (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER GREEK LAW - Introduction - In the Greek law there are several types of proceedings addressing the inability of a merchant debtor (either a natural...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in France

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER FRENCH LAW - Under French law, companies are protected by several procedures to overcome financial difficulties. This legal protection aims to help...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Finland (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER FINNISH LAW - In Finland, insolvency legislation provides for two distinct statutory processes: bankruptcy and corporate restructuring, each with...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Chile

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER CHILEAN LAW - I- Introduction - Law N° 20.720 on Reorganization and Liquidation (“The Law”) modernized insolvency proceedings in Chile, promoting...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Brazil

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER BRAZILIAN LAW - 1. A brief presentation of the bankruptcy/ insolvency/ rehabilitation proceedings of the country and their main differences. The...more

A&O Shearman

The Italian Code for Business Crisis and Insolvency: spotlight on the latest amendments

A&O Shearman on

On 27 September 2024, the third amendment to the “CCII” —Code for Business Crisis and Insolvency — (the “Amendment”) will be published in the Italian Official Journal, and then, it will enter into force....more

DLA Piper

Third Circuit Court Orders Solvent Debtors to Pay Contract Rate Interest, Make-Whole Fees to Unsecured Creditors

DLA Piper on

Introduction - On September 10, 2024, the US Court of Appeals for the Third Circuit decided in In re Hertz that although make-whole fees are unmatured interest typically disallowed by section 502(b) of the Bankruptcy Code, a...more

White & Case LLP

Ukraine concludes historic restructuring of US$20.5 billion of international bonds

White & Case LLP on

On 3 September, 2024, Ukraine announced that it successfully concluded the restructuring of approximately US$20.5 billion of Ukraine's international bonds and the sovereign-guaranteed debt obligations of the State Agency for...more

Jones Day

Business Restructuring Review Vol. 23 No. 4 | July–August 2024

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more

Jones Day

Circuit Split: Eleventh Circuit and Second Circuit Disagree on Eligibility Requirements for Chapter 15 Debtors

Jones Day on

Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more

Buckingham, Doolittle & Burroughs, LLC

Business Bankruptcy Alternatives

In the middle market, businesses are feeling the financial crunch. Pandemic-era governmental incentives are ending, interest rates are on the rise, and consumer demand for some products is waning. These factors have led to...more

Latham & Watkins LLP

Restructuring Plans and the Price of Dissent

Latham & Watkins LLP on

Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan....more

Mayer Brown

I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

Mayer Brown on

They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Critical Vendor in Texas: It’s a Rodeo

In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more

Harris Beach PLLC

Cannabis Receiverships: Alternative Pathway to Bankruptcy in New York

Harris Beach PLLC on

Many cannabis and cannabis-ancillary businesses that have been navigating this newly legal industry have been financially hammered by the years-long delay in the completion of the New York State legal cannabis supply chain....more

Arnall Golden Gregory LLP

Restructuring Roundup - May 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Hogan Lovells

New York’s revised bill addressing sovereign debt – proposed change to current 9% interest rate

Hogan Lovells on

New York State lawmakers this week proposed a revised champerty and sovereign debt bill (Senate Bill S5623/Assembly Bill A5290) that now includes changes to the current rate of interest provided by the New York Civil Practice...more

White & Case LLP

Credit Bids on the rise in Australia

White & Case LLP on

Investors in the Australian market are more sophisticated than ever and – unsurprisingly – so too are the restructuring transactions being promoted by these investors. One such transaction is the credit bid. While not a...more

White & Case LLP

Schemes of Arrangement in Australia

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A creditors' scheme of arrangement ("Scheme") can be a powerful restructuring tool implemented to achieve a variety of outcomes for a business, ranging from deleveraging or a debt-to-equity conversion to a merger and/or issue...more

Walkers

Cayman Islands Schemes of Arrangement now available for Exempted Limited Partnerships using the Restructuring Officer Regime

Walkers on

A Cayman Islands scheme of arrangement is a court approved compromise or arrangement between a company and its creditors or shareholders (or classes thereof). A scheme of arrangement is frequently used to implement a...more

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