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Liquidation Bankruptcy Code

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in India (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER INDIAN LAW - The Code: Introduction of a comprehensive insolvency and bankruptcy law in India is a recent event, with introduction of the...more

Cadwalader, Wickersham & Taft LLP

“Recapping” and Reconciling Merit Management and Nine West, the Second Circuit Holds That Boston Generating’s 2006...

Until recently, two of the most important cases interpreting the Bankruptcy Code’s “safe harbor” provisions appeared to be in potential tension. First, in the U.S. Supreme Court’s 2018 Merit Management decision, the Supreme...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

Ward and Smith, P.A.

A Primer for Creditors Navigating the Bankruptcy System

Ward and Smith, P.A. on

Bankruptcy filings affect businesses across America. The Bankruptcy Code is complex and difficult to navigate.  But used properly, it can helpcreditors to minimize losses when a customer files bankruptcy. ...more

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

Jones Day on

The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more

Jones Day

Fifth Circuit: Preference Claims Are Property of the Bankruptcy Estate that Can Be Sold

Jones Day on

A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more

King & Spalding

Fifth Circuit Determines that Raymond James Is Subject to Bankruptcy Trust Litigation and Affirmative Defenses Are Not Available

King & Spalding on

Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining...more

Fox Rothschild LLP

Assignments for the Benefit of Creditors – an often-overlooked state law alternative to Chapter 7 bankruptcy

Fox Rothschild LLP on

For some folks the three letters ABC are a reminder of elementary school and singing a song to learn the alphabet. For others, it is a throw back to the early 70’s when the Jackson Five and its lead singer Michael, still...more

Latham & Watkins LLP

Adler: A Spanish Perspective

Latham & Watkins LLP on

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

Jones Day

Florida Bankruptcy Court Substantively Consolidates Debtor and Non-Debtor Entities

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The Bankruptcy Code does not explicitly authorize the equitable remedy of "substantive consolidation"—i.e., treating the assets and liabilities of two or more related entities as if they belonged to a single, consolidated...more

Jones Day

New Fast-Track Liquidation Procedures in the Netherlands

Jones Day on

The Background: On November 15, 2023, the Temporary Fast-Track Liquidation Transparency Act (Tijdelijke Wet Transparantie Turboliquidatie) (the "Act") came into force in the Netherlands, temporarily changing certain statutory...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in India (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER INDIAN LAW - The Code: Introduction of a comprehensive insolvency and bankruptcy law in India is a recent event, with introduction of the Insolvency...more

ArentFox Schiff

Avoiding Collateral Damage: Lessons of Lehman [Part II]

ArentFox Schiff on

In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks to (i) develop...more

Harris Beach PLLC

California Court Ruling Could Potentially Open Up a Pathway to Bankruptcy for Cannabis-Related Businesses

Harris Beach PLLC on

A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more

Holland & Hart LLP

Why Bankruptcy Is A Budding Alternative For Cannabis Cos.

Holland & Hart LLP on

Bankruptcy can be a remarkable tool for rehabilitating a struggling business, preserving jobs and going-concern value, and liquidating the assets of an insolvent company. The drafters of this country's bankruptcy laws...more

Lathrop GPM

Building Nonprofit Resilience: Dealing with Financial Distress

Lathrop GPM on

In this multi-part series, we highlight strategic steps that nonprofits can take to build organizational resilience in three different phases of its life cycle—in times of health, when beginning to experience financial or...more

Fox Rothschild LLP

In re The Hacienda Company, LLC – Round 2: Bankruptcy Courts May be Available to Non-Operating Cannabis Companies to Liquidate...

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As discussed in our earlier blog post, In re The Hacienda Company, LLC – a Flicker of Hope for Distressed Cannabis Companies: Bankruptcy May be Available to Liquidate Assets of Non-Operating Cannabis Companies | In Solvency...more

Jones Day

Liquidating Chapter 11 Plan Confirmed Despite Provision Temporarily Enjoining Litigation Against Corporate Debtors

Jones Day on

To prevent "trafficking in corporate shells," the Bankruptcy Code prohibits any discharge of corporate or partnership debts if the debtor is not an "individual" and, in a chapter 11 case, if the debtor proposes a liquidating...more

Jones Day

Chapter 15 Recognition Order and Relief Could Be Modified After Conversion of Foreign Debtor's Reorganization to Liquidation

Jones Day on

Corporate restructurings are not always successful for many reasons. As a consequence, the bankruptcy and restructuring laws of the United States and many other countries recognize that a failed restructuring may be followed...more

Pillsbury Winthrop Shaw Pittman LLP

Creditors May Take Rule 2004 Examinations in Chapter 15 Cases

A recent Bankruptcy Court decision indicates that Rule 2004—a powerful information-gathering tool that has long been utilized by foreign representatives in chapter 15 cases—may also be used by creditors in appropriate...more

Fuerst Ittleman David & Joseph

Florida’s Insurers Rehabilitation and Liquidation Act: What Happens in Florida When Insurers Become Insolvent

Current state of affairs - Even before Hurricane Ian made landfall and devastated southwest Florida in September 2022, six property & casualty insurers had voluntarily declared themselves insolvent and allowed the State to...more

Jones Day

Second Circuit Weighs In on Bankruptcy Code v. Chapter 11 Plan Impairment and the Solvent-Debtor Exception

Jones Day on

A handful of recent high-profile court rulings have considered whether a chapter 11 debtor is obligated to pay postpetition, pre-effective date interest ("pendency interest") to unsecured creditors to render their claims...more

Patterson Belknap Webb & Tyler LLP

A Primer on Avoidance Actions in the Context of Crypto Bankruptcies

In 2022, there were several high-profile crypto bankruptcy filings.  A big question in these cases is whether there will be any money to satisfy unsecured creditor claims.  If there are funds to distribute, then the...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in India (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER INDIAN LAW - The Code: Introduction of a comprehensive insolvency and bankruptcy law in India is a recent event, with introduction of the...more

Dechert LLP

Recent Bankruptcy Court Ruling Defines Limits of Foreign Proceeding

Dechert LLP on

Judge David S. Jones of the United States Bankruptcy Court for the Southern District of New York (Bankruptcy Court) recently denied Chapter 15 recognition of a Cayman Islands proceeding (Cayman Proceeding) in which the Cayman...more

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