The Fifth Circuit Court of Appeals has vacated a Securities and Exchange Commission rule that represented one of the most significant changes to regulating private funds and private fund advisers since 2010....more
As you may know, WeWork Inc. and 517 of its affiliates filed Chapter 11 bankruptcy petitions this week. At its height, WeWork was valued at $47 billion, but the company’s Class A Common Stock declined more than 98 percent...more
The United States Court of Appeals for the Second Circuit recently affirmed the 2020 Kirschner v. JP Morgan Chase Bank, N.A. ruling that a secured $1.775 billion syndicated term loan to Millennium Laboratories LLC...more
The Securities and Exchange Commission (SEC) has adopted the most significant changes to regulating private funds and private fund advisors since 2010.
The changes expand the scope of disclosure, reporting and other...more
Earlier this month, the LSTA published a market advisory outlining some recent changes to the disqualified institutions provisions (the “LSTA DQ Structure”) set forth in the LSTA’s Model Credit Agreement Provisions (the...more
Since the last financial crisis, borrowers and private equity sponsors have cut distressed investors out of most European leveraged loan deals. According to Reorg Debt Explained about 66% of European leveraged loans in 2019...more
In a very short time, the COVID-19 pandemic has spread frightening levels of uncertainty all around the world. While many schools, businesses, and houses of worship have closed, the financial markets remain open. ...more
Lessons from Sabine -
In March, Bankruptcy Judge Shelley Chapman held that Sabine Oil & Gas Corp. satisfied the standards for rejection of several gathering and handling agreements between Sabine and its midstream...more
6/13/2016
/ Commercial Bankruptcy ,
Covenants that Run With the Land ,
Creditors ,
Energy Sector ,
Executory Contracts ,
Fraudulent Transfers ,
Husky International Electronics v Ritz ,
Litigation Funding ,
Midstream Contracts ,
Mineral Exploration ,
Offshore Drilling ,
Oil & Gas ,
Pipelines ,
Sabine Oil and Gas ,
SCOTUS
The Distressed Download Newsletter is a roundup of recent news from Orrick's Distressed Download blog, a resource for the latest news and industry trends in the distressed debt and restructuring markets.
European...more
Personal data is a valuable corporate asset. At times, the personal information collected from customers (such as email address, mailing address, phone number, etc.) can be a company’s most valuable asset. Unfortunately,...more
10/20/2015
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Customer Lists ,
Cyber Attacks ,
Cyber Crimes ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Digital Assets ,
Disney ,
Enforcement Actions ,
Facebook ,
Federal Trade Commission (FTC) ,
Google ,
Hackers ,
MySpace ,
Opt-Outs ,
Personal Data ,
Personally Identifiable Information ,
Privacy Policy ,
RadioShack ,
Sale of Assets ,
Snapchat ,
WhatsApp
Recent EU Insolvency Regulation -
The EC Regulations on Insolvency Proceedings (the "EIR") came into force throughout the European Union (the "EU") (except Denmark) on May 31, 2002 with the purpose of setting out the...more
10/7/2015
/ Bankruptcy Code ,
Bernie Madoff ,
Bonds ,
COMI ,
Commercial Bankruptcy ,
Distressed Debt ,
Electricity ,
Environmental Impact Report (EIR) ,
EU ,
High Yield Bonds ,
High-Yield Markets ,
Insolvency ,
Oral Contracts ,
Subordination Agreement ,
UFTA ,
Uniform Voidable Transactions Act (UVTA)
First Circuit Rules Bankruptcy Code Preempts Puerto Rico's Recovery Act -
On Monday, July 6, the Court of Appeals for the First Circuit affirmed the February 6, 2015 order and injunction of the Puerto Rico District...more
7/23/2015
/ Attorney's Fees ,
Bankruptcy Code ,
Bonds ,
Capital Controls ,
Distressed Debt ,
Emerging Markets ,
EU ,
Eurozone ,
Greece ,
Insolvency ,
Municipal Bankruptcy ,
Oil & Gas ,
Preemption ,
Puerto Rico ,
Reclamation ,
Restructuring ,
SCOTUS
A Battle in the Making in the Oil and Gas Sector: Second Lien vs. High Yield Debt -
In the oil and gas industry, there is a storm brewing between holders of second lien debt and unsecured high yield bonds. These...more
6/22/2015
/ Bank of America v. Caulkett ,
Banking Sector ,
Bankruptcy Court ,
Bonds ,
Consumer Bankruptcy ,
Creditors ,
Debt ,
Distressed Debt ,
High-Yield Markets ,
Junior Lenders ,
Junior Liens ,
Lien Stripping ,
Mortgage Lenders ,
Mortgages ,
Oil & Gas ,
Oil Prices ,
Oral Contracts ,
Underwater Homeowners ,
Wellness International Network v Sharif