A series of decisions over the past year — on issues such as make-whole premiums, intercreditor agreements, backstops for rights offerings and nonconsensual third-party releases — will likely have a significant impact in 2020...more
1/24/2020
/ Appeals ,
Backstop Agreements ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Claim Terms ,
Commercial Bankruptcy ,
Complex Corporate Transactions ,
Constitutional Challenges ,
Contested Proceedings ,
Contract Terms ,
Corporate Restructuring ,
Creditors ,
Debt Securities ,
Debtors ,
Equity Securities ,
Impaired Creditor ,
Intercreditor Agreements ,
Junior Lenders ,
Make-Whole Premium ,
Non-Consensual Rights ,
Oil & Gas ,
Post-Petition Interest ,
Proof of Claims ,
Remand ,
Reversal ,
Shareholders ,
Subordinated Debt ,
Third-Party Release Agrements ,
Unimpaired Creditors ,
Unsecured Debt
On February 25, 2019, the U.S. Court of Appeals for the Second Circuit vacated the bankruptcy court’s dismissal of avoidance actions brought by Irving Picard, the trustee (Trustee) for the liquidation of Bernard L. Madoff...more
3/9/2019
/ Appeals ,
Avoidance ,
Bankruptcy Code ,
Bankruptcy Court ,
Bernie Madoff ,
Comity ,
Commercial Bankruptcy ,
Debtors ,
Dismissals ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign Jurisdictions ,
Fraudulent Transfers ,
International Litigation ,
Liquidation ,
Ponzi Scheme ,
Split of Authority ,
Trustees ,
Vacated
Since the Delaware Supreme Court held in CML V, LLC v. Bax that creditors of a Delaware LLC lack standing to pursue derivative breach-of-fiduciary-duty claims, even if the LLC is insolvent or near insolvent, bankruptcy courts...more
9/26/2018
/ Bankruptcy Court ,
Breach of Duty ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
DE Supreme Court ,
Debtors ,
Derivative Suit ,
Fiduciary Duty ,
Fraudulent Transfers ,
LLC Act ,
Standing
In U.S. Bank N.A. v. Village at Lakeridge, LLC, the U.S. Supreme Court issued an important decision on standards of appellate review, holding that appellate courts should review a bankruptcy court’s determination of whether a...more
4/25/2018
/ Appeals ,
Appellate Review ,
Arms Length Transactions ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Clear Error Standard ,
Cramdown ,
Creditors ,
De Novo Standard of Review ,
Judicial Deference ,
Non-Statutory Insider Status ,
SCOTUS ,
Standard of Review ,
US Bank National Association v Village at Lakeridge