The contraction of the market for special purpose acquisition companies (SPACs) and the recent challenges de-SPACed companies have encountered have attracted considerable press attention. The stocks of many de-SPACed...more
4/24/2023
/ Acquisitions ,
Bankruptcy Code ,
Capital Markets ,
Chapter 11 ,
Chapter 7 ,
Corporate Restructuring ,
Initial Public Offering (IPO) ,
Investors ,
Mergers ,
Popular ,
Publicly-Traded Companies ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs)
This edition of Skadden’s quarterly Insights looks at the rising number of de-SPACed companies seeking Chapter 11 protection, the growth of a market designed to assume legacy liabilities, an effort to establish...more
4/20/2023
/ Acquisitions ,
Antitrust Division ,
Artificial Intelligence ,
Banking Sector ,
Capital Markets ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Governance ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Energy Tax Incentives ,
Federal Trade Commission (FTC) ,
Holding Companies ,
Inflation Reduction Act (IRA) ,
Innovative Technology ,
Intellectual Property Protection ,
Inventions ,
Liability ,
Mergers ,
Patents ,
Self-Disclosure Requirements ,
Special Purpose Acquisition Companies (SPACs) ,
Tax Credits
Takeaways - Pipeline companies have opposed efforts by oil and gas producers to reject midstream gathering agreements in bankruptcy, claiming that the exclusive “dedication” provisions in such agreements “run with the land”...more
Takeaways - Loan agreement provisions allowing borrowers to repurchase their loans to take advantage of steep debt discounts and restructure their debt became popular in the wake of the financial crisis. The meaning of some...more
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 a May 4, 2015, decision, the U.S. District Court for the Southern District of New York rejected secured lenders’ appeals of a controversial bankruptcy court decision confirming the Chapter 11 plan of reorganization of MPM...more
Despite lower-than-average Chapter 11 activity in 2014, the legal landscape for distressed investors has continued to evolve, with significant legal developments in credit bidding, make-whole premiums and intercreditor...more