On March 11, 2025, the Committee to Enhance Singapore's Corporate Restructuring and Insolvency Regime (the "Committee") published a report (the "Report") outlining its recommendations to further enhance and modernize...more
Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more
3/28/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Foreign Bankruptcies ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Settlement Agreements
"Comity" is a principle of jurisprudence whereby, under appropriate circumstances, one country recognizes within its borders the legislative, executive, or judicial acts of another nation. Many recent court rulings have...more
3/25/2025
/ Bankruptcy Court ,
Breach of Contract ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Dispute Resolution ,
Foreign Bankruptcies ,
Foreign Jurisdictions ,
Insolvency ,
Jurisdiction ,
Litigation Strategies ,
New Jersey ,
Singapore
The Year in Bankruptcy: 2024 -
A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more
2/4/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Restructuring
The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in...more
2/4/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Federal Rules of Bankruptcy Procedure ,
SCOTUS ,
Standing
The expansion of global commerce in recent years has been accompanied by a significant increase in the volume of cross-border bankruptcy cases. Many of those cases involve "recognition" of foreign bankruptcy or insolvency...more
2/3/2025
/ Asset Freeze ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Veil ,
Foreign Bankruptcies ,
Insolvency ,
Jurisdiction ,
Public Policy ,
Reorganizations
It is generally well understood that an order of a U.S. bankruptcy court recognizing a debtor's foreign bankruptcy case as a "main" proceeding under chapter 15 of the Bankruptcy Code triggers the automatic stay preventing...more
1/31/2025
/ Adversary Proceedings ,
Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Creditors ,
Cross-Border Transactions ,
Debtors ,
Foreign Bankruptcies ,
Insolvency ,
Reorganizations
It is generally recognized that an order of a U.S. bankruptcy court recognizing a debtor's foreign bankruptcy proceeding as a "main" proceeding under chapter 15 of the Bankruptcy Code triggers the automatic stay preventing...more
Hertz: Third Circuit Weighs In On Make-Whole Premiums And The “Solvent-debtor Exception” In Chapter 11 Cases -
A handful of recent high-profile court rulings have considered whether a chapter 11 debtor is obligated to pay...more
12/18/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Cramdown ,
Creditors ,
Debt Instruments ,
Debtors ,
Financial Solvency ,
Hertz ,
Make-Whole Premium ,
Proof of Claims ,
Securities Contracts ,
Setoff Rights
Section 546(e) of the Bankruptcy Code's "safe harbor" provision (which shields transactions from avoidance claims in bankruptcy of certain securities, commodity, or forward-contract payments) has long been a magnet for...more
Four UK companies within the Cineworld Group ("Cineworld") have obtained court sanction to an English-law Part 26A restructuring plan ("RP"). Cineworld became financially distressed following a prolonged period of poor...more
The Singapore International Commercial Court (the "SICC"), a division of the General Division of the High Court and part of the Supreme Court of Singapore, was established in 2015 as a trusted neutral forum to meet increasing...more
The Singapore International Commercial Court (the "SICC"), a division of the General Division of the High Court and part of the Supreme Court of Singapore, was established in 2015 as a trusted neutral forum to meet increasing...more
9/27/2024
/ Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Foreign Corporations ,
Insolvency ,
Restructuring ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Singapore ,
Singapore International Commercial Court ,
UNCITRAL
As the enactment of chapter 15 of the Bankruptcy Code approaches its 20-year anniversary, U.S. bankruptcy courts are still grappling with some unresolved issues concerning how its provisions should be applied to best...more
he number of complex cross-border restructurings continues to rise as the various economies of the world become more integrated. A growing contingent of countries has enacted sophisticated restructuring regimes or refined...more
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
8/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Trustees ,
U.S. Treasury
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
The U.S. Supreme Court handed down three bankruptcy rulings to finish the Term ended in July 2024. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance...more
8/1/2024
/ Article III ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
SCOTUS ,
Standing
In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more
6/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Estate Claims ,
FDIC ,
Mootness
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
6/5/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Chapter 9 ,
Commercial Bankruptcy ,
Debtors ,
FDIC ,
Foreign Bankruptcies ,
Foreign Banks ,
International Banks ,
Liquidation ,
Silicon Valley
"Comity" is a principle of jurisprudence whereby, under appropriate circumstances, one country recognizes within its borders the legislative, executive, or judicial acts of another nation. Many recent court rulings have...more
Determining a foreign debtor's "center of main interests" ("COMI") for purposes of recognizing a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code can be problematic in cases...more
Following the seminal Adler judgment, the English Court has now ruled on a further two contested restructuring plans ("RPs"). These two judgments provide important commentary relevant to all parties considering or affected by...more
Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the “SICC”) is a division of the General Division of the...more
3/29/2024
/ Arbitration ,
Arbitration Agreements ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Disclosure Requirements ,
Federal Rules of Bankruptcy Procedure ,
Restructuring