A recent ruling from the United States Court of Appeals for the Seventh Circuit provides additional comfort for lenders receiving full repayment in connection with leveraged acquisitions. The U.S. Bankruptcy Code gives...more
4/5/2024
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Trustees ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Financial Institutions ,
Lenders ,
Privately Held Corporations ,
Safe Harbors ,
Securities
Since its enactment, aviation related companies have received well over $50 billion in grants and loans under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) that was passed in March 2020. But how do...more
In a much-anticipated decision issued on October 26, the Bankruptcy Court for the Southern District of Texas awarded make-whole premiums and post-petition interest (i.e., interest accruing after the bankruptcy filing) to...more
On September 19, 2019, the U.S. Court of Appeals for the Eighth Circuit affirmed a lower court’s conclusion that a purchaser at a private foreclosure sale has no successor liability to a debtor’s unpaid...more
Significant Changes to FERC’s Rules for Market-Based Rate Sellers -
On July 18, 2019, the Federal Energy Regulatory Commission (“FERC”) issued two orders modifying its rules for sellers to obtain or retain authorization...more
Choose Your Own Adventure: Farmouts of International Oil & Gas Interests and the AIPN 2019 Model Form -
When I teach about the Association of International Petroleum Negotiator’s (AIPN) Model International Farmout...more
7/17/2019
/ Assignments ,
Chapter 11 ,
Clean Energy ,
Commercial Bankruptcy ,
Default ,
Energy Sector ,
Liquid Natural Gas ,
Mexico ,
Natural Gas ,
Oil & Gas ,
Opportunity Zones ,
Post-Petition Interest ,
Renewable Energy ,
Secured Debt
On June 14, 2019, the U.S. Court of Appeals for the Fifth Circuit issued an opinion affirming bankruptcy and district court decisions finding that, under the terms of the confirmed Chapter 11 bankruptcy plan, the debtor’s...more
On June 19, 2019, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued a decision concerning the distribution of collateral under an intercreditor agreement—finding that adequate protection payments and plan...more
On May 20, 2019, the U.S. Supreme Court held that rejection of a trademark license does not automatically terminate the licensee’s right to use the trademark, settling a decades-old question at the intersection of...more
5/22/2019
/ Bankruptcy Appellate Panel (BAP) ,
Bankruptcy Code ,
Breach of Contract ,
Commercial Bankruptcy ,
Debtors ,
Exclusions ,
Executory Contracts ,
IP License ,
Mission Product Holdings Inc v Tempnology LLC ,
Rescission ,
Reversal ,
SCOTUS ,
Section 365 ,
Split of Authority ,
Trademark Licenses ,
Trademarks ,
Trustees
Over the Horizon: The rise and fall of nuclear new build in the United Kingdom -
September 2016 was supposed to herald the dawn of a new era for the nuclear power industry in the United Kingdom. The UK Government had...more
On January 29th, PG&E Corporation and its regulated utility subsidiary, Pacific Gas and Electricity Company (collectively, “PG&E”), commenced bankruptcy cases in the Bankruptcy Court for the Northern District of California....more
On January 17, 2019, the U.S. Court of Appeals for the Fifth Circuit delivered a much-awaited opinion with respect to whether Ultra Petroleum Corporation (“UPC”) was required to pay its noteholders contractual make-whole...more
The U.S. Court of Appeals for the Eleventh Circuit Court upheld a bankruptcy court’s order retaining supervisory authority over Jefferson County, Alabama’s sewer rates for the next forty years. Extending a line of cases...more
On May 22, 2018, the U.S. Court of Appeals for the Fifth Circuit (the “Court”) upheld a bankruptcy court’s ruling that a shareholder could exercise the right granted to it in the debtor’s organizational documents to block a...more
Bankruptcy Court Determines Standard for Enforcing Non-Consensual Third-Party Releases in a Chapter 15 Case Differs From Applicable Standard in Chapter 11 Cases -
On April 9, 2018, in In re Avanti Communcs. Group Plc,...more
On October 20, 2017, the U.S. Court of Appeals for the Second Circuit delivered a victory for secured lenders by remanding the District Court’s order confirming the Debtors’ proposed plan to determine whether an efficient...more
On January 27, 2017, the United States District Court for the Southern District of New York ruled that the subordinated creditor was entitled to payment of post-petition interest prior to repayment of the senior lender’s...more
On November 17, the U.S. Court of Appeals for the Third Circuit (the “Court”) made clear its stance on the question of enforceability of make-whole provisions in bankruptcy. Bucking the recent trend seen in cases such as In...more
On May 11, 2016, the Delaware bankruptcy court issued an opinion in the RadioShack bankruptcy case addressing an intercreditor dispute between Salus Capital Partners, LLC, the “last out” lender in RadioShack’s prepetition...more
7/16/2016
/ Affiliates ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Credit Agreements ,
Debt Restructuring ,
Debtor-Creditor ,
Dismissals ,
Intercreditor Agreements ,
Inventory ,
Lenders ,
Lien Priority ,
Liens ,
Loans ,
RadioShack