The Sixth Circuit’s recent decision in Digital Media Solutions v. South Univ. of Ohio, 59 F.4th 772 (6th Cir. 2023) provides a cautionary tale about the limitations of federal equity receiverships as a restructuring tool. It...more
8/22/2023
/ Appeals ,
Class Action ,
Corporate Officers ,
Court-Appointed Receivers ,
Creditors ,
Debt Restructuring ,
Directors ,
Nonprofits ,
Quasi In Rem Jurisdiction ,
Receivership ,
Remand ,
Reversal ,
Settlement ,
Subsidiaries ,
Third-Party Release Agrements
A recent U.S. District Court for the District of Delaware opinion, In re TPC Grp. Inc., provided another instance of an uptiering transaction withstanding legal scrutiny and provides further support for the view that courts...more
8/17/2022
/ Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Loans ,
Contract Terms ,
Debt Instruments ,
Legal Opinion ,
Lenders ,
Liens ,
Noteholders ,
Priority Debt ,
Senior Secured Debt ,
Waterfall Provision