Findings from Gibbins’ Annual Healthcare Bankruptcy Report
Spotlight on Financial Services- Consumer bankruptcy
Commercial Recovery
SDNY Chooses “Time Approach” to Calculating Lease Termination Damages Collectible Against a Bankrupt Estate
Cannabis and Bankruptcy Laws
The New Value Defense
The “Catch-22” of Preference Law
Consensual Third-Party Releases
Breaking Down the Latest Decision in the Purdue Pharma Case
AGG Talks: U.S. Bankruptcy Basics for Foreign Investors
Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]
The Evolution of Cross-Border Restructuring Processes
Blakes Continuity Podcast: What to Expect When Insolvency Crosses the Border
ADR's Big Moment
Bankruptcy Basics and Recent Developments
Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect...more
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
A recent Bankruptcy Court decision granted recognition to a Mexican concurso mercantile and gave full force and effect to a Mexican concurso plan that contained nonconsensual third-party releases....more
The U.S. bankruptcy court in New York recently issued an important decision under Chapter 15 of the U.S. Bankruptcy Code concerning the restructuring of U.S. law governed debt in a foreign insolvency proceeding. In re Mega...more
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
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
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
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
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
The restructuring landscape in 2024 demonstrated dynamic shifts, with courts across jurisdictions issuing pivotal rulings that helped reshape bankruptcy law....more
Chapter 15 of the Bankruptcy Code (which is based upon the UNCITRAL Model Law on Cross-Border Insolvency) is designed to facilitate cross-border cooperation and coordination among courts during a pending bankruptcy or...more
Chapter 15 of the United States Bankruptcy Code, enacted in 2005, was intended to govern all aspects of cross-border bankruptcy and insolvency proceedings. The framers of Chapter 15 were desirous of providing a practical and...more
Several cases this year have demonstrated the continuing trend of U.S. courts’ respect toward foreign insolvency proceedings. Recent decisions from the Third and Eleventh Circuits, Southern District of New York and other...more
U.S. Bankruptcy Court does not enforce an asset freeze order from a Brazilian insolvency proceeding recognized under chapter 15 of the Bankruptcy Code. Recognition of a foreign proceeding under chapter 15 of the Bankruptcy...more
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
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
The U.S. Supreme Court’s decision in Purdue holds that a chapter 11 plan may not release non-debtors from third-party claims unless an affected claimant consents. On June 27, 2024, the U.S. Supreme Court issued a...more
In the Eleventh Circuit (In re Al Zawawi), section 109(a)’s debtor eligibility requirements do not apply to chapter 15 cases, reinforcing a split between the Second and Eleventh Circuits. The Eleventh Circuit held that...more
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
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
"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
To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. § 109(a). In cross border chapter 15 cases, courts have considered whether...more