News & Analysis as of

Corporate Restructuring Bankruptcy Code Chapter 15

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Issues New Decision on Recognition of Foreign Proceedings Under Chapter 15

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

Jones Day

Business Restructuring Review Vol. 24 No. 1 | January–February 2025

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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

Jones Day

The Year in Bankruptcy: 2024

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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

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

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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

A&O Shearman

Interpreting the UNCITRAL Model Law on Cross-Border Insolvency: Singapore courts adopt a uniform, consistent and expansive...

A&O Shearman on

Creditors involved in cross-border restructuring or insolvency proceedings of corporate groups will find that the approach of the Singapore courts to questions of cross-border insolvency provides the assurance of an orderly...more

Conyers

Key Points: Schemes of Arrangement in the Cayman Islands

Conyers on

What is a scheme? A compromise or arrangement between a company and any class or classes of its creditors (and/or shareholders). The process broadly mirrors an English scheme of arrangement thereby providing legal...more

Jones Day

Business Restructuring Review March–April 2023 | Vol. 22 No. 2

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Chapter 15 Recognition Limited to Foreign Insolvency, Liquidation, or Restructuring Proceedings - In In re Global Cord Blood Corp., 2022 WL 17478530 (Bankr. S.D.N.Y. Dec. 5, 2022), the U.S. Bankruptcy Court for the...more

Jones Day

Business Restructuring Review Vol. 21, No. 6 | November-December 2022

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On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. (“UPC”) must pay a $201 million make-whole premium to noteholders under its confirmed chapter...more

Jones Day

U.S. Bankruptcy Court Can Enforce Foreign Restructuring Plan Providing for Cancellation of U.S. Law-Governed Debt

Jones Day on

Even before chapter 15 of the Bankruptcy Code was enacted in 2005 to govern cross-border bankruptcy proceedings, the enforceability of a foreign court order approving a restructuring plan that modified or discharged U.S....more

Conyers

New Cayman Islands Restructuring Regime: Modern Land and a Modernised Approach

Conyers on

Cayman Islands companies have dominated the restructuring news cycle of late for a variety of reasons, including recent judicial commentary as to the effect of obtaining recognition under Chapter 15 of the U.S. Bankruptcy...more

Jones Day

Business Restructuring Review | November–December 2021

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New York Bankruptcy Court Rules That Good Faith Is Not The Gatekeeper To Chapter 15 - Despite the absence of any explicit directive in the Bankruptcy Code, it is well understood that a debtor must file a chapter 11...more

Blank Rome LLP

Fundamental Procedural Fairness: The Sine Qua Non for the Enforcement of Third-Party Releases Authorized in a Foreign Proceeding

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Third-party releases have perennially been a hot-button issue in U.S. chapter 11 reorganization cases and have resulted in additional scrutiny in the context of chapter 15 cases, where such releases are included in a foreign...more

Jones Day

The Year in Bankruptcy: 2019

Jones Day on

Except for disastrous fires that sparked the largest bankruptcy filing of the year, liabilities arising from the opioid crisis, the fallout from price-fixing, and corporate restructuring shenanigans, economic, market, and...more

Perkins Coie

Why Chinese Companies File Chapter 15 Cases in US Bankruptcy Courts

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Reward Science and Technology Industry Group Co., Ltd. (Reward) joins a growing list of Chinese companies which have chosen to file a case in U.S. Bankruptcy Court in connection with their restructuring efforts under the...more

Jones Day

Business Restructuring Review - September 2019

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Chapter 11 Plan Distributions Are Not Collateral Covered by Intercreditor Agreement's Waterfall Provision - In In re Energy Future Holdings Corp., 2019 WL 2535700 (3d Cir. June 19, 2019), a panel of the U.S. Court of...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Takata's Japanese Bankruptcy Case Survives Public Policy Objection

Dechert LLP on

As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more

Orrick, Herrington & Sutcliffe LLP

Distressed Download

The Distressed Download Newsletter is a roundup of recent news from Orrick's Distressed Download blog, a resource for the latest news and industry trends in the distressed debt and restructuring markets. European...more

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