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Debtors Creditors Reorganizations

Fox Rothschild LLP

The Impact of Purdue Pharma

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It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Venable LLP

The Evolving Status of Settlement Bar Orders after Purdue

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Following the U.S. Supreme Court’s ruling in Harrington, United States Trustee, Region 2 v. Purdue Pharma L.P, et al., which disallowed non-consensual third-party releases in Chapter 11 plans of reorganizations, bankruptcy...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Paul Hastings LLP

The Legal 500’s Restructuring & Insolvency Comparative Guide

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Our London Financial Restructuring team authored the UK chapter of the 8th Edition of The Legal 500’s “Restructuring & Insolvency Comparative Guide". The guide provides information on the current issues affecting...more

Mayer Brown

I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

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They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Critical Vendor in Texas: It’s a Rodeo

In Chapter 11 cases, one of a vendor’s best shots at getting paid its pre-petition debt is being designated as a “critical vendor”....more

Epstein Becker & Green

A Day for Specialists - SCOTUS Today

Another Three-for Thursday at the Supreme Court, with none of the decisions a landmark but each of utmost relevance to legal specialists and technicians in the fields of bankruptcy, estate taxation, and Indian affairs....more

Ward and Smith, P.A.

Can I Require a "True Up" in a Subchapter V Plan of Reorganization?

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For creditors, it can be difficult to navigate the financial difficulties of your customers. It seems like it would only get worse in bankruptcy, but that is not always the case.  Subchapter V of Chapter 11 of the Bankruptcy...more

Patterson Belknap Webb & Tyler LLP

Popularity of Subchapter V Bankruptcy Filings

In 2019, Congress enacted the Small Business Reorganization Act, which created subchapter V within chapter 11 of the Bankruptcy Code. Congress’ intent was to create a more cost-efficient and streamlined restructuring process...more

Seward & Kissel LLP

Customer is Always Right, Setting the Bar, and Flipping Bird

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FTX Files Reorganization Plan to End Bankruptcy, Repay Creditors| CoinDesk - On Saturday, the collapsed crypto exchange FTX submitted a reorganization plan which included plans to repay up to 90 percent of creditors’...more

International Lawyers Network

Bankruptcy Proceedings in the United States (Updated)

Bankruptcy Proceedings in the United States - General Overview of the Primary Protection Granted to a Debtor Under the United States Bankruptcy Code - The United States Bankruptcy Code, through its various chapters,...more

Jones Day

Double-Dip Financings: The Next Wave in European Liability Management?

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A “double-dip” structure is considered a way to allow some creditors to have multiple claims against key obligors arising out of the same underlying transactions. These additional claims could improve their position relative...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Thailand (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER THAI LAW - Introduction - The law of Thailand regarding insolvency, bankruptcy and rehabilitation proceeding are stipulated and applied through Thai...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Slovakia (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER SLOVAKIAN LAW - We present here the following answers to the questions mentioned in the ILN Restructuring & Insolvency Collaborative Paper which reflect...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Romania (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ROMANIAN LAW - 1. A brief presentation of the bankruptcy/insolvency/rehabilitation proceedings of the country and their main differences....more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Portugal (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER PORTUGUESE LAW - I.INTRODUCTION – KEY ASPECTS OF PORTUGUESE LAW - DEFINITION OF INSOLVENCY AND LEGAL FRAMEWORK - Insolvency proceedings consist of...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in the Netherlands (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER DUTCH LAW - I. Insolvency proceedings in The Netherlands There are four law-regulated insolvency proceedings in The Netherlands: bankruptcy...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Mexico (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER MEXICAN LAW - Preface - On 12 May 2000, the Commercial Insolvency Law (the “CIL”) was published in the Federal Official Gazette, and it entered into...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Finland

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER FINNISH LAW - Corporate restructuring in Finland - Insolvency legislation in Finland providesfor two alternative statutory processes: bankruptcy and...more

Rivkin Radler LLP

Creditors Committee’s Request to Sue Diocese Insurers Denied

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Recently, a bankruptcy judge denied a request by a creditors’ committee to sue the insurers of the Roman Catholic Diocese of Rockville Centre (the “Debtor”). The judge found that the Official Committee of Unsecured...more

Shumaker, Loop & Kendrick, LLP

Purdue Pharma Third Party Releases: A Bitter Pill To Swallow - Eurofenix, Autumn 2023

David Conaway reports on a recent Chapter 11 plan of reorganization submitted by Purdue Pharma (Oxycontin) to resolve a mass tort claim. The Supreme Court of the United States (SCOTUS) is having difficulty swallowing the...more

Katten Muchin Rosenman LLP

English Law Creditors Bound by Irish Scheme of Arrangement

In a radical departure from settled case law, the English High Court has eroded the protections of English law creditors guaranteed by the Rule in Gibbs....more

Polsinelli

Voting in the Celsius Bankruptcy Case

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As we have been discussing in prior updates, the bankruptcy case of Celsius Network LLC is reaching an important milestone as most creditors now have the ability to vote on the Plan of Reorganization proposed by the Debtors...more

Polsinelli

Celsius Debtors Obtain Approval to Solicit Votes on Disclosure Statement for Joint Plan of Reorganization

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In a major step forward for the reorganization of Celsius Network LLC and its affiliated debtors (the "Debtors"), the United States Bankruptcy Court for the Southern District of New York approved the adequacy of the Debtors’...more

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