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Debtors Restructuring Commercial Bankruptcy

Eversheds Sutherland (US) LLP

US Supreme Court weighs in on insurer rights in bankruptcy

In the ever-evolving landscape of insurance law, a recent decision by the Supreme Court has set a new precedent that could have far-reaching implications for insurers in bankruptcy cases. In the case of Truck...more

White & Case LLP

Navigating Chapter 11 Restructurings in Australia: How Important is Recognition?

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In today's globalised economy, local recognition of foreign insolvency proceedings can be essential for the successful implementation of cross-border restructurings. This is particularly relevant in Australia — a popular host...more

Jones Day

Business Restructuring Review Vol. 23 No. 2 | March–April 2024

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Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the “SICC”) is a division of the General Division of the...more

Mayer Brown

Adler: Court of Appeal sets aside sanction of a Restructuring Plan

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In the first appeal of a restructuring plan under Part 26A Companies Act 2006, the English Court of Appeal unanimously set aside the first instance decision sanctioning the plan proposed by AGPS BondCo PLC, part of the Adler...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan (UPDATE)

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On January 23, 2024, the Court of Appeal in England and Wales (the "Appeal Court") upheld a challenge launched by dissenting creditors to overturn the UK Restructuring Plan (the "RP") of the Adler Group previously approved by...more

Jones Day

Singapore International Commercial Court Issues First Decision on Recognition of Cross-Border Bankruptcy Cases under Model Law

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Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the "SICC") is a division of the General Division of the...more

Pillsbury Winthrop Shaw Pittman LLP

Use It or Lose It! Indemnification Rights May Not Be Asserted against a Post-Confirmation Liquidation Trust

The Fifth Circuit recently held that claims and defenses arising from an indemnification agreement with a debtor could not be asserted against a liquidation trust because the chapter 11 plan barred those claims and defenses,...more

Vinson & Elkins LLP

5th Circuit: Section 363(m) Mootness is Alive and Well

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On February 20, 2024, the United States Court of Appeals for the Fifth Circuit issued an Opinion, which held that challenges to “integral” aspects of a bankruptcy sale are statutorily moot under Bankruptcy Code § 363(m). In...more

King & Spalding

The 2024 UAE Financial Restructuring and Bankruptcy Law: What is New?

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On 31 October 2023, Federal Law Decree No. (51) concerning Financial Restructuring and Bankruptcy (the New Law) was published in the UAE Federal Gazette. The New Law comes into force on 1 May 2024 and will repeal the 2016 Law...more

Mintz - Bankruptcy & Restructuring Viewpoints

FTX: Forcing The Examiner Mandate in the Third Circuit

It is a rare occasion that one can be assured with certainty that, if they file a motion with a bankruptcy court, it will be granted. But, in the Third Circuit, that is exactly what will happen if a creditor or other party in...more

Jones Day

Business Restructuring Review Vol. 23 No. 1 | January-February 2024

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One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the “crypto winter” that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more

Cadwalader, Wickersham & Taft LLP

The Court of Appeal Judgment in the Adler Restructuring Plan: Pari Passu is Back!

On 23 January the Court of Appeal unanimously overturned the High Court’s decision to sanction Adler’s restructuring plan, following a successful challenge from an ad hoc committee of noteholders (the AHG). The judgment is...more

Cadwalader, Wickersham & Taft LLP

The 2023 Restructuring Market Wrap-Up

As 2024 gets underway, 2023 will be remembered as the year that King Charles III’s coronation captured our attention with its many (and occasionally bizarre) storied traditions and customs and, of course, for the passing of...more

Cadwalader, Wickersham & Taft LLP

Comet: The Court of Appeal provides timely guidance regarding unlawful preferences

Overview - The Court of Appeal has overturned the decision of the High Court in Carton-Kelly v Darty Holdings SAS, providing welcome clarity for directors of distressed companies when considering whether to make payments...more

Cadwalader, Wickersham & Taft LLP

Does WeWork’s Going Concern Warning Signal a Potential Bankruptcy Filing?

Three years have passed since the COVID-19 pandemic reached the United States and its effects are still being felt today.  Even though lockdown measures have largely disappeared and many workers have returned to the office,...more

Jones Day

Business Restructuring Review July-August 2023 | Vol. 22 No. 4

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There is longstanding controversy concerning the validity of third-party release provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various nondebtor parties involved in the process of...more

Jones Day

Business Restructuring Review | Vol. 22 No. 1 | January-February 2023

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Lawyer Spotlights: Genna Ghaul and Nicholas J. Morin - The Year in Bankruptcy: 2022 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy...more

Jones Day

Business Restructuring Review Vol. 21, No. 5 | September–October 2022

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Bankruptcy and appellate courts disagree over the standard that should apply to a request for payment of a break-up fee or expense reimbursement to the losing bidder in a sale of the debtor’s assets outside the ordinary...more

Arnall Golden Gregory LLP

Restructuring Roundup - July 2022

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

Kennedys

Bermuda: Restructuring & Insolvency 2022

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1 Overview - 1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions? Bermuda is a self-governing British Overseas Territory. The systems of law administered in...more

Pillsbury Winthrop Shaw Pittman LLP

Profit Motive? Not Required for Subchapter V Eligibility

The Ninth Circuit BAP explains that “commercial or business activities” that satisfy section 1182(1)(A)’s Subchapter V eligibility requirement “would include not-for-profit businesses, and would not be limited to those having...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2022

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

Dechert LLP

Smile Telecoms Restructuring Plan: Court grants convening application excluding “out of the money” creditor and shareholder...

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On 12 January 2022, the English High Court granted Smile Telecoms Holdings Limited’s (“Smile” or the “Company”) application to convene a single meeting of plan creditors (the super senior creditors) to vote on the Company’s...more

Jones Day

Recent Trends in Corporate Debt and Reorganizations: Laying the Groundwork for Future Large Chapter 11 Cases or Just More Runway?

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After commercial Chapter 11 filings soared to their highest levels in more than a decade in 2020, the numbers gradually came back to Earth in the latter part of 2020 and, in 2021, fell well below annual averages. The primary...more

Dechert LLP

European Restructuring Update: France Introduces New Accelerated Safeguard Proceedings

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France has now introduced a new restructuring tool following the enactment of Ordinance 2021- 1193 (the “Ordinance”), which incorporates the Directive (EU) 2019/1023 on preventive restructuring frameworks (the “Directive”)...more

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