Searching Content indexed under Insolvency/Bankruptcy/Re-structuring by McDermott Will & Emery ordered by Published Date Descending.
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Clear As Mud: Defined Benefit Plan Liability With Facility Sales, Restructurings And Cessations
In certain cases of a facility sale, restructuring or cessation, recently released information by the Pension Benefit Guaranty Corporation (PBGC)
United States
14 Jan 2019
Burden Is On Trustee To Show Insolvency At Time Of Transfer
The US Court of Appeals for the 11th Circuit affirmed the district court's dismissal of a fraudulent conveyance claim for a "blocking right"and right of first refusal under a patent transfer agreement
United States
4 Dec 2018
New Decision Affects D&O Liability
The case involved claims of negligence and breach of fiduciary duty by members of the board and management team of a not-for-profit hospital, filed by the hospital's liquidating trust.
United States
29 Aug 2018
Brexit And The UK Insolvency Regime
The UK financial sector thrives on confidence, underpinned by a well-developed and respected legal system. Brexit has knocked global confidence in the UK market, but businesses can still rely on the predictability of the English law system.
13 Dec 2017
New IRS Rulings Should Provide Greater Certainty For Corporate Restructurings
On May 5, 2015, the Internal Revenue Service issued two long-awaited rulings, Rev. Rul. 2015-09 and Rev. Rul. 2015-10, that should ease the lives of corporate tax planners.
United States
12 May 2015
Bankruptcy Courts Fail To Enlighten On Electricity As Goods Or Services
Is electricity goods or services? That seemingly simple yet confounding question is illustrated by three recent bankruptcy cases.
United States
24 Oct 2014
Ninth Circuit Affirms Plaintiff’s Lack Of Standing For Failure To List Copyright As Bankruptcy Asset
The Ninth Circuit affirmed a grant of summary judgment in favor of the defendants in a copyright suit on the grounds that the plaintiff lacked standing.
United States
10 Jun 2014
Inside M&A - Summer 2013
Inside M&A - Summer 2013
United States
26 Jul 2013
Using The Bankruptcy Code 'Safe Harbors'
Chapter 11 bankruptcy cases can be both fraught with peril and rich in opportunity.
United States
22 Jul 2013
The Strategy Of Acquiring Distressed Assets By Purchasing Secured Claims Is Aided By A Recent Supreme Court Opinion
In a recent opinion, the Supreme Court unanimously affirmed a secured lender’s right to credit-bid at a bankruptcy sale of assets encumbered by such lender’s liens.
United States
7 Aug 2012
U.S. Supreme Court Enforces Secured Creditor’s Right To Credit Bid
The Supreme Court of the United States issued a landmark decision protecting a secured creditor's right to credit bid when a debtor tries to sell its property free and clear of its liens.
United States
9 Jun 2012
The Top Five Traps In Distressed M&A Transactions
As a result of the contraction of the capital markets, it has become increasingly difficult for distressed corporate borrowers to refinance their existing debt facilities, recapitalize their businesses or even obtain the debtor-in-possession financing necessary to reorganize through bankruptcy.
United States
10 Oct 2011
Third Circuit Holds That A Portion Of Post-Petition Withdrawal Liability In Bankruptcy Is Entitled To Priority Over General Unsecured Claims
Recently, the Third Circuit held that withdrawal liability triggered after a bankruptcy filing date may be apportioned to pre- and post-petition service for the debtor, and that the withdrawal liability attributable to post-petition service may be entitled to priority over general unsecured claims under the Bankruptcy Code.
United States
9 Oct 2011
ION Media: Developments in Intercreditor Disputes
With the flood of debt-heavy capital structures created over the past decade, bankruptcy courts have been left to clean up the remnants of many failed transactions.
United States
10 Jan 2011
California Court Clarifies Directors' Duties When A Corporation Is Insolvent Or In The Zone Of Insolvency
On October 29, 2009, the California Court of Appeal, Sixth District, in Berg & Berg Enterprises, LLC v. Boyle, et al., unequivocally ruled that, under California law, directors of either an insolvent corporation or a corporation in the more elusively defined "zone of insolvency" do not owe a fiduciary duty of care or loyalty to creditors.
United States
2 Mar 2010
In Re Philadelphia Newspapers: Potential Ramifications For Secured Lenders In Debt Restructurings
The Eastern District of Pennsylvania held that secured creditors do not have a right to credit bid their claim when the sale of a debtor's assets is conducted under a plan of reorganization.
United States
8 Dec 2009
In Re TOUSA, Inc.: Implications For Solvency Opinion Providers
The bankruptcy court's opinion exemplifies the second guessing that can confront solvency opinion providers and highlights issues that providers should carefully vet with experienced legal counsel
United States
4 Nov 2009
Second Circuit Reverses Bankruptcy Court´s Decision On PBGC Termination Premiums
Companies that terminate pension plans before filing for bankruptcy may no longer escape paying significant claims to the PBGC.
United States
23 Apr 2009
Bankruptcy Court: Parties May Not Contract Around Mutuality Requirement To Circumvent Prohibition Against Triangular Setoffs
The decision in In re SemCrude, L.P., et al. prohibiting parties from contracting around Bankruptcy Code section 553's mutuality requirement may disrupt customary business practices, including those widely used in the energy, natural gas and crude oil markets, because it rules that contracting for cross affiliate netting does not "create" the mutuality required for setoff.
United States
28 Jan 2009
Dealing With Financially Distressed Purchasers Of Goods
Sellers should be proactive in taking steps to protect themselves from a distressed buyers non-payment.
United States
26 Nov 2008
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