Searching Content indexed under Financial Restructuring by Mayer Brown ordered by Published Date Descending.
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The Council Of The Federal Justice Recommends That Financial Penalties Imposed Under The Clean Company Act (Law No. 12,846/2013) Are Not Transferred To The Purchaser Of Assets In Court-Supervised Reorganization Proceedings
At the III Commercial Law Conference held on June 7, 2019, the Council of the Federal Justice approved Precedent No. 104, according to which there will be no transfer of liabilities regarding
United States
5 Jul 2019
Intercreditor Agreements After Momentive: When A Hindrance Is Not A "Hindrance"
Intercreditor agreements—contracts that lay out the respective rights, obligations and priorities of different classes of creditors...
United States
18 Dec 2018
Detroit, Michigan, Eligible To File Chapter 9 Bankruptcy
On December 5, 2013, Judge Steven Rhodes of the US Bankruptcy Court for the Eastern District of Michigan held that the city of Detroit had satisfied the five expressly delineated eligibility requirements for filing under Chapter 9 of the US Bankruptcy Code and so could proceed with its bankruptcy case.
United States
16 Dec 2013
Nortel/Lehman: A Balancing Act
The Supreme Court handed down its decision yesterday on the combined appeals of Nortel GmbH and Lehman Brothers International against the Pensions Regulator.
United States
30 Jul 2013
Secured Transactions - To Participate Or Not To Participate: A Secured Party’s Question
Economic downturns often oblige secured lenders to become involved actively in the bankruptcy of their borrowers and in related disputes concerning the propriety of the lenders’ secured claims and the treatment of those claims in the borrowers’ reorganization or liquidation.
United States
12 Oct 2012
Supreme Court Upholds Secured Lenders’ Right to Credit Bid in Sale Of Collateral Under Plan of Reorganization
The U.S. Supreme Court has ruled that a secured creditor cannot be denied its right to "credit bid".
United States
31 May 2012
In re KB Toys, Inc.: "Disabilities Attach To And Travel With The Claim"
On May 4, 2012, the Delaware bankruptcy court in "In re KB Toys, Inc., et al. (KB Toys)", handed down a thoughtful decision addressing the issue of whether impairments attach to a claim or remain with its seller.
United States
23 May 2012
Tousa III, Lenders Beware? Eleventh Circuit Upholds Bankruptcy Court’s Original Fraudulent Transfer Decision
On May 15, 2012, the Eleventh Circuit Court of Appeals (the "Circuit Court") issued an opinion in In re TOUSA, Inc., in which it affirmed the original decision of the bankruptcy court and reversed the appellate decision of the district court.
United States
18 May 2012
Lehman Bankruptcy Court Denies Contractual Right To Three-Party Setoff In Bankruptcy
The Bankruptcy Court for the Southern District of New York has held that a cross-affiliate netting provision in an ISDA swap agreement is unenforceable in bankruptcy.
United States
6 Oct 2011
New York District Courts Differ Regarding The Scope Of The Bankruptcy Code’s "Safe Harbors" For Protected Contracts
The District Court for the Southern District of New York recently issued an opinion in Picard v. Katz, et al., (In re Bernard L. Madoff Investment Securities LLC), which limits avoidance actions against a debtor-broker’s customers to those arising under federal law based on actual, rather than constructive, fraud.
United States
6 Oct 2011
US Second Circuit: Gift Plans Impermissible Under Absolute Priority Rule
On February 7, 2011, in a highly anticipated decision, the Second Circuit Court of Appeals held that in Chapter 11 reorganizations, senior creditors may not "gift" recoveries to junior creditors and/or equity interest holders over the objection of an intervening class.
United States
18 Feb 2011
Recent Bankruptcy Decisions Demonstrate Importance of Structuring Considerations in Financings of Public-Private Partnerships
The recent bankruptcy filings by infrastructure companies Connector 2000 Association Inc., South Bay Expressway, L.P., California Transportation Ventures, Inc., and the Las Vegas Monorail Company have tested the structures utilized to implement public-private partnerships (P3s) in the United States in several respects.
United States
31 Aug 2010
Purpose Statements in Engagement Letters Could Prove Costly if not Drafted Appropriately
A recent decision by the US District Court for the Southern District of New York regarding the terms of an engagement letter demonstrates the need to clearly articulate the intended purpose and scope of an engagement.
United States
8 Mar 2010
Viability of Guaranty "Savings Clauses" Questioned by Florida Bankruptcy Court Decision
To promote equal treatment of creditors, the US Congress has armed debtors with the power to bring suit to recover a variety of pre-bankruptcy transfers.
United States
7 Dec 2009
Unsecured Creditors May Claim Post-Petition Attorneys’ Fees
In a decision that will be of great interest to the creditor community, the US Court of Appeals for the Second Circuit held, on November 5, 2009, that the Bankruptcy Code does not bar an unsecured claim for post-petition attorneys' fees that was authorized under a valid prepetition contract.
United States
25 Nov 2009
New York Bankruptcy Court Holds Remote Special Purpose Subsidiaries Eligible as Debtors, Denies Dismissal of SPE Chapter 11 Filings by General Growth Properties
On August 11, 2009, the US Bankruptcy Court for the Southern District of New York denied five motions to dismiss bankruptcy cases filed by certain bankruptcy remote, special purpose subsidiaries (SPEs) of General Growth Properties, Inc. (GGP).
United States
2 Sep 2009
Treasury Department Issues Guidance on Build America Bonds
On April 3, 2009, the Treasury Department released Notice 2009-26, which provides guidance on the “Build America Bond” provisions of the American Recovery and Reinvestment Act of 2009.
United States
16 Apr 2009
SEC Adopts New Rules for Rating Agencies and Proposes Others
On February 2, 2009, the US Securities and Exchange Commission (the "Commission") released new final rules imposing additional requirements on the conduct of nationally recognized statistical rating organizations (NRSROs).
United States
12 Feb 2009
Another Victory For The Mortgage Loan Repo Market
In a decision issued on May 23, 2008, the mortgage loan repo market scored its second important victory in the American Home Mortgage bankruptcy case
United States
7 Jun 2008
Thailand Standardises Laws On Financial Institutions
A new Financial Institutions Business Act B.E. 2551 (the "Act") has been approved by Thailand's National Legislative Assembly, and will become effective on 3 August 2008.
14 May 2008
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