Manipulation of “center of main interest” to secure UK bankruptcy venue does not bar chapter 15 recognition so long as creditors are not disadvantaged. On February 24, 2025, U.S. Bankruptcy Judge Michael E. Wiles granted...more
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
7/31/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Counsel ,
Creditors ,
Debtors ,
Enforcement ,
Liquidity ,
New York ,
Popular ,
Reorganizations
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
3/19/2024
/ Beneficiaries ,
Bondholders ,
Bonds ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Indemnification ,
Insolvency ,
Liquidation ,
Restructuring ,
Trusts
In rejecting an incidental beneficiary’s cure claim, the Second Circuit reasoned that affording a non-party administrative priority “would let it cut the line and stand in front of even secured creditors in exchange for...more
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
Reorganization plans providing for non-debtor releases (i.e., releasing non-debtors from claims by creditors of the debtor) have been regularly challenged in recent years, frequently by the United States Trustee and other...more