Saudi Arabia's bankruptcy framework has undergone significant modernization in recent years, drawing heavily from the US Bankruptcy Code while incorporating unique features tailored to the Kingdom's regulatory and business...more
6/23/2025
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Liquidation ,
Restructuring ,
Saudi Arabia ,
Trustees ,
United States
On November 27, 2023, the U.S. Court of Appeals for the Second Circuit revived some of a bankruptcy litigation trustee’s fraudulent transfer claims stemming from the leveraged buyout of apparel retailer Nine West. The lawsuit...more
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
2/29/2024
/ Automatic Stay ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Liquidation ,
Moratorium ,
New Legislation ,
Restructuring ,
United Arab Emirates (UAE)
On February 25, 2020, the United States Supreme Court issued a unanimous opinion vacating a decision by the U.S. Court of Appeals for the Tenth Circuit applying federal common law to determine the allocation of a corporate...more
2/28/2020
/ Affiliated-Business Arrangements ,
Appeals ,
Bob Richards Rule ,
Commercial Bankruptcy ,
Consolidated Tax Returns ,
Federal Common Law ,
Federal v State Law Application ,
IRS ,
Jurisdiction ,
Lack of Authority ,
Parent Corporation ,
Remand ,
Rodriguez v Federal Deposit Insurance Corp. ,
SCOTUS ,
State Law Claims ,
Tax Allocation Agreements ,
Tax Refunds ,
Vacated
Party A (contractor) entered into a construction contract (the EPC Contract) with Party B (employer).
Party B made an advance payment under the EPC Contract and Party A procured an Advance Payment Bond (the Bond) from a...more