Among the many financial innovations that came out of the COVID era, non-pro rata uptier transactions as a liability management exercise (“LMEs”) are among the more controversial. While lawsuits challenging non-pro rata...more
On average, the Supreme Court hears a single bankruptcy case each term. But during the October 2022 term, the Supreme Court issued a remarkable four decisions in bankruptcy cases. These decisions, which are summarized below,...more
7/10/2023
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 13 ,
Debtors ,
Dischargeable Debts ,
MOAC Mall Holdings LLC v Transform Holdco LLC ,
Offering Fraud ,
Puerto Rico Oversight Management and Economic Stability Act (PROMESA) ,
SCOTUS ,
Sovereign Immunity
Businesses in a wide range of industries may now be forced to consider bankruptcy given the unprecedented economic challenges caused by the COVID-19 pandemic. This advisory is designed to provide a high-level view of issues...more
The Supreme Court has granted certiorari to decide the question of whether bankruptcy courts should apply state law or a federal rule of decision when determining whether to recharacterize a debt claim as a capital...more
7/5/2017
/ Bankruptcy Code ,
Bankruptcy Court ,
Capital Expenditures ,
Certiorari ,
Debt-Equity ,
Distressed Debt ,
Equity ,
Federal v State Law Application ,
Investors ,
Lenders ,
PEM Entities LLC v. Levin ,
Recharacterization ,
SCOTUS ,
Split of Authority