On April 21, 2025, Chief Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York issued a memorandum opinion in In re Odebrecht Engenharia e Construção S.A., Case No. 25-10482 (MG), addressing...more
5/15/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Cross-Border ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Third-Party
A recent Bankruptcy Court decision granted recognition to a Mexican concurso mercantile and gave full force and effect to a Mexican concurso plan that contained nonconsensual third-party releases....more
3/17/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Cross-Border ,
Debtors ,
Harrington v Purdue Pharma L P ,
Insolvency ,
Mexico ,
SCOTUS
The U.S. Supreme Court’s decision in Purdue holds that a chapter 11 plan may not release non-debtors from third-party claims unless an affected claimant consents.
On June 27, 2024, the U.S. Supreme Court issued a...more
A recent Bankruptcy Court decision indicates that Rule 2004—a powerful information-gathering tool that has long been utilized by foreign representatives in chapter 15 cases—may also be used by creditors in appropriate...more
Although bankruptcy courts frequently grant chapter 15 recognition to proceedings initiated by Cayman provisional liquidators, recognition is not automatic.
Instead, in considering a petition for recognition of a Cayman...more
The Ninth Circuit became the first circuit-level court to address the correct rate of interest for unimpaired, unsecured creditors of a solvent chapter 11 debtor.
The Ninth Circuit held that the common law “solvent debtor...more
The Third Circuit’s recent decision in In re Orexigen Therapeutics Inc., 990 F.3d 748 (3d Cir. 2021) holds that section 553 of the Bankruptcy Code, which governs creditor setoffs, requires “strict bilateral mutuality.” As a...more
5/11/2021
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Healthcare ,
Insolvency ,
Mutuality ,
Restructuring ,
Section 553 ,
Set Off