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Commercial Bankruptcy Statutory Interpretation

Jones Day

Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

Jones Day on

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main...more

King & Spalding

Michigan Bankruptcy Court Finds Commercial Loan Not Usurious Under Michigan’s “Distressing” Framework of Usury Statutes

King & Spalding on

On March 17, 2025, the U.S. Bankruptcy Court for the Eastern District of Michigan denied a borrower’s motion for summary judgment, finding that a secured loan did not violate Michigan’s usury laws. In so holding, the court...more

Jones Day

U.S. Supreme Court Rules that Bankruptcy Code Provides Only Limited Abrogation of Sovereign Immunity to Avoidance Actions

Jones Day on

Bankruptcy trustees and chapter 11 debtors-in-possession ("DIPs") frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more

Proskauer Rose LLP

Slamming the Backdoor on Non-Consensual Third-Party Releases

Proskauer Rose LLP on

Non-Consensual Third-Party Releases are Not Permissible in Section 363 Sales or Rule 9019 Settlements, Regardless of the Suggestions of Some Bankruptcy Courts...more

Jones Day

The Eleventh Circuit Revisits the Doctrine of Statutory Mootness in Bankruptcy Sales

Jones Day on

The finality of sales of assets in bankruptcy is an indispensable feature of U.S. bankruptcy law, designed to maximize the value of a bankruptcy estate as expeditiously as possible for the benefit of all stakeholders....more

Nelson Mullins Riley & Scarborough LLP

Supreme Court to Decide Constitutionality of U.S. Trustee Fees in Chapter 11 Cases

The Supreme Court of the United States granted certiorari on Jan. 10, 2022 in a case arising out of the Circuit City bankruptcy regarding certain additional fees imposed on large Chapter 11 debtors. Most Chapter 11 debtors...more

Gray Reed

Delaware Bankruptcy Court Treats Royalty Owner Claims as Unsecured

Gray Reed on

If you are a royalty owner and have questions about how your claim is likely to be treated when your lessee/operator goes into bankruptcy in Delaware, In re MTE Holdings LLC is a significant case....more

Patterson Belknap Webb & Tyler LLP

Federal Appeals Court Rules on Requirements for Involuntary Bankruptcy

Section 303 of the Bankruptcy Code allows creditors to initiate an involuntary bankruptcy case against a debtor. The petition initiating the case must be filed by creditors holding claims aggregating to at least $10,000, and...more

FordHarrison

Non-Compete News: – Georgia Court Interprets Non-Compete Statute's "Sale-of-a-Business" Provision

FordHarrison on

Georgia’s Restrictive Covenants Act (O.C.G.A. § 13-8-50 et seq.) (“RCA”) governs Georgia non-compete agreements entered into after May 2011. Very few courts have interpreted the RCA since its inception. In Bearoff v. Craton,...more

Stinson LLP

Members and Managers of Arizona LLCs Owe Common Law Fiduciary Duties to the Company

Stinson LLP on

The Arizona Supreme Court held on Tuesday that members and managers of Arizona limited liability companies (LLCs) owe common law fiduciary duties to the company, but that an operating agreement may limit such duties except...more

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