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Public Policy Bankruptcy Court

Jones Day

Florida Bankruptcy Court Refuses to Recognize Pre-Judgment Asset Freeze Order of Brazilian Bankruptcy Court as Being Manifestly...

Jones Day on

The expansion of global commerce in recent years has been accompanied by a significant increase in the volume of cross-border bankruptcy cases. Many of those cases involve "recognition" of foreign bankruptcy or insolvency...more

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

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Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Pillsbury Winthrop Shaw Pittman LLP

Fifth Circuit Reaffirms Bankruptcy Court Jurisdiction Over Rejection of FERC-Regulated Offtake Agreement

Public policy concerns associated with contracts impacted by energy industry bankruptcies filed in the Fifth Circuit will be resolved in bankruptcy court mini-trials instead of FERC proceedings. Parties entering energy...more

Jones Day

Another Bankruptcy Court Joins the Debate on the Validity of Bankruptcy Blocking Restrictions

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Courts disagree over whether provisions in a borrower's organizational documents designed to prevent the borrower from filing for bankruptcy are enforceable as a matter of federal public policy or applicable state law. There...more

Arnall Golden Gregory LLP

Restructuring Roundup - October 2021

Industry News - Washington Prime Group Announces Successful Completion of Financial Restructuring...   J&J is using a bankruptcy maneuver to block lawsuits over baby powder cancer claims...more

Mintz - Bankruptcy & Restructuring Viewpoints

Delaware Bankruptcy Court Rules that Shareholder Cannot Enforce “Golden Share” Blocking Right to Dismiss Bankruptcy Filed Without...

As the COVID-19 pandemic continues to disrupt businesses and markets, and companies begin to look to bankruptcy courts for relief from the resulting liquidity and operational distress, the issue of creditor and shareholder...more

Proskauer Rose LLP

The “Golden Share”: All That Glitters Is Not Gold

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A recent, highly anticipated ruling by a Bankruptcy Court in Delaware has reilluminated the concept of a "golden share". While an appeal of the ruling seems likely, this latest ruling by Delaware Bankruptcy Judge Mary F....more

Perkins Coie

Why Chinese Companies File Chapter 15 Cases in US Bankruptcy Courts

Perkins Coie on

Reward Science and Technology Industry Group Co., Ltd. (Reward) joins a growing list of Chinese companies which have chosen to file a case in U.S. Bankruptcy Court in connection with their restructuring efforts under the...more

Patterson Belknap Webb & Tyler LLP

A Bankruptcy Code Chapter 15 Primer: Decision in New York Addresses Key Issues of Jurisdiction, Recognition, Public Policy, and...

Judge Martin Glenn last week issued a decision in two related chapter 15 cases, In re Foreign Econ. Indus. Bank Ltd. “Vneshprombank” Ltd., No. 16-13534, and In re Larisa Markus, No. 19-10096, 2019 Bankr. LEXIS 3203 (Bankr....more

Jones Day

Fifth Circuit Rules That Corporate Charter Provision Requiring Shareholder Consent for Bankruptcy Filing Is Enforceable but...

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In a highly anticipated decision, the U.S. Court of Appeals for the Fifth Circuit recently affirmed a bankruptcy court order dismissing a chapter 11 case filed by a corporation without obtaining—as required by its corporate...more

Hinshaw & Culbertson LLP

Supreme Court of Nevada Holds That Legal Malpractice Claim Was Impermissibly Assigned

Tower Homes, LLC v. Heaton, ___ P.3d ___, 2016 WL 4273578 (Nev. 2016) - Brief Summary - The Supreme Court of Nevada held that a bankruptcy trustee's stipulation and court's order permitting creditors to pursue the...more

BCLP

Bankruptcy Courts Closing In – Will An Agreement Requiring Unanimous Consent To File For Bankruptcy Be Effective?

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We’ve all seen it. The business opportunity looks enticing but is laced with risk about a potential bankruptcy filing down the road. As bankruptcy lawyers we are often asked how deals can be structured to prevent a...more

A&O Shearman

Delaware Bankruptcy Court Invalidates on Public Policy Grounds a “Golden Share” Provision in LLC Agreement Designed to Limit LLC’s...

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In a June 3, 2016 decision, the United States Bankruptcy Court for the District of Delaware (“the Bankruptcy Court”) invalidated, on federal public policy grounds, a provision in the debtor-LLC’s operating agreement that it...more

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