By William W. Bratton (University of Pennsylvania Law School) Bond workouts are a dysfunctional method of debt restructuring, …
Out-of-Court Restructurings After Marblegate: Trust Indenture Act Section 316(b) and Beyond
Lawyers from Davis Polk, Drinker Biddle, and Wilmer Hale recently held a panel discussion entitled “Out-of-Court Restructurings …
Puerto Rico Files for Bankruptcy Under PROMESA Title III
By Richard J. Cooper, Luke A. Barefoot, Jessica E. McBride, Daniel J. Soltman, and Antonio Pietrantoni (Cleary Gottlieb Steen …
Continue Reading about Puerto Rico Files for Bankruptcy Under PROMESA Title III
Puerto Rico and the Netherworld of Sovereign Debt Restructuring
By G. Mitu Gulati (Duke Law School) and Robert K. Rasmussen (University of Southern California Gould School of Law) Puerto Rico …
Continue Reading about Puerto Rico and the Netherworld of Sovereign Debt Restructuring
Sovereign Bankruptcy Hydraulics
By Stephen Lubben (Seton Hall University School of Law) The frequent suggestion that the world needs a sovereign bankruptcy …
White House Releases Memorandum on Orderly Liquidation Authority
On April 21, the White House released a memorandum placing a reconsideration of the Dodd-Frank Act’s Orderly Liquidation Authority …
Continue Reading about White House Releases Memorandum on Orderly Liquidation Authority
Jevic: Law Firm Perspectives
On March 22, the Supreme Court decided Czyzewski v. Jevic Holding Corp., holding that bankruptcy courts may not approve structured …
Exit Consents in Debt Restructurings
By Benjamin Liu (University of Auckland Business School) The exit consent technique refers to an offer by a bond issuer to all the …
Bankruptcy Jurisdiction Over Foreign Entities: Exorbitant or Congruent?
By Adrian Walters (Chicago-Kent College of Law, Illinois Institute of Technology) As Oscar Couwenberg and Stephen Lubben have …
Continue Reading about Bankruptcy Jurisdiction Over Foreign Entities: Exorbitant or Congruent?
United States: In GM, Second Circuit Takes a Wrong Turn on Its Treatment of Unknown Claims
By Debra A. Dandeneau (Baker & McKenzie) Elliott v. General Motors LLC (In re Motors Liquidation Co.), 829 F.3d 135 (2d Cir. …
Jevic: SCOTUS Holds That Priority Rules Apply in Structured Dismissals
By Jonathan C. Lipson (Temple University-Beasley School of Law) and Melissa B. Jacoby (University of North Carolina – Chapel Hill …
Continue Reading about Jevic: SCOTUS Holds That Priority Rules Apply in Structured Dismissals
The Role of the Court in Debt Restructuring
By Jennifer Payne (Oxford University) This paper examines the intervention of the law, and the role of the court, in debt …
Continue Reading about The Role of the Court in Debt Restructuring
The Avoidance of Pre-Bankruptcy Transactions: A Comparative and Economic Approach
By Aurelio Gurrea-Martínez (Harvard Law School and Ibero-American Institute for Law and Finance) Most insolvency jurisdictions …
Three Ages of Bankruptcy
By Mark J. Roe (Harvard Law School) During the past century, three decisionmaking systems have arisen to accomplish a bankruptcy …
Gatekeepers Gone Wrong: Reforming the Chapter 9 Eligibility Rules
By Laura N. Coordes (Arizona State University Law School) In order to gain access to chapter 9 bankruptcy, municipalities must …
Continue Reading about Gatekeepers Gone Wrong: Reforming the Chapter 9 Eligibility Rules
Contracting for a European Insolvency Regime
By Horst Eidenmueller (Oxford University) The European Commission has proposed a directive on “preventive restructuring …
Continue Reading about Contracting for a European Insolvency Regime
The Resolution of Distressed Financial Conglomerates
By Howell E. Jackson (Harvard Law School) & Stephanie Massman (Harvard Law School, J.D. 2015) One of the most elegant legal …
Continue Reading about The Resolution of Distressed Financial Conglomerates
The Value of Insolvency Safe Harbors
By Philipp Paech (London School of Economics) “Safe harbor” privileges in insolvency are typically afforded to financial …
Bankruptcy and the U.S. Supreme Court
By Ronald J. Mann (Columbia Law School) The continuing struggle of the United States to emerge from the Great Recession gives …
Continue Reading about Bankruptcy and the U.S. Supreme Court
Fair Equivalents and Market Prices: Bankruptcy Cramdown Interest Rates
By Bruce A. Markell (Northwestern University Law School) Cramdown is the confirmation of a plan of reorganization over the dissent …
Continue Reading about Fair Equivalents and Market Prices: Bankruptcy Cramdown Interest Rates