On May 23, bankruptcy and financial scholars submitted a letter to members of Congress opposing the Financial CHOICE Act’s …
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Recent Developments in Bankruptcy Law, April 2017
By Richard Levin (Jenner & Block LLP) The bankruptcy courts and their appellate courts continue to explore issues of interest …
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The New Bond Workouts
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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
Companies Are Using Covenants to Restructure Their Capital Structure and Prime Existing Debt
By Michael Friedman, Simone Tatsch, and Nicholas Whitney (Chapman and Cutler LLP) As more Companies face liquidity issues and near …
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 …
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Contracting for a European Insolvency Regime
By Horst Eidenmueller (Oxford University) The European Commission has proposed a directive on “preventive restructuring …
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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 …
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