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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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 …
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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 …
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Language Matters: Third Circuit Finds Make-Whole Provision Enforceable After Bankruptcy Filing
By Craig A. Barbarosh, Karen B. Dine, Jerry L. Hall, and Margaret J. McQuade (Katten Muchin Rosenman LLP) In November 2016, the …
Bankruptcy’s Endowment Effect
By Anthony J. Casey (University of Chicago Law School) The notion of endowments and entitlements has a powerful effect on …
Second Circuit Rules on § 316(b) in Marblegate
Last week, the Second Circuit decided Marblegate Asset Management, LLC v. Education Management Corp., holding that § 316(b) of the …
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The Future of UK Debt Restructuring
By Jennifer Payne (University of Oxford - Faculty of Law) In the UK, a number of different mechanisms exist which can be used to …
The Sun Is Setting: Is It Time to Legislate Pre-Packs?
By John Wood (Lancashire Law School, University of Central Lancashire) In the UK, pre-packaged administrations (“pre-packs”), …
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