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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Recharacterization of Debt as Equity in the Fourth Circuit
By Gabrielle Glemann (Hughes Hubbard & Reed) In an unpublished opinion in August, In re Province Grande Old Liberty, LLC, Case …
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Beyond Options
By Anthony J. Casey (University of Chicago Law School) and Edward R. Morrison (Columbia Law School) Scholars and policymakers now …
Senator Reed Introduces Study Bill to Assess Systemic Risk Impact of “Bankruptcy-for-Banks” Reforms
On December 6, Senator Jack Reed introduced a bill aimed at establishing a more informed basis for regulatory and policymaking …
Federal District Court Reinstates Fraudulent Transfer Challenge to Lyondell LBO
By Richard G. Mason, David A. Katz, and Emil A. Kleinhaus (Wachtell, Lipton, Rosen & Katz) In situations where leveraged …
Awaiting the Second Circuit’s Decision in Marblegate
We anxiously await the Second Circuit's decision in Marblegate, which was argued earlier this year. John Bessonette of Kramer …
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Too Big and Unable to Fail
By Stephen J. Lubben (Seton Hall University School of Law) and Arthur E. Wilmarth, Jr. (George Washington University Law …
Falling Cities and the Red Queen Phenomenon
By Samir D. Parikh (Lewis and Clark Law School) and Zhaochen He (Lewis and Clark College) Cities and counties are failing. …
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Municipal Borrowing Costs and State Policies for Distressed Municipalities
By Pengjie Gao (University of Notre Dame), Chang Lee (University of Illinois at Chicago), and Dermot Murphy (University of …
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The Dubai World Tribunal and the Global Insolvency Crisis
By Jayanth Krishnan (Indiana—Bloomington) In 2009, as markets from the United States to Europe to the Global South shook, one …
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FTI Roundup
The Seventh Circuit held last July in FTI Consulting, Inc. v. Merit Management Group, LP, 2016 BL 243677 (7th Cir. July 28, 2016), …