Puerto Rico is facing the most critical fiscal situation in its history. Its public corporations are especially compromised, …
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The Bankruptcy Clause, the Fifth Amendment, and the Limited Rights of Secured Creditors in Bankruptcy
By Charles J. Tabb, University of Illinois College of Law The received wisdom in bankruptcy jurisprudence is that the Fifth …
ISDA Resolution Stay Protocol: A Brief Overview
On November 12, 2014, the International Swaps and Derivatives Association (“ISDA”) officially released the ISDA 2014 Resolution …
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Fixing the Trust Indenture Act to Allow Restructuring Votes
By Mark J. Roe, Harvard Law School The Trust Indenture Act of 1939 bars binding bondholder votes on core payment terms. The …
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SDNY Issues Novel Opinion Holding that Out-of-Court Restructurings May Violate Noteholder Rights Under the Trust Indenture Act
By Alan F. Denenberg, Joseph A. Hall, Michael Kaplan, Jeffrey M. Oakes, Richard D. Truesdell, Jr., and Sarah Ashfaq of Davis Polk …
Bankruptcy Survival
By Lynn M. LoPucki and Joseph W. Doherty, UCLA School of Law Of the large, public companies that seek to remain in business …
Momentive Ruling May Pave the Road for Below-Market “Takeback Paper” Cramdowns of Secured Creditors
By Donald S. Bernstein, Davis Polk & Wardwell LLP In a lengthy and widely discussed bench ruling delivered on August 26, …
Seventh Circuit Warns Intervenors Not to Sleep on Their Rights
By Eric G. Pearson, Foley & Lardner LLP It's an ancient principle of equity, drawn from Roman law: Equity relieves the …
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The Agglomeration of Bankruptcy
By Efraim Benmelech, Nittai Bergman, Anna Milanez, & Vladimir Mukharlyamov In “The Agglomeration of Bankruptcy,” Professor …
House Passes Financial Institution Bankruptcy Act
On December 1, 2014, the House of Representatives passed, with bipartisan support, H.R. 5421—the Financial Institution Bankruptcy …
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The Duty to Maximize Value of an Insolvent Enterprise
By Brad Eric Scheler, Steven Epstein, Robert C. Schwenkel, and Gail Weinsten of Fried, Frank, Harris, Shriver & Jacobson …
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Fair and Unfair Discrimination in Municipal Bankruptcy
By Richard M. Hynes and Steven D. Walt, University of Virginia School of Law Some bankrupt municipalities have proposed plans of …
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Court of Appeals Vacates DIP Financing Order for Lender’s Lack of Good Faith
By Michael L. Cook, Schulte Roth & Zabel LLP The Bankruptcy Code encourages lenders to make debtor-in-possession (“DIP”) …
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Chapter 22 Roundtable in the WSJ Bankruptcy Beat
Last week, the Wall Street Journal’s Bankruptcy Beat posted several pieces on the causes and consequences of so-called “Chapter …
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Derivatives and Collateral: Balancing Remedies and Systemic Risk
By Steven L. Schwarcz, Duke University School of Law Professor Schwarcz examines whether the bankruptcy “safe harbor” for …
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Update on Directors’ and Officers’ Insurance in Bankruptcy
By Douglas K. Mayer, Martin J.E. Arms, and Emil A. Kleinhaus of Wachtell, Lipton, Rosen & Katz D&O insurance policies …
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The Evolution of European Insolvency Law Part 3: The EU Parliament’s Report on the Amendment of the European Insolvency Regulation (EIR)
By Robert Arts and Dr. Björn Laukemann (Maîtr. en droit) After the external evaluation of European Insolvency Law (Part 1) and …
The Article III Problem in Bankruptcy
By Anthony J. Casey and Aziz Z. Huq, University of Chicago Law School The Supreme Court has struggled for the last three …
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A New Risk to Bankruptcy Sales – Unwinding of the Sale Due to a Bad Faith Filing
Authors: Lenard M. Parkins and Karl D. Burrer of Haynes and Boone, LLP Recently, the Eleventh Circuit rendered its decision in …
House Advances Bipartisan Financial Institution Bankruptcy Act
By Stephen D. Adams, Editor, HLS Bankruptcy Roundtable On September 10, 2014, the House Judiciary Committee approved H.R. 5421, …
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