By Mark J. Roe, Harvard Law School The Trust Indenture Act of 1939 bars binding bondholder votes on core payment terms. The …
Continue Reading about Fixing the Trust Indenture Act to Allow Restructuring Votes
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 …
Continue Reading about Seventh Circuit Warns Intervenors Not to Sleep on Their Rights
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 …
Continue Reading about House Passes Financial Institution Bankruptcy Act
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 …
Continue Reading about The Duty to Maximize Value of an Insolvent Enterprise
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 …
Continue Reading about Fair and Unfair Discrimination in Municipal Bankruptcy
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”) …
Continue Reading about Court of Appeals Vacates DIP Financing Order for Lender’s Lack of Good Faith
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 …
Continue Reading about Chapter 22 Roundtable in the WSJ Bankruptcy Beat
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 …
Continue Reading about Derivatives and Collateral: Balancing Remedies and Systemic Risk
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 …
Continue Reading about Update on Directors’ and Officers’ Insurance in Bankruptcy
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 …
Continue Reading about The Article III Problem in Bankruptcy
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, …
Continue Reading about House Advances Bipartisan Financial Institution Bankruptcy Act
Single Point of Entry and the Bankruptcy Alternative
Author: David A. Skeel, Jr., University of Pennsylvania Law School The Dodd-Frank Act requires systemically important financial …
Continue Reading about Single Point of Entry and the Bankruptcy Alternative
Rolling Back the Repo Safe Harbors
Authors: Edward R. Morrison, Mark J. Roe, and Hon. Christopher S. Sontchi Recent decades have seen substantial expansion in …
Federal Antitrust Laws: A New Tool to Prohibit Pre-Petition Coordination Among Creditors?
By Bradley Purcell, Justin Sabin, and Jamila Willis, Bryan Cave LLP In today’s economic climate, restructuring activity is at a …