By Benjamin Iverson, Kellogg School of Management at Northwestern University On average, total bankruptcy filings rise by 32% …
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Another Court of Appeals Broadly Reads Settlement Payment Safe Harbor
By Michael L. Cook, Schulte Roth & Zabel LLP The Courts of Appeals, with few exceptions, have broadly read the safe harbor …
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Bankruptcy Law as a Liquidity Provider
Authors: Kenneth Ayotte & David Skeel Since the outset of the recent financial crisis, liquidity problems have been cited as …
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Activist Investors, Distressed Companies, and Value Uncertainty
Authors: Michelle M. Harner, Jamie Marincic Griffin, and Jennifer Ivey-Crickenberger Hedge funds and other private investment …
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“Trade Away!”—Bankruptcy Court for the Southern District of New York Decides That Original Issue Discount From Fair Value Exchanges Is Allowable in Bankruptcy
Authors: Richard L. Wynne and Lance Miller, Jones Day Debt exchanges have long been utilized by distressed companies to address …
Essential Corporate Bankruptcy Law
Authors: Oscar Couwenberg & Stephen J. Lubben In every economy, the question of what to do with financially distressed …
Recent Lessons on Management Compensation at Various States of the Chapter 11
By James H. M. Sprayregen, Christopher T. Greco, and Neal Paul Donnelly, Kirkland & Ellis Setting compensation for senior …
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The Evolution of European Insolvency Law: Part 1: The Heidelberg/Luxembourg/Vienna Report
Authors: Prof. Burkhard Hess (Luxembourg/Heidelberg), Univ.-Prof. Paul Oberhammer (Vienna/London/St. Gallen) and Prof. Thomas …
Second Circuit Limits Availability of Chapter 15
Authors: Jasmine Ball, Richard F. Hahn, M. Natasha Labovitz, George E.B. Maguire, Shannon Rose Selden, My Chi To, Michael E. …
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Preference Recovery: You May Be More Exposed Than You Think
Author: Vicki R. Harding, Pepper Hamilton LLP Imagine a $2 million property that secures a $1.75 million senior loan and a …
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Breaking Bankruptcy Priority: How Rent-Seeking Upends the Creditors’ Bargain
Post by Frederick Tung, Professor at Boston University School of Law In “Breaking Bankruptcy Priority: How Rent-Seeking Upends …
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Buyer Beware: Courts Put Claims Trades Under a Microscope
By Rick Antonoff, Mark Pesso, Timothy Bennett and Leah Edelboim, Clifford Chance US LLP Recent decisions on claims trading in …
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The Ownership and Trading of Debt Claims in Chapter 11 Restructurings
By Victoria Ivashina, Ben Iverson, and David C. Smith The role that active investors play in Chapter 11 reorganization is hotly …
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Practitioners, Academics, and a Judge Testify about Safe Harbors before Congress
Author: Stephen D. Adams The House Judiciary Subcommittee on Regulatory Reform, Commercial, and Antitrust Law has held two sets …
The Bankruptcy-Law Safe Harbor for Derivatives: A Path-Dependence Analysis
Authors: Steven L. Schwarcz and Ori Sharon Bankruptcy law gives creditors in derivatives transactions a “safe harbor” in the form …
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Lehman Bankruptcy Court Issues Safe Harbor Decision
Authors: Kathryn Borgeson, Mark Ellenberg, Lary Stromfeld, John Thompson On December 19, 2013, Judge James M. Peck of the United …
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Capmark Decision Clarifies Insider Status for Market Participants
Authors: Marshall S. Huebner and Hilary A.E. Dengel, Davis Polk Being deemed an “insider” has important ramifications for …
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Valuation Methodologies: A Judge’s View
Author: the Hon. Christopher S. Sontchi There are a variety of methodologies to determine the value of assets that are routinely …
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Bankruptcy Step Zero
Authors: Douglas G. Baird and Anthony J. Casey In RadLAX Gateway Hotel, LLC v Amalgamated Bank, the Supreme Court’s statutory …
Bankruptcy and Economic Recovery
Authors: Thomas Jackson & David Skeel A striking feature of the recent economic crisis was the long period of subpar economic …