By Leonard Klingbaum, Matthew Czyzyk, Sam Badawi, Nitin Konchady, Faiza N. Rahman, Matthew M. Roose, Natalie Blanc, Natalie Raine, …
Continue Reading about Distressed Debt Legal Insights: Fossil Group’s UK Restructuring Plan
The Global Law of Debt
By Jared A. Ellias (Harvard Law School) and Narine Lalafaryan (University of Cambridge, Faculty of Law; Cambridge Endowment for …
Houston, We Have (Another) Problem
By Jeffrey Pawlitz (Willkie Farr & Gallagher LLP) In September 2025, the U.S. District Court for the Southern District of …
Recharacterizing Contracts: The Sale-versus-Loan Problem of Receivables Financing
By Steven L. Schwarcz (Duke University School of Law) and Isabelle Stewart (Duke University School of Law) This Article …
Florida Bankruptcy Court: Proposed DIP Financing and Sale Framework for Administratively Insolvent Debtors Did Not Violate Jevic’s Prohibition of Priority-Deviating Distributions
By Jeffrey Ellman (Jones Day) The U.S. Supreme Court ruled in Czyzewski v. Jevic Holding Corp., 580 U.S. 451 (2017), that the …
When Tort Liability Bankrupts Labor
By Alvin Velazquez (Indiana University Maurer School of Law) The main character in 2019 Game of the Year Award winning video …
Liability Management Exercises Mature
By Robert Miller (University of South Dakota Law School) When large, distressed entities restructure, they typically prefer …
Continue Reading about Liability Management Exercises Mature
Insolvency and systemic risks: The macroeconomic costs of director duties in crisis
By Adi Marcovich Gross (Reichman University & The Wharton School) The traditional thinking is that insolvency duties …
Tariffs, a Trade War, and Tumult in the Global Trading System: Yet Another Potential Economic Shock to Emerging Economies
By Steven T. Kargman (Kargman Associates) The tariffs announced by the Trump administration are widely expected to lead to …
Legal Heterodoxy in the Global South: Priority of Workers versus Secured Creditors in Insolvency
By Kevin Davis (New York University), Mariana Pargendler (Harvard Law School), and Maria Eduarda Lessa (No affiliation) Our …
Bankruptcy as a National Security Risk
By Jason Jia-Xi Wu (Law Clerk; Harvard Law School) Defense contractors lie at the heart of the U.S. national security regime. …
Continue Reading about Bankruptcy as a National Security Risk
Sustainable Bankruptcy
By G. Ray Warner (St. John's University) Sustainability is about consequences, and a sustainable approach to bankruptcy …
Mind the Gap: The Uncertain Status of Aircraft Lenders to Foreign Airlines in Chapter 11
By Prof. Kenneth Ayotte (University of California, Berkeley School of Law) and Gulnur Bekmukhanbetova (Winstead PC) On July …
Exit Consents in a Liability Management World
By Dennis Jenkins (Willkie Farr & Gallagher LLP) As liability management exercises (LMEs) and creditor-on-creditor …
Continue Reading about Exit Consents in a Liability Management World
Judge Goldblatt Reconsiders What Constitutes“Consent” Post Purdue Pharma
By Michelle Saney (Squire Patton Boggs) On June 27, 2024, the Supreme Court issued its long-awaited ruling regarding an …
Continue Reading about Judge Goldblatt Reconsiders What Constitutes“Consent” Post Purdue Pharma
The Backstop Party
By Professor Vince Buccola (University of Chicago Law School), Adi Marcovich Gross (Columbia Law School and The Wharton School), …
Independent Directors Properly Exculpated as Debtors’ Disinterested Fiduciaries Under Chapter 11 Plan, Southern District of Texas Bankruptcy Court Rules
By Brian S. Hermann, Jacob A. Adlerstein, Claudia R. Tobler and Lindsay A. Wasserman (Paul, Weiss, Rifkind, Wharton & …
Purdue: Impacts on Cross-Border Restructurings
By Thomas Kessler and Emily King (Cleary Gottlieb Steen & Hamilton LLP) On June 27, 2024, the United States Supreme Court …
Continue Reading about Purdue: Impacts on Cross-Border Restructurings
Bankruptcy’s Redistributive Policies: Net Value or a “Zero-Sum Game”?
By Prof. Steven L. Schwarcz (Duke University School of Law) Although federal bankruptcy law, epitomized by Chapter 11, has a …
Continue Reading about Bankruptcy’s Redistributive Policies: Net Value or a “Zero-Sum Game”?
Do Rights Offerings Reduce Bargaining Complexity in Chapter 11?
By Professor Gunjan Seth (Marshall School of Business, University of Southern California) One of the primary challenges faced …
Continue Reading about Do Rights Offerings Reduce Bargaining Complexity in Chapter 11?