The Fifth Circuit held in October of this year in In re Ultra Petroleum Corp., 51 F.4th 138 (5th Cir. 2022) that a contractual …
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The Cannabis Conundrum: Can Cannabis Companies File Chapter 15?
By Colin Davidson and Catherine Jun (Sheppard, Mullin, Richter & Hampton LLP) Cannabis is now legal in 19 states and …
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[Texas Two-Step and the Future of Mass Tort Bankruptcy Series] The Texas Two-Step: The Code Says it’s a Transfer
By Mark Roe and William Organek (Harvard Law School) Note: This is the seventh in a series of posts on the Texas Two-Step, the …
Delaware Bankruptcy Court Rebuffs U.S. Trustee Effort to Collect Statutory Fees from Litigation Trust Distributions
By Paul, Weiss On June 28, 2021, in the chapter 11 cases of Paragon Offshore plc and certain of its affiliates (“Paragon” or the …
Courts in Puerto Rico Case Adopts Alternative Test to Find Settlement Agreements Were Executory
By John Beck and Jennifer Lee (Hogan Lovells) A debtor can elect to either assume or reject an executory contract under …
Oversecured Creditor’s Right to Contractual Default-Rate Interest Allowed Under State Law
By Stacey L. Corr-Irvine and Mark G. Douglas (Jones Day) It is generally well understood that an “oversecured” creditor is …
Ultra III: Law Firm Perspectives
By Xiao Ma (Harvard Law School) On November 26, 2019, the Fifth Circuit granted a petition for rehearing en banc and issued a …
Tribune II: Law Firm Perspectives
By Xiao Ma (Harvard Law School) On December 19, 2019, the Second Circuit issued its amended opinion in In re Tribune Company …
Will Bankruptcy Preference Lawsuits Decline due to Statutory Changes?
By Lisa P. Sumner (Nexsen Pruet) Two recent amendments to the U.S. Bankruptcy Code impose new hurdles for debtors and trustees to …
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Second Circuit Fumbles Tribune on Reconsideration
By Daniel J. Bussel (UCLA School of Law) The Second Circuit recently issued its revised opinion in Tribune Company Fraudulent …
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Recent Developments in Cross-Border Insolvency and Recognition of Foreign Bankruptcy Proceedings in the US Bankruptcy Courts
By Mark G. Douglas and Dan T. Moss (Jones Day) On July 25, 2019, the Judicial Insolvency Network announced its adoption of …
Make-Whole Claims in Bankruptcy
By Sam Lawand (White & Case LLP) The well-established “perfect tender in time rule” dictates that debt must be repaid only …
Fifth Circuit Rules That Corporate Charter Provision Requiring Shareholder Consent for Bankruptcy Filing Is Enforceable but Declines to Rule on Validity of “Golden Shares”
By Mark A. Cody and Mark G. Douglas (Jones Day). In a highly anticipated decision, the U.S. Court of Appeals for the Fifth …
A New Approach to Executory Contracts
By John A. E. Pottow (University of Michigan Law School) Few bankruptcy topics have bedeviled courts—and busied commentators—as …
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Merit Management v. FTI: Law Firm Perspectives
On February 27, the Supreme Court decided Merit Management Group, LP v. FTI Consulting, Inc., holding unanimously that the § …
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