Zone of Insolvency

Zone of Insolvency

Category Archives: Bankruptcy Courts

Subscribe to Bankruptcy Courts RSS Feed

US Bankruptcy Court dismisses Ch. 15 case, bars foreign representative from appearing before it

Posted in Bankruptcy Courts, Financial Restructuring & Insolvency, Global
Chapter 15 of the Bankruptcy Code was enacted to, among other things, foster cooperation between courts of the United States and courts of foreign countries “involved in cross-border insolvency cases.” 11 U.S.C. § 1501(a). In furtherance of this mandate, Section 1518 of the Bankruptcy Code requires a foreign representative to inform the US court of… Continue Reading

Global bankruptcy financial restructuring and insolvency group releases the Q2 2022 issue of International Restructuring Newswire

Posted in Australia, Bankruptcy Courts, Europe, Financial Restructuring & Insolvency, Global, Singapore, US
Our global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire. Our new issue features articles from Singapore, the US, the Netherlands, Canada, Italy and Australia to help you stay current on recent developments in restructurings in various jurisdictions around the globe.   Recent case law developments in Singapore’s restructuring and insolvency laws show… Continue Reading

The Insolvency, Restructuring and Dissolution Act 2018 – Reforming the law on contractual remedies

Posted in Bankruptcy Courts, Involuntary Bankruptcy, Singapore
On 30 July 2020 Singapore’s new “omnibus” Insolvency, Restructuring and Dissolution Act 2018 (the Insolvency Act) came into effect. This marks the third phase in recent years to strengthen Singapore’s restructuring and insolvency laws. The Insolvency Act consolidates the laws on insolvency, bankruptcy, restructuring and dissolution into a single enactment and introduces a number of… Continue Reading

Global financial response to the COVID-19 crisis

Posted in Bankruptcy Courts, Involuntary Bankruptcy, US
We have launched our interactive cross-border guide to the financial support on offer to businesses during the COVID-19 crisis and considerations for banks, corporates and directors trading through the turmoil. We also look at some of the issues being considered in the lending market as well as changes in insolvency law, reviewable transactions and tips… Continue Reading

Appeals Court Strengthens Protections for Bankruptcy Committee Members

Posted in Bankruptcy Courts, US
Serving on a court-appointed bankruptcy committee can come with many benefits, and the list just got a little longer. In Blixseth v. Brown, the Ninth Circuit held that committee members enjoy some of the same protections as trustees when it comes to potential attacks for actions taken during a bankruptcy case. Applying the Barton doctrine,… Continue Reading

Supreme Court Appears Ready to Limit Bankruptcy Court Power in Fraudulent Transfer Actions

Posted in Bankruptcy Courts
After January 14’s oral argument in Executive Benefits Insurance Agency v. Arkison, the big question appears to be not whether the Supreme Court will scale back bankruptcy court power over fraudulent transfer actions, but how drastic the new limitations will be.  Our previous discussions of Arkison appear here and here. Background The facts of Arkison are… Continue Reading

Ninth Circuit Authorizes Recharacterization of Debt as Equity

Posted in Bankruptcy Courts
Earlier this year, the Ninth Circuit in Official Committee of Unsecured Creditors v. Hancock Park Capital II, L.P. (In re Fitness Holdings International Inc.), 714 F.3d 1141 (9th Cir. 2013) joined five other circuits in recognizing that bankruptcy courts have the power to recharacterize debt as equity, notwithstanding the fact that such recharacterization is not… Continue Reading