By Francisco Vazquez (US) and Michael Berthiaume (US) on Posted in Bankruptcy Courts,USINSOL International’s latest news update discusses a decision by a court in the Southern District of New York finding that a Cayman Islands liquidation under Section 92(e) of the Companies Act is not a foreign proceeding that can be recognized under Chapter 15 of the US Bankruptcy Code. View the article.… Continue Reading
By Francisco Vazquez (US) and Michael Berthiaume (US) on Posted in Bankruptcy Courts,USINSOL International’s latest news update discusses the dismissal of a chapter 15 case and the foreign representative now barred from appearing before the United States Bankruptcy Court for the Northern District of Illinois. View the article here INSOL News Update.… Continue Reading
By Michael Berthiaume (US) and Francisco Vazquez (US) on Posted in Bankruptcy Courts,Financial Restructuring & Insolvency,GlobalChapter 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
By NRF Digital Team on Posted in Australia,Bankruptcy Courts,Europe,Financial Restructuring & Insolvency,Global,Singapore,USOur 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
By Yu-En Ong, Pooja Balani and Katie Chung on Posted in Bankruptcy Courts,Involuntary Bankruptcy,SingaporeOn 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
By Howard Seife (US) on Posted in Bankruptcy Courts,Involuntary Bankruptcy,USWe 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
By James Salwen on Posted in Bankruptcy Courts,USServing 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
By Eric Daucher (US) on Posted in Bankruptcy CourtsAfter 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
By on Posted in Bankruptcy CourtsEarlier 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
