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Jurisdiction Shifting – Creative Structuring Opportunities

As we have noted in prior M&A Updates, when dealmakers face a transaction where one or both of the parties are incorporated outside the Delaware comfort zone, they often confront unexpected structuring issues unique to entities or deals undertaken in ...

Resource Article - abi_admin - 01/21/2015 - 11:46 - 0 comments - 0 attachments

Restructuring Global Insight: Section 363 review trumps comity | property transactions pile on the pounds | Cayman segregated portfolio companies | & more

Welcome to issue 12 of Global Insight, bringing you reports on breaking legal developments in restructuring law across borders and in jurisdictions around the world. This issue features: GUEST ARTICLE ■ Portfolio transactions – why are property ...

Resource Article - abi_admin - 01/21/2015 - 11:21 - 0 comments - 0 attachments

American Bankruptcy Institute Commission Proposes Wide-Ranging Chapter 11 Reforms

The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 recently issued its Final Report and Recommendations , which propose a host of “Recommended Principles” that — if enacted by Congress — would alter significantly the U.S. b ...

Resource Article - abi_admin - 01/21/2015 - 11:13 - 0 comments - 0 attachments

In Surprise Move, Target Exits Canada And Takes $5.4 Billion Loss

Target Corp will exit the Canadian market after less than two years in a surprise retreat that will throw more than 17,000 employees out of work and trigger a $5.4 billion quarterly loss. Shares of the U.S. discount retailer, which was granted creditor p ...

Daily Headline - global.abi.org - 01/16/2015 - 00:36 - 0 comments

David Drumm May Face Criminal Charges In US

The highly critical judgment in the bankruptcy trial of former Anglo Irish Bank chief executive David Drumm has been passed to the office of the US Trustee, which can refer the judge’s findings to the department of justice and recommend criminal charges ...

Daily Headline - global.abi.org - 01/11/2015 - 19:52 - 0 comments

Victims Of Quebec Oil-By-Rail Disaster Agree To $200 Million Settlement

Victims of the Lac-Megantic oil-by-rail disaster that killed 47 people in the Canadian province of Quebec in 2013 agreed to a nearly $200 million settlement with some of the firms involved, including the insolvent rail operator at the center of the trage ...

Daily Headline - global.abi.org - 01/11/2015 - 19:55 - 0 comments

Nortel Canada Appeals $1 Billion Bond Interest Settlement

Canada’s Nortel Networks Corp. is appealing a U.S. court ruling that could put the bulk of the dissolved company’s cash into the hands of distressed-debt trading firms, The Wall Street Journal reported. The ruling under attack blessed a settlement be ...

Daily Headline - global.abi.org - 01/04/2015 - 21:15 - 0 comments

Focus on Financial Reporting - 2014 Annual Update

We are pleased to provide you with the 2014 edition of KPMG’s Focus on Financial Reporting. This year witnessed one of the most significant changes to financial reporting in a generation with the FASB and the IASB releasing a converged standard on reco ...

Resource Article - abi_admin - 12/15/2014 - 09:46 - 0 comments - 0 attachments

"Slipping Away? – Enforceability of Obligations Against Non-Signatories in Private Mergers"

A recent Delaware decision in Cigna provides important guidance on simple yet important steps that buyers of private companies using a merger structure can take to more effectively impose certain post-closing obligations on stockholders who do not sign a ...

Resource Article - abi_admin - 12/15/2014 - 09:38 - 0 comments - 0 attachments

“Reducing a customer’s Accounts Receivable in the zone of Insolvency”

by David CONAWAY Reuters, Bloomberg and Debtwire are all reporting negative financial information about your customer: Bond ratings are downgraded, bond prices are falling, a likely “restructuring” to address the bond debt is on the way, bondholder ...

Resource Article - global.abi.org - 12/15/2014 - 09:36 - 0 comments - 1 attachment

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