United States

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SPAC-and-Span: A Clean Exit?

While robust M&A and IPO markets have given investors solid liquidity options, in some cases selling a company to a publicly traded special purpose acquisition company, or SPAC, can be an appealing alternative. Recent examples in the United States in ...

Resource Article - abi_admin - 07/03/2015 - 09:49 - 0 comments - 0 attachments

Abu Dhabi Global Market Launches Public Consultation on Financial Services Laws and Regulations

Abu Dhabi Global Market (ADGM), Abu Dhabi’s financial free zone, has published a series of consultation papers on draft Financial Services and Market Regulations (the “FSMR Regulations”) which will establish the framework which will govern the licensing, ...

Resource Article - abi_admin - 07/03/2015 - 09:48 - 0 comments - 0 attachments

Italy’s New Restructuring Rules

On June 23, 2015, the Italian Government approved important amendments to the Italian Bankruptcy Act. These amendments follow a major reform in 2012, which introduced U.S. Chapter 11-style proceedings in Italy by modifying the pre-existing concordato pre ...

Resource Article - abi_admin - 07/03/2015 - 09:45 - 0 comments - 0 attachments

S.D.N.Y. District Court Holds Trust Indenture Act Limits Ability of Issuer to Restructure Bonds of Dissenting Bondholders Outside of Bankruptcy

On June 23, 2015, Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York held that a debt restructuring outside of bankruptcy that deprives dissenting bondholders of assets against which to recover violates Section 3 ...

Resource Article - abi_admin - 07/03/2015 - 09:39 - 0 comments - 0 attachments

Alvarez & Marsal - US Healthcare and the Payment-Driven Transformation Ahead

Healthcare spending is forecast to increase from US$3 trillion in 2014 to US$5.2 trillion in 2023, reflecting a compound annual growth rate of 5.9 percent. US health care expenditures on a per capita basis are 1.9-2.6 times the amount spent by other deve ...

Resource Article - abi_admin - 07/03/2015 - 09:36 - 0 comments - 0 attachments

US: Helping Over-Burdened Borrowers it the Goal of Bankruptcy

Should the bankruptcy code be amended to make it easier for borrowers to seek forgiveness of student loan debt through a bankruptcy filing? The explosive growth of student debt has become not only a mounting political issue, but its near-suffocating effe ...

Resource Article - abi_admin - 07/03/2015 - 09:15 - 0 comments - 0 attachments

US: Oil and Gas Bankruptcies will be Complex - A US Perspective

How much stress can we expect to see for oil and gas producers and related companies as a result of the current low prices? And what special issues does this industry face when it’s time to restructure or file for bankruptcy? We explore these issues in t ...

Resource Article - abi_admin - 07/03/2015 - 09:14 - 0 comments - 0 attachments

Fifth Circuit Curtails Remand and Abstention Remedy for U.S. Litigation Broadly Related to Foreign Debtor Chapter 15 Bankruptcy Proceedings

On June 5, 2015, a three judge panel for the United States Court of Appeals for the Fifth Circuit (the “Court”) held that a district court may not discretionarily abstain from and equitably remand a properly removed state court action when the case relat ...

Resource Article - abi_admin - 07/03/2015 - 09:02 - 0 comments - 0 attachments

Finding the Antidote – Addressing Poison Put Provisions in Debt Instruments

A number of recent contested proxy situations have highlighted so-called “proxy put” provisions in companies’ debt instruments. These provisions (also referred to as “poison puts”) provide that a change in the majority of a company’s directors without th ...

Resource Article - abi_admin - 07/03/2015 - 08:52 - 0 comments - 0 attachments

Storm clouds on the horizon… Foreign real estate investments in secondary US markets

Commercial real estate assets in major markets such as New York City, Washington, DC, Boston, Chicago, Los Angeles and San Francisco have experienced a strong rebound in values and are being transacted near, or above, their pre-recession peaks. In contra ...

Resource Article - abi_admin - 06/05/2015 - 10:17 - 0 comments - 0 attachments

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