Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

CFIUS Review of Foreign Investment in U.S. Industries

The role of foreign investment in private companies involved in U.S. national security first came to Congress’s attention in the 1970s when investments by foreign purchasers, especially from the Organization of the Petroleum Exporting Countries (OPEC), began to comprise significantly more assets based in America. With a view to monitor the U.S.

WaMu Court’s Decision Reiterates Lesson for Hedge Funds

Indalex Limited: DIP Charge Subordinated in a Canadian Restructuring

THE INTERNATIONAL SCENE: Indalex Limited: DIP Charge Subordinated in a Canadian Restructuring (citation: Michael J. MacNaughton, Craig J. Hill and Sam P. Rappos, Indalex Limited: DIP Charge Subordinated in a Canadian Restructuring, XXX ABI Journal 6, 40-41, 72-73, July/August 2011) - Craig J. Hill, Michael J. MacNaughton and Sam P. Rappos

Foreign Representatives of Madoff Feeder Fund Obtain § 108 Extension

THE INTERNATIONAL SCENE: (citation: T.M. Wiener, Foreign Representatives of Madoff Feeder Fund Obtain § 108 Extension, XXX ABI Journal 6, 42-43, July/August 2011) - Tally M. Weiner

When Dust Settles, How Much Of The World Will China Own?

The world's banker One wonders what the world will look like when the music stops, The Globe and Mail reported. China, the economic engine of the post-recession era, has already been on a buying spree, striking deals around the world largely in the resources sector. It's also the biggest foreign holder of America's debt, and has helped buoy other countries and companies.

The Quest For Jobs

A little geographical imagination helps to convey the scale of joblessness in the West. If the 44m people who are unemployed in the mainly rich members of the OECD lived in one country, its population would be similar to Spain’s. In Spain itself, which has the West’s highest jobless rate (21%), the number of people without work matches the combined population of Madrid and Barcelona. In America the 14m people officially jobless would form the fifth-most-populous state in the union.

Nortel reaches Court of Appeal

On 10 December 2010, the High Court gave judgment in a joint application by the administrators of certain companies in the Nortel and Lehman estates for directions on the status of any financial support direction (FSD) or contribution notice (CN) issued to the companies in administration or any subsequent liquidation (Bloom & Others v.

Update: Bankruptcy Safe Harbor Protection for Commodity Requirements Contracts

In past Stroock Special Bulletins, we have reported on court decisions addressing whether an agreement to supply a purchaser’s requirements of a commodity qualifies for the “safe harbor” protections of the United States Bankruptcy Code.Courts have disagreed on the scope of these safe harbor protections.

Second Circuit Decision in Enron Affirms That Bankruptcy Code Safe Harbor Applies to Pre-Maturity Commercial Paper Payments

On June 28, 2011, the Second Circuit Court of Appeals decided Enron Creditors Recovery Corp. v. Alfa, S.A.B. de C.V., ING VP Balanced Portfolio, Inc., and ING VP Bond Portfolio, Inc., providing further assurance to investors in commercial paper that their secondary market transactions in the paper of a distressed issuer will not be unwound. Click here for more..

Global Trade Associations Warn of Potential Pitfalls of New Derivatives Regulations

Eight international trade associations, including the International Swaps and Derivatives Association, the European Banking Federation and the Futures and Options Association, have sent a joint letter to Michel Barnier, the EU Internal Markets Commissioner, and Timothy Geithner, the Secretary of the US Treasury Department, urging them to focus on greater international coordination in the preparation and implementation of the new regulations on derivatives to be introduced across the G20 jurisdictions.