We are proud of the leading role we played in Detroit’s restructuring and revitalization while working as part of a talented team of city and state leaders, the business and philanthropic communities, citizen advocates, and other professionals. Most of all, though, we are proud to see the city we call home fight back against great odds and make a historic comeback that few thought possible. Read more

by Howard Seife and Francisco Vazquez In considering an appeal of an order granting recognition to the Australian liquidation of Octaviar Administration Pty Ltd. (“Octaviar”), the United States Court of Appeals for the Second Circuit in In re Barnet, 737 F.3d 238, 58 Bankr. Ct. Dec. (CRR) 251, 70 Collier Bankr. Cas. 2d (MB) 1203, Bankr. L. Rep. (CCH) P 82554 (2d Cir.

1. The Momentive Decisions: Cram-Down Interest Rates and Make-Whole Mania 5. Update on the Recognition of the AustralianLiquidation of Octaviar: Satisfying the Debtor Eligibility Requirements in a Chapter 15 Case 6. Speeches, Events and Publications 8. An Introduction to Puerto Rico’s New Public Corporation Debt Enforcement and Recovery Act 10. Q&A: Puerto Rico’s Public Corporation Debt Enforcement and Recovery Act 12. UK Supreme Court Modernizes Agent’s Duty to Account

Two recent Chancery Court decisions, Crimson Exploration and KKR Financial, confirm that Delaware takes a flexible and fact-specific approach to determining whether a stockholder is deemed to be “controlling” for purposes of judicial review of a transaction. It is important for dealmakers to understand when the courts may make a determination of control, both to properly craft a defensible process and to understand the prospects for resulting deal litigation. Access the issue here.

In the last decade we have seen game-changing technology that delivers radically new customer value propositions by fulfilling a job in a dramatically better way, solving a problem that's never been solved before, or serving an entirely unaddressed customer base.

EU and U.S. government officials recently imposed additional sanctions targeting Russia. Current sanctions do not prohibit all trade or other transactions with Russia, but rather comprise an increasingly broad and complex set of restrictions. In light of this complexity, companies will want to involve persons with appropriate expertise in any existing or potential business involving Russia to avoid costly mistakes under laws that impose criminal and civil penalties for violations. Read more

by DLA Piper - Rick Chesley, Partner Interest rates that remain near zero and debt maturities that have been pushed out to 2017 and 2018 have helped drive chapter 11 filings to historic lows. Has this difficult environment put corporate restructuring on life support? Read more

by DLA Piper - Rick Chesley, Partner On March 14 2014 the Delaware Chancery Court found RBC Capital Advisors (RBC) liable for aiding and abetting the breach of fiduciary duty of the board of directors of Rural/Metro, stemming from the sale of the company to Warburg Pincus. Read more

by DLA Piper - Thomas Califano, Partner Over the last several years, a wide range of healthcare companies, among them hospitals, home health agencies and continuing care facilities, have faced financial distress as a result of declining revenues, high operating costs, reduction in reimbursements rates and increasing competition. Seeking relief, many hospitals and other healthcare companies are commencing chapter 11 cases and selling their assets to third parties in order to shed liabilities and facilitate an orderly transfer of their assets.

Over the past 12 months we have witnessed a mini-boom in global economic and financial conditions, resulting in fewer petitions for bankruptcy, and increased restructuring opportunities for lenders, investors and corporates.