Committee Articles

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Making In-Court Corporate Reorganizations Easier: Upcoming Bankru...

German corporate bankruptcy law will soon undergo a major reform when the proposed Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen (ESUG, or the Company Restructuring Facilitation Act) passes through legislation. The objective of the ESUG is to facilitate the restructuring of companies, strengthen the role of creditors and advance debtor-in-possession (DIP) type orders (eigenverwaltung) and reorganization plans (insolvenzplan).

Basel Committee Urges Cooperation Among Cross-Border Bank Regulat...

The Basel Committee on Banking Supervision may be most widely known as the originator of the “Basel Capital Standards,” “Basel II” and “Basel [III].” They provide guiding principles for capital for credit institutions (principally deposit-taking institutions) and related actors in the organized and regulated financial markets. The committee traces its origins largely to bank failures.

Third-Party Releases Enforced in Chapter 15 Recognition Proceedin...

Recently, the US Bankruptcy Court for the Southern District of New York, in In re Metcalfe & Mansfield Alternative Investments, held that broad nondebtor, third-party releases previously approved as part of foreign restructuring proceedings under the Canadian Companies’ Creditors Arrangement Act (CCAA) where the restructuring plan was adopted by 96 percent of its creditors would be enforced in U.S.