Judge Glenn Rules Lockup Provisions Are Unenforceable When Counterparties Lack Adequate Information and “Meaningful Outs”

On April 22, 2024, in the chapter 11 cases of GOL Linhas Aéreas Inteligentes S.A.

Filed under:
USA, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP
Authors:
Jacob A Adlerstein , Paul M. Basta , Lauren Bilzin , Brian Bolin , Robert Britton , Alice Belisle Eaton , Joe Graham , Brian S. Hermann , Christopher Hopkins , Kyle J. Kimpler , Elizabeth R. McColm , Sean Mitchell , Andrew M. Parlen , Andrew N. Rosenberg , John Weber , Kenneth S. Ziman , Michael J. Colarossi
Location:
USA
Firm:
Paul, Weiss, Rifkind, Wharton & Garrison LLP
New York Bankruptcy Court Approves Two Structured Dismissals Post-Jevic

In two recent rulings, the Bankruptcy Court for the Southern District of New York confirmed that structured dismissals are viable options for debtors to exit bankruptcy notwithstanding the Supreme Court’s Jevic decision.

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Supreme Court of the United States
Authors:
Jacob A Adlerstein , Paul M. Basta , Brian Bolin , Robert Britton , Kelley A. Cornish , Alice Belisle Eaton , Brian S. Hermann , Kyle J. Kimpler , Alan W Kornberg , Elizabeth R. McColm , Andrew M. Parlen , Andrew N. Rosenberg , Jeffrey D. Saferstein , John Weber , Michael J. Colarossi
Location:
USA
Firm:
Paul, Weiss, Rifkind, Wharton & Garrison LLP