The U.S. Supreme Court held last week in Truck Insurance Exchange v. Kaiser Gypsum Co. that an insurance company with financial responsibility for bankruptcy claims is a “party in interest” with the right to object to a Chapter 11 reorganization plan.
Section 1109(b) of the Bankruptcy Code provides:
USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, Supreme Court of the United States, Fourth Circuit
With the enactment of the Ley de Concursos Mercantiles (the “LCM”) in 2000, Mexico took a dramatic step towards modernizing its bankruptcy and insolvency laws. Several years later, in 2007, Mexico took additional steps by enacting a number of reforms aimed to create or clarify the legal framework regarding various important topics that were novel in Mexico, including implementation of a process to obtain approval of pre-negotiated plans.
Mexico, Insolvency & Restructuring, Chadbourne & Parke LLP, Public company, Bond (finance), Bankruptcy, Debtor, Debt, Standing (law), Investment funds, Trustee