On December 1, 2014, the U.S. House of Representatives passed the Financial Institution Bankruptcy Act of 2014(FIBA). The legislation passed on a voice vote and is supported by the major Wall Street banks.
USA, Insolvency & Restructuring, Squire Patton Boggs, Bankruptcy, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)
All bankruptcy practitioners know that a debtor may choose which contracts to assume and which contracts to reject. But may a debtor reject contracts that are part of an overall, integrated transaction? In a recent bankruptcy decision, the court found the answer to be no, at least if the parties are careful in drafting their contracts.
Who Should Read This? Anyone that deals in distressed debt, and in particular anyone that acquires distressed or defaulted bond debts.
USA, Competition & Antitrust, Insolvency & Restructuring, Litigation, White Collar Crime, Bryan Cave Leighton Paisner (Bryan Cave), Sherman Antitrust Act 1890 (USA)