The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized in bankruptcy as a capital contribution and treated as equity. The case raises important questions about the extent to which the commencement of a proceeding under the U.S.
In Millenium Lab Holdings, Delaware District Court Judge Leonard Stark, on an appeal from a bankruptcy court order confirming a plan of reorganization, recently upheld a challenge to the bankruptcy court’s constitutional authority to release claims against non-debtor third parties under the plan.
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware handed down an important ruling last week that turned aside most of an unusual challenge to the fees and expenses of an indenture trustee in the long-running Nortel chapter 11 case. The dispute has been watched closely by financial institutions that serve as trustees on bond issuances. (Kelley Drye & Warren LLP represented a large creditor in the Nortel case but took no part in the issues discussed here).
Judge Christopher Sontchi recently issued an important opinion in the Molycorp chapter 11 case.
The U.S. Supreme Court will hear the case of Czyzewski v. Jevic Holding Corp. during the new term that began last week. The questions it presents are relatively simple. First, can a bankruptcy court, in dismissing a case under the U.S.
The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge Sean Lane of the Southern District of New York.
The chapter 11 case of Energy Future Holdings (“EFH” or “Debtors”) roared back to life this month.
The latest iteration of the Sun Capital litigation has confirmed once again what many restructuring professionals have known for a long time - that pension liabilities have a nasty habit of kicking investors where it hurts, often when least expected. Our recent blog explains the decision and provides some insights on the case.
From April 2016 companies and limited liability partnerships (“LLPs”) (except for publicly traded companies) will be required to create and maintain a register of persons with “significant control” over the company (“PSC Register”) and in due course send that information to Companies House where it will be publically searchable.
What’s the purpose of the new regulations?