Restructuring companies in respect of which there exists a significant credit default swaps (CDS) market adds an additional level of complexity which the debtor and all stakeholders should consider and assess early on in the process, as it could determine the success or failure of a restructuring plan.
European Union, Global, USA, Derivatives, Insolvency & Restructuring, Latham & Watkins LLP, Bond (finance), Bankruptcy, Credit (finance), Debtor, Interest, Swap (finance), Credit risk, Maturity (finance), Balance sheet, Credit default swap
Summary
In one of the most eagerly awaited appeals to affect the restructuring and insolvency community since MyTravel, the Court of Appeal in the European Directories case ruled on Friday 22 October that:
European Union, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Share (finance), Shareholder, Surety, Debt, Holding company, Court of Appeal of England & Wales
The Eastern District of Pennsylvania held that secured creditors do not have a right to credit bid their claim when the sale of a debtor’s assets is conducted under a plan of reorganization.
USA, Pennsylvania, Insolvency & Restructuring, Litigation, McDermott Will & Emery, Bankruptcy, Credit (finance), Debtor, Unsecured debt, Collateral (finance), Limited liability company, Debt, Fair market value, Secured creditor, Secured loan, Title 11 of the US Code, United States bankruptcy court, Third Circuit, US District Court for Eastern District of Pennsylvania