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Five Elements for Chinese Companies trading with UK counterparts Part 4: Fire

In our work with international companies supplying goods to the UK, we see the same issues arising regularly. In Part 3, we examined the types of insolvency process a customer may be subject to. In this fourth of five articles based on the five elements of the Wu Xing, we take the theme of Fire and explain the significant powers that arise for the insolvency practitioner on the entry into insolvency: to investigate propriety and recover assets to the central pool to pay creditors.

United Kingdom, Insolvency & Restructuring, Litigation, King & Wood Mallesons
Going Once, Going Twice: Avoiding a Prepetition Foreclosure Sale in Chapter 11

Among the many protections afforded creditors under the Bankruptcy Code is the estate’s ability to avoid transfers made before the petition date that benefit certain creditors at the expense of others. These so-called avoidance actions are primarily governed by Sections 544, 547 and 548 of the Bankruptcy Code, which set forth the requirements for challenging prepetition transfers as preferential or fraudulent.

USA, Pennsylvania, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, US Congress, Supreme Court of the United States, United States bankruptcy court, Third Circuit, US District Court for Western District of Pennsylvania
Court Approves Key Employee Incentive Plan, Finding it is Not a Disguised Retention Plan

Key Employee Retention Plans (KERPs) and Key Employee Incentive Plans (KEIPs) often are the subject of intense interest, either because a distressed company’s management is focused on developing such programs to retain valuable talent during a time of great uncertainty within its organization or because certain creditor constituencies or parties in interest take issue with the payments a debtor intends to make under the programs.

USA, Colorado, Employment & Labor, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Secured creditor
Dueling Debtors: Missouri Bankruptcy Court says Debtor Can Reject Contract that Counterparty (Who is Also a Debtor) Sought to Assume

What happens when the counterparties on both sides of a contract are debtors in separate bankruptcy cases and their estates have contrary views about whether to reject or assume a contract?

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, United States bankruptcy court
The Saga Continues: A brief update on the EFIH First Lien Make Whole Litigation

As avid blog readers know, we’ve posted extensively on make whole issues, including several articles covering the ongoing make whole litigations in the chapter 11 cases of Energy Future Holdings and its affiliated debtors, which can be found here, 

USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
What the future holds for make-whole claims in bankruptcy (Redux): examining the Energy Future Holdings EFIH second lien make-whole decision

Are you feeling a bit of déjà vu?  We certainly are.  As readers know, here at the Weil Bankruptcy Blog we’ve written extensively about make-wholes.  In two previous posts, What the Future Holds for Make-Whole Claims in Bankruptcy: Examining the Energy Future Holdings EFIH First Lien Make-Whole Decision – 

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy
What education management can teach US about the protections available to minority noteholders in an out-of-court restructuring

Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect their rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Unsecured debt
What Marblegate can teach US about the protections available to minority noteholders in an out-of-court restructuring

Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect its rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Unsecured debt
What the future holds for make-whole claims in bankruptcy: examining the Energy Future Holdings EFIH first lien make-whole decision – part 2

Today, we follow up on our earlier post where we reviewed the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings

USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
What the future holds for make-whole claims in bankruptcy: examining the energy future holdings EFIH first lien make-whole decision – part 1

Two recent decisions from large and highly contested chapter 11 cases add to the developing body of case law on the treatment of make-whole claims in bankruptcy.  First, in a two-part post, we discuss the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings, and later, in a follow-up post, we discuss the United States District Court for the Southern District of

USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, United States bankruptcy court