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Supreme Court Holds That a Non-Debtor Retaining a Debtor’s Property Does Not Exercise Control Over the Property in Violation of the Automatic Stay

In January 2020, we analyzed a split among the Circuit Courts regarding whether a non-debtor holding a debtor’s property on the petition date has an affirmative obligation under section 362(a)(3) of the Bankruptcy Code to return that property to the debtor immediately following the filing of the bankruptcy petition.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Down but not out (of the money): Are underwater interest holders entitled to a share of the premium on a sale free and clear of liens under US Bankruptcy Code section 363?

Bankruptcy Code section 363(f) allows a debtor to sell an asset free and clear of interests (such as liens and leases) under certain conditions − for example, if the interest is subject to a bona fide dispute, the interest holder consents, or the debt secured by the lien is fully satisfied.

USA, Insolvency & Restructuring, DLA Piper
Noble Energy Inc. v ConocoPhillips and undisclosed executory contracts

Twenty years after Noble Energy, Inc. acquired assets from the bankruptcy estate of Alma Energy Corp., ConocoPhillips, Co. asserted a US$63 million claim against Noble regarding the acquisition.

USA, Texas, Insolvency & Restructuring, Litigation, DLA Piper, European Securities and Markets Authority
Barbarians at the (Marble)gate?

Restructurings are all about alternatives. It is one thing for a creditor to hold an instrument that entitles it to payment of $X on Y date. But if the debtor does not have the cash to satisfy the obligation when due, some type of restructuring must occur.

USA, New York, Insolvency & Restructuring, Litigation, DLA Piper, Debtor