Fulltext Search
Denial of Stay Relief is a Final Order, Says the U.S. Supreme Court

The Supreme Court, in Ritzen Group, Inc. v. Jackson Masonry, LLC,1 issued an unanimous opinion last week, ruling that the Court of Appeals for the Sixth Circuit correctly denied the ability of creditor Ritzen Group Inc.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
Debtor in possession financing – what is it, who needs it and how did it jump the queue?

Debtor in Possession (“DIP”) financing is essentially new bridge financing that is provided to a corporation as it undergoes insolvency proceedings. The term exists because the corporation maintains possession of its assets during this process as opposed to having a bankruptcy trustee take possession. The concept derived from the United States of America where DIP financing is expressly provided for under c.11 of the Bankruptcy Code and allows a bankrupt corporation to incur new debt for the purposes of carrying on business operations.

Canada, Insolvency & Restructuring, Litigation, Miller Thomson LLP, Bankruptcy, Debtor, Debt, Tax deduction, Cashflow, Debtor in possession, Bridge loan, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada)