In April 2019, the Institutional Limited Partners Association (“ILPA”) released a set of considerations for Limited Partners and General Partners with respect to General Partner-led secondary fund restructurings (the “ILPA Memo”). The ILPA Memo can be viewed here.
USA, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Weil Gotshal & Manges LLP
Section 546(e) of the bankruptcy code prohibits a bankruptcy trustee from avoiding “settlement payment[s]”, or payments “made in connection with a securities contract,” that are “made by or to (or for the benefit of)” qualifying financial entities, including financial institutions, stockbrokers, commodities brokers and others.
USA, Capital Markets, Company & Commercial, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Share (finance), Bankruptcy, Debtor, Security (finance), Safe harbor (law), Trustee, Eighth Circuit, Eleventh Circuit, Sixth Circuit, Seventh Circuit, Tenth Circuit