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Bankruptcy. Discovery. Sanctions. Bankruptcy court sanctions attorney for failing to make reasonable efforts to obtain discovery materials held outside the U.S. by incarcerated debtor's agents and attorneys.

In re Markus, 607 B.R. 379 (Bankr. S.D.N.Y. 2019) [click for opinion]  

USA, Insolvency & Restructuring, Litigation, Baker McKenzie, Bankruptcy, Debtor, Title 11 of the US Code, United States bankruptcy court
Section 1782. Magnitsky Act. District court orders parties to confer to narrow the scope of subpoena served on Russian national residing in the United States aimed at obtaining documents in aid of Russian bankruptcy proceeding, over objection that allowing the discovery violated the Magnitsky Act.

Deposit Ins. Agency v. Leontiev, No. 17-MC-00414 (S.D.N.Y. July 23, 2018) [click for opinion]

Russia, USA, Banking, Insolvency & Restructuring, Litigation, Baker McKenzie
Supreme Tax Court Abolishes German Restructuring Privilege

Cancellation of debt a key element of most restructurings generally triggers taxable income. The German tax authorities had issued an administrative decree (the "Tax Restructuring Decree" - Sanierungserlass), however, declaring that, upon the satisfaction of certain requirements and conditioned on forfeiture of any loss carry forwards, the cancellation of debt income ("CODI") would not be taxed.

Germany, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP