In Tanguy v. West (In re Davis), 2018 WL 4232063 (5th Cir. Sept. 5, 2018), the U.S. Court of Appeals for the Fifth Circuit revisited the circumstances under which section 363(m) of the Bankruptcy Code moots an appeal of a bankruptcy court’s order approving a sale of assets. The Fifth Circuit reaffirmed its adherence to the majority rule on the issue, ruling that, absent evidence that the purchaser did not acquire the property in good faith, the challengers’ failure to obtain a stay pending appeal moots any appeal of a sale order.

Rumors of another recession multiplied as the tumultuous second year of the Trump administration came to a close. Highlights of 2018 included a simmering trade war with China; political upheaval after the House of Representatives was retaken by Democrats in the midterm elections; mayhem in financial markets; and, in December, the beginning of the longest government shutdown in U.S. history, triggered by lawmakers’ refusal to provide $5.7 billion in funding for a U.S.-Mexican border wall.

On September 18, 2018, the United Nations Commission on International Trade Law ("UNCITRAL") published its final version of the new Model Law on the Recognition and Enforcement of Insolvency-Related Judgments (the "IRJ Model Law"). The IRJ Model Law creates a framework for the recognition and enforcement of judgments in foreign bankruptcy and insolvency proceedings. It is intended to supplement and complement the 1997 UNCITRAL Model Law on Cross-Border Insolvency (the "CBI Model Law").

An unresolved question - and one that generates disparate opinions - is addressed in this paper concerning whether and how conditional or litigating creditors should be acknowledged in terms of quorum and voting under the Fourth Additional Provision of the Insolvency Act.

Cuestión no resuelta —y generadora de dispares opiniones—, se afronta en esta nota cómo han de ser, o no, reconocidos en el quorum y en el voto de la disposición adicional cuarta de la Ley Concursal los acreedores condicionales y los litigiosos.

Concedida una subvención pública, fue posteriormente anulada en vía administrativa, con resolución que obligaba a devolver su importe. Entretanto el beneficiario de la subvención había sido declarado en concurso. Las dos instancias judiciales entendieron que la deuda de restitución es una deuda de la masa, por haber tenido lugar su devengo después de la declaración de concurso.

Se trata de un sumario y elocuentememo firmado por dos juristas de Kirkland & Ellis LLP, London, y publicado enInternational Corporate Rescue, vol. 15, issue 6, 2018, que resumo en lo que importa. Siempre suponiendo un hard Brexit. (1) Los tribunales de UK no reconocerán —salvo implementación por UK de la Ley Modelo de UNCITRAL— procedimientos de insolvencia extranjeros si afectan a titulares de créditos sometidos a Derecho inglés que disienten del acuerdo y no estuvieron presentes en el procedimiento extranjero.

Se explora la posibilidad de que los acreedores financieros de la masa del concurso puedan solicitar una homologación judicial de un acuerdo de refinanciación de sus créditos contra la empresa ya consursada.

In Bennett v. Jefferson County, Alabama, 899 F.3d 1240 (11th Cir. 2018), a panel of the U.S. Court of Appeals for the Eleventh Circuit ruled as a matter of first impression that the doctrine of equitable mootness applies in chapter 9 cases. According to the Eleventh Circuit panel, "[T]he correct result is to join the Sixth Circuit and the Ninth Circuit B.A.P.

On September 21, 2018, the U.S. District Court for the District of Delaware affirmed a bankruptcy court's ruling that it had the constitutional authority to grant nonconsensual third-party releases in an order confirming the chapter 11 plan of laboratory testing company Millennium Lab Holdings II, LLC ("Millennium"). SeeOpt-Out Lenders v. Millennium Lab Holdings II, LLC (In re Millennium Lab Holdings II, LLC), 2018 WL 4521941 (D. Del. Sept. 21, 2018).