The Supreme Court confirms in the recent decision No. 2538 of 9 February 2016 that the rules regardingthe effects of termination of a pending leasing contract, by choice of the receiver, cannot be applied tothe different case of termination for breach which has already occurred
The case
The Court of Milan (19 February 2016) adopts a restrictive approach and rules out that the special rulesprovided for concordato “preserving the business” (“concordato con continuità aziendale”) can applywhere the plan includes a lease of business arrangement
The case
Today, the Second Circuit reissued the latest in a line of cases adopting an expansive reading of the safe harbor under Section 546(e) of the Bankruptcy Code. In re Tribune Co. Fraudulent Conveyance Litig., Case 13-3992, Doc. 356-1 (2d Cir. Mar. 29, 2016). (This opinion was originally issued on March 24 and withdrawn on March 28. The opinion released today contains minor, non-substantive alterations to the text on pages 8, 22, 26, and 40. In all other respects, it is identical to the opinion withdrawn last week).
Can Gathering Agreements Be Rejected as Executory Contracts?
The Court of Bergamo (23 December 2015) authorized a business lease agreement even though a previous public auction could not be held due to the urgency of the case, considering that the mandatory provisions of Art. 163-‐bis of the Italian Bankruptcy Law apply only if consistent with the “pre-‐ concordato” phase.
The case
The Court of Alessandria (18 January 2016) addressed a series of issues regarding various rules meant to allow preserving the business in the concordato preventivo procedure, sell the business through competitive bids, lease the business prior to the application to commence the procedure, "mixed" concordato schemes and objections which key continuing suppliers can raise for past debts
The case
The Italian Government started the legislative process for a comprehensive restatement of the whole set of rules of insolvency procedures, with specific innovative addresses regarding (to mention only the most important) the concordato preventivo procedure, venue rules, an out-of-court mediation alert process to timely address a risk of insolvency, new forms of security and a streamlined se
Il Governo prevede una riformulazione complessiva ed organica della disciplina delle procedure di insolvenza esistenti, sulla linea dell‘evoluzione più recente, con precisi indirizzi innovativi – tra i più rilevanti – in tema di concordato preventivo di gruppo e liquidatorio, concentrazione della competenza dei tribunali, composizione assistita della crisi, riordino dei privilegi e nuove forme di garanzia
Premessa
In 2015, the energy sector accounted for more than one-half of all public company bankruptcy filings, including eight of the 10 largest filings. Current oil prices and bond values indicate that 2016 will be another active year. As of late January 2016, crude oil prices hovered around $30 per barrel. These low prices are reflected in the bond market, where in December 2015, approximately $80 billion in non-defaulted oil and gas debt was trading below 50 cents on the dollar.
On January 25, Lehman and JPMorgan announced a settlement to resolve several aspects of the contentious and multifaceted Lehman-JPMorgan dispute that has lingered throughout Lehman’s bankruptcy. The bankruptcy court will hear a motion to approve the settlement on February 8.