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Local Bankruptcy Rules Cannot Add Additional Chapter 13 Confirmation Requirements

Bankruptcy Judges cannot impose additional local chapter 13 confirmation requirements beyond those created by Congress, according to the Southern District of Illinois (the “District Court”).

USA, Insolvency & Restructuring, Litigation, Real Estate, Nelson Mullins Riley & Scarborough LLP, United States bankruptcy court
Does an Unsecured Creditors’ Committee Have an Absolute Right to Intervene in Adversary Proceedings? The First Circuit Says Yes

An Official Committee of Unsecured Creditors (“UCC”) often plays an active role in larger, more complex business bankruptcy cases. But what right, if any, does a UCC have to intervene in a bankruptcy adversary proceeding? The First Circuit Court of Appeals recently addressed this very issue in Assured Guaranty Corp., et al. v. The Financial Oversight and Management Board of Puerto Rico, et. al., 17-1831 (1st Cir. Sept. 22, 2017) (“Financial Oversight”) and ultimately held that a UCC does have such a right.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, First Circuit
TUPE does apply to transfers of companies in administration

Key2Law (Surrey) LLP -v- De' Antiquis [2011] EWCA Civ 1567

The Court of Appeal issued its long-awaited Judgment in the case of Key2Law (Surrey) LLP -v- De' Antiquis, confirming that businesses which are in administration are not exempted from TUPE.

United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, MacRoberts LLP, Transfer of Undertakings (Protection of Employment) Regulations 2006 (UK)