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Supreme Court Ends Third-Party Releases in Bankruptcy

Harrington v. Purdue Pharma L.P., 144 S. Ct. 2017 (June 27, 2024)

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Chapter 11, US Bankruptcy Code, Supreme Court of the United States, Pharmaceuticals, Pharmaceuticals & chemicals
Silicon Valley Bank Parent Company Files for Bankruptcy

SVB Financial Group, the corporate parent of Silicon Valley Bank, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York on March 17. According to a press release issued by SVB Financial Group, its related entities SVB Securities and SVB Capital are not included in the Chapter 11 filing. This bankruptcy filing comes a week after regulators took control of the failed Silicon Valley Bank.

USA, Company & Commercial, Insolvency & Restructuring, Frost Brown Todd LLP, Silicon Valley Bank
The Omnibus is finally here: changes to Singapore’s insolvency laws

Singapore’s Insolvency, Restructuring and Dissolution Act (the “IRDA“), together with 48 pieces of subsidiary legislation, comes into force today, 30 July 2020 (available here).

Singapore, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Coronavirus
Singapore Court of Appeal introduces a lower standard of review for debtors defending a disputed debt that is subject to an arbitration agreement

In AnAn Group (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33, Justice Steven Chong, delivering the judgment of the Court, (1) overturned the decision of the High Court which allowed a creditor (VTB Bank) to proceed with its winding up petition against a debtor (AnAn), and (2) upheld the arbitration agreement pursuant to which the dispute underlying the debt should first be resolved.

Singapore, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP