Election of Joe Graham to Partner
Joe Graham was elected partner in the New York office. This year, Joe played a leading role in the chapter 11 cases of Avaya, Benefytt and Diamond Sports. He regularly advises on out-of-court restructurings, bankruptcy litigation and distressed investments. Joe earned his J.D., magna cum laude, and his B.A. from the University of Notre Dame.
Kelley Cornish Inducted into “M&A Advisor Hall of Fame”
On April 19, 2023, the U.S. Supreme Court unanimously held in MOAC Mall Holdings LLC v. Transform Holdco LLC that Section 363(m) of the Bankruptcy Code is not jurisdictional. The decision requires parties timely to invoke that provision, or else risk forfeiting its protections. The decision also continues the Supreme Court’s trend of interpreting statutes to be non-jurisdictional (and thus waivable or forfeitable) in the absence of a clear congressional statement to the contrary.
Background
Fifth Circuit Remands Bankruptcy Court’s Refusal to Abstain from Adjudicating Uri Storm-Related Pricing Claims |
On December 5, 2022, in In re Global Cord Blood Corp., 2022 WL 17478530 (Bankr. S.D.N.Y. Dec. 5, 2022) (“Global Cord”), the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) denied recognition of a proceeding pending in the Grand Court of the Cayman Islands (the “Cayman Proceeding” and the court, the “Cayman Court”) because it was more like a corporate governance and fraud remediation effort than a collective proceeding for the purpose of dealing with reorganization or liquidation, as Chapter 15 of the Bankruptcy Code requires.
The thing that strikes you the most about Paul, Weiss is the depth of the practice. They just have a large number of senior partners, all of whom are of an outstanding quality.
- Chambers USA, Band 1 for Bankruptcy/Restructuring (Nationwide and NYC) and "Bankruptcy Law Firm of the Year" in 2019
Paul, Weiss Helps NYC Taxi Drivers Restructure Debt to Keep Their Medallion
“以房抵债”安排，原常见于缓解开发商在开发过程中少量资金短缺的问题，但部分房地产企业逐渐将其演化作为平衡资金需求的工具，签订大量的“以房抵债”协议，在出现现金流危机、甚至濒临破产的情况下，无力偿还欠款，也无力建完房屋交付债权人，使得“以房抵债”的实现问题变得愈加尖锐。而在理论和实践中，“以房抵债”也存在较多的争议，即便表面上均具备相似的特征，由于个案事实细微的差别，或是裁判观点不同，导致不同的判决结果。故此，本文拟就“以房抵债”在破产程序中可能面临的不同效果进行梳理及探讨。
一、关于“以房抵债”的法律关系的厘清
实践中关于“以房抵债”存在着各种各样的约定，归纳起来，最为常见的为“以物抵债”类型的安排：通常发生在债务到期后（部分案件中可能发生在债务到期前），即以债务人或他人持有的房屋作为抵偿债务的“物”，通过折价转让给债权人的形式，实现债务清偿的目的。该种抵偿改变了原债权金钱给付的方式，在理论上，可称为“他种给付型以房抵债”。
The Ninth Circuit Court of Appeals held that in a solvent debtor case, unsecured creditors have an equitable right to postpetition interest at the applicable contractual or state law rate in order to be deemed unimpaired.
On August 5, 2021, the Eighth Circuit reversed a district court’s decision to dismiss a confirmation order appeal as equitably moot.[1] The doctrine of equitable mootness can require dismissal of an appeal of a bankruptcy court decision – typically, an order confirming a chapter 11 plan – on equitable grounds when third parties have engaged in significant irreversible transactions
On October 5, 2021, the Tenth Circuit joined the Second Circuit in concluding statutory fee increases that applied only to debtors filing for bankruptcy in judicial districts administered by the United States Trustee Program (the “US Trustee” or the “UST Program”) violated the U.S.