Fulltext Search
I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

They say every man needs protection, they say that every man must fall.1

USA, Insolvency & Restructuring, Litigation, Mayer Brown, Bankruptcy, Supreme Court of the United States
Southern District of New York Holds That Bankruptcy Court Lacks Statutory Authority to Approve Non-Consensual Third-Party Releases

In a December 16, 2021, decision,1 Judge Colleen McMahon of the US District Court for the Southern District of New York reversed the bankruptcy court order confirming the Chapter 11 plan of Purdue Pharma, L.P.

USA, New York, Insolvency & Restructuring, Litigation, Mayer Brown, US District Court for the Southern District of New York
Cooperation Arrangement for Cross-border Corporate Insolvency and Debt Restructuring Proceedings Established between Mainland China and Hong Kong

A new cooperation arrangement for mutual recognition of and assistance to cross-border corporate insolvency and debt restructuring proceedings has been established between Mainland China and Hong Kong (the Cooperation Arrangement).

The Cooperation Arrangement is provided in a Record of Meeting on Mutual Recognition of and Assistance to Bankruptcy (Insolvency) proceedings between the Courts of the Mainland and of the Hong Kong Special Administrative Region (the ROM) signed by the Mainland’s Supreme People's Court (SPC) and Hong Kong’s Department of Justice on 14 May 2021.

China, Hong Kong, Insolvency & Restructuring, Litigation, Mayer Brown