A recent, highly anticipated ruling by a Bankruptcy Court in Delaware has reilluminated the concept of a "golden share". While an appeal of the ruling seems likely, this latest ruling by Delaware Bankruptcy Judge Mary F. Walrath suggests that as the COVID-19 outbreak continues to disrupt businesses and send shockwaves through the economy, courts may look at the specific circumstances of each case and weigh the interests of all corporate stakeholders in determining whether to enforce a "bankruptcy blocker".
What is a "Golden Share"?
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets
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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
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USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court
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USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Holding company, Office of the Comptroller of the Currency (USA), United States bankruptcy court
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On October 17, 2012, Back Yard Burgers, Inc.
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Debtor, United States bankruptcy court