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Fifth Circuit: Make-Whole Premiums Should Be Disallowed as Unmatured Interest

Fifth Circuit finds that make-whole premiums should be considered unmatured interest subject to disallowance under Section 502(b)(2) of the Bankruptcy Code to the extent designed to compensate for future interest payments.

Overview

USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, United States bankruptcy court
Venezuela Restructuring: A Long Road Ahead?

Venezuela’s initiative is unlikely to set the stage for a restructuring of international obligations in the face of US sanctions.

Key Points:

• US sanctions will prohibit US persons from engaging in a restructuring of Venezuela and PdVSA debts that includes the issuance of “new” long term debt.

• Creditors should expect that enforcement action will follow a default. The outcomes of that enforcement action will affect all stakeholders, whether or not they participate.

Restructuring Announcement

USA, Venezuela, Insolvency & Restructuring, Trade & Customs, Latham & Watkins LLP, PDVSA
WARN Act decision: how private equity might avoid “single employer” status

Delaware Bankruptcy Court Holds that Private Equity Firm And Its Portfolio Company Are Not Liable Under Federal WARN Act

USA, Delaware, Employment & Labor, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Worker Adjustment and Retraining Notification Act 1988 (USA), United States bankruptcy court