German legislator finally introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect.
Germany, Insolvency & Restructuring, Tax, Latham & Watkins LLP, Tax exemption, Debtor, Waiver, Limited liability partnership
To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties.
Recently, several courts have added to the growing body of decisions construing intercreditor agreements in bankruptcy cases.
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Bankruptcy, Debtor, Collateral (finance), Waiver, Interest, Debt, Mortgage loan, Federal Communications Commission (USA), United States bankruptcy court
3V Capital Master Fund LTD. v. Official Comm. of Unsecured Creditors of TOUSA, Inc. (In re TOUSA, Inc.), 2011 U.S. Dist. LEXIS 14019 (S.D. Fla. Feb. 11, 2011).
USA, Florida, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Bond (finance), Bankruptcy, Surety, Debtor, Unsecured debt, Breach of contract, Interest, Debt, Subsidiary, Secured loan, Title 11 of the US Code, United States bankruptcy court, Eleventh Circuit, US District Court for Southern District of Florida