In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan’s effective date continues to be tax-exempt.
USA, Capital Markets, Insolvency & Restructuring, Tax, Mintz, Bond (finance), Tax exemption, Interest, Municipal bond, Internal Revenue Service (USA)
Introduction
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Introduction
Japan, Insolvency & Restructuring, Litigation, Jones Day, Surety, Debtor, Fraud, Liability (financial accounting)
Japan, Banking, Insolvency & Restructuring, Litigation, Jones Day, Debtor, Clearing house (finance), Debt
On March 1 2011 Tokyo District Court issued a decision which admitted the right of avoidance exercised by the court-appointed administrator of a corporate debtor in possession under civil rehabilitation proceedings, where the debtor company had settled a mortgage for a financing company as the real guarantor of its parent company.