On September 10, 2024, the U.S. Court of Appeals for the Third Circuit issued its opinion in Wells Fargo Bank, N.A. v. The Hertz Corp. (In re The Hertz Corp.), Case No. 23-1169, 2024 WL 4132132 (3d Cir. Sept.

Alice Eaton Featured at Wharton’s PE and Venture Capital Conference

Restructuring partner Alice Eaton spoke on the panel “Adjusting to a New Era: Redefining Value Creation in Uncertain Times,” as part of the Wharton School of the University of Pennsylvania’s 2024 Private Equity and Venture Capital Conference on March 29. The panel covered the use of innovative financing instruments and structures for investments in distressed assets.

Elizabeth McColm Discusses Women in Restructuring at Winter Bankruptcy Conference

On April 22, 2024, in the chapter 11 cases of GOL Linhas Aéreas Inteligentes S.A.

Election of Joe Graham to Partner

Joe Graham was elected partner in the New York office. This year, Joe played a leading role in the chapter 11 cases of Avaya, Benefytt and Diamond Sports. He regularly advises on out-of-court restructurings, bankruptcy litigation and distressed investments. Joe earned his J.D., magna cum laude, and his B.A. from the University of Notre Dame.

Kelley Cornish Inducted into “M&A Advisor Hall of Fame”

On December 5, 2022, in In re Global Cord Blood Corp., 2022 WL 17478530 (Bankr. S.D.N.Y. Dec. 5, 2022) (“Global Cord”), the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) denied recognition of a proceeding pending in the Grand Court of the Cayman Islands (the “Cayman Proceeding” and the court, the “Cayman Court”) because it was more like a corporate governance and fraud remediation effort than a collective proceeding for the purpose of dealing with reorganization or liquidation, as Chapter 15 of the Bankruptcy Code requires.

On 27 July 2022, the European Union (Preventive Restructuring) Regulations 2022 (S.I. 380/2022) (the Regulations) amended the Irish Companies Act 2014 (the Act) by transposing certain requirements of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 (the Directive) not already provided for in Irish law.

This has resulted in a number of modifications to the examinership regime and, for the first time, a codification of directors' duties when companies are in the `zone of insolvency'.

The changes to the Examinership regime include:

Voyager Aviation Holdings, LLC (Voyager) is a privately held aircraft owner and lessor with approximately $2 billion in assets. Voyager is headquartered in Dublin and has offices in Stamford, Connecticut.

Earlier this year, A&L Goodbody LLP advised Voyager on the successful restructuring of its senior note obligations.1 The restructuring was implemented by way of a US exchange offer that simultaneously solicited support for both a "plan B" Irish scheme of arrangement and a "plan C" prepack US Chapter 11.

On August 5, 2021, the Eighth Circuit reversed a district court’s decision to dismiss a confirmation order appeal as equitably moot.[1] The doctrine of equitable mootness can require dismissal of an appeal of a bankruptcy court decision – typically, an order confirming a chapter 11 plan – on equitable grounds when third parties have engaged in significant irreversible transactions

On October 5, 2021, the Tenth Circuit joined the Second Circuit in concluding statutory fee increases that applied only to debtors filing for bankruptcy in judicial districts administered by the United States Trustee Program (the “US Trustee” or the “UST Program”) violated the U.S.