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The Fifth Circuit’s German Pellets Decision: A Cautionary Tale for Creditors and Other Contract Parties on the Dangers of Staying on the Sidelines of a Bankruptcy

In its recent German Pellets decision, the Fifth Circuit held that a creditor could not assert its indemnification defenses in a suit brought by the trustee of a liquidation trust because the Chapter 11 plan’s express language permanently enjoined the defenses and the creditor chose not to participate in the debtor’s bankruptcy despite having actual knowledge of it.

USA, Insolvency & Restructuring, Litigation, Hunton Andrews Kurth LLP
Silicon Valley Bank: What the 2nd Largest US Bank Failure Means for Policyholders

In the second largest US bank failure since the 2008 global financial crisis, the California Department of Financial Protection and Innovation took over Silicon Valley Bank (“SVB”) on March 10 and appointed the Federal Deposit Insurance Corporation (“FDIC”) as SVB’s receiver. Just two days later, the New York State Department of Financial Services took over another bank, Signature Bank, and appointed the FDIC as receiver. And, yesterday, the share price of various European banks plunged following record one-day selloffs.

USA, Banking, Insolvency & Restructuring, Hunton Andrews Kurth LLP, Venture capital, Due diligence, Insolvency, Federal Deposit Insurance Corporation (USA), US Department of the Treasury, HSBC, Silicon Valley Bank