Introduction
Disallowance of Claims of Avoidable Transfer Recipients
Firestar Diamond
The Bankruptcy Court's Ruling
Outlook

The Swiss Insurance Oversight Act has been subject to a partial revision in order to bring the protection of insurance customers in line with international developments and to improve the competitiveness of the Swiss insurance sector. The new provisions include a new insolvency restructuring regime, a customer categorisation making supervisory requirements proportional to the protection required by customers as well as new rules of conduct applicable to insurance undertakings and intermediaries.

Introduction
Derivative Standing
Dura Automotive
The Bankruptcy Court's Ruling
The McClatchy Company
Outlook

Introduction

WHOA Dutch scheme of arrangement LAW & TAX I Introduction 1. This memorandum describes the bill on court sanctioning private composition to avoid bankruptcy (de Wet homologatie onderhands akkoord ter voorkoming van faillissement, the WHOA or the Dutch Scheme). The WHOA introduces the possibility in the Netherlands for companies to offer a composition to its creditors outside an insolvency proceeding.1 The WHOA will enter into force on 1 January 2021. II The WHOA II.1 Offering a composition: by whom? 2.

Introduction
Cram-Up Through Reinstatement
Indubitable Equivalent Cram-Up
Notable Court Rulings
Outlook

Introduction

The EMEA Determinations Committee's recent bankruptcy determination involving Selecta CDS provides additional insight on the types of chapter 15 filings that are likely to trigger Credit Events.

The Bankruptcy Code's Swap Agreement Safe Harbor
Lehman
The Second Circuit's Ruling
Outlook

Courts sometimes disagree over whether provisions in a borrower's organizational documents designed to prevent the borrower from filing for bankruptcy are enforceable as a matter of federal public policy or applicable state law. There has been a handful of court rulings addressing this issue in recent years, with mixed results.

"Safe harbors" in the Bankruptcy Code designed to insulate non-debtor parties to financial contracts from the consequences that normally ensue when a counterparty files for bankruptcy have been the focus of a considerable amount of scrutiny as part of evolving developments in the pandemic-driven downturn. One of the most recent developments concerning this issue in the courts was the subject of a ruling handed down by the U.S. Court of Appeals for the Second Circuit in connection with the landmark chapter 11 cases of Lehman Brothers Holdings Inc. ("Lehman") and its affiliates.

The practice of conferring "derivative standing" on official creditors' committees to assert claims on behalf of a bankruptcy estate in cases where the debtor or a bankruptcy trustee is unwilling or unable to do so is a well-established means of generating value for the estate from litigation recoveries. However, in a series of recent decisions, the Delaware bankruptcy courts have limited the practice in cases where applicable non-bankruptcy state law provides that creditors do not have standing to bring claims on behalf of certain entities.