The Supreme Court’s recent decision in Merit Mgmt. Group, LP v. FTI Consulting, Inc., 138 S.Ct. 883 (2018), held that transfers made by and to entities that are not “financial institutions” or other covered entities fall outside of the scope of the § 546(e) safe harbor even if they are made through financial institutions or other covered entities. The Supreme Court’s decision resolves a circuit split over how the § 546(e) safe harbor applies to transactions involving conduit entities and could impact future disputes involving safe harbors under the Bankruptcy Code.

The Supreme Court’s recent decision in Merit Management Group, LP v. FTI Consulting, Inc., 138 S.Ct. 883 (2018), held that transfers made by or to entities that are not “financial institutions” or other covered entities fall outside the scope of 11 U.S.C. § 546(e)’s “safe harbor” from a trustee’s avoidance powers under the Bankruptcy Code, even if those transfers are made through financial institutions or other covered entities.

In September 2017, the Australian government introduced the most significant reforms to Australia's insolvency regime for the past 30 years with the enactment of the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cth).

bakerlaw.com 1 Financial Services 2017 Year-End Report 2 FINANCIAL SERVICES 2017 YEAR-END REPORT Table of Contents Introduction 3 Litigation 4 Industry Developments 5 Representative Matters 7 Emerging Issues and Trends 8 Lending 10 Industry Developments 11 Representative Matters 11 Emerging Issues and Trends 12 Regulatory, Compliance and Licensing 13 Industry Developments 14 Representative Matters 16 Emerging Issues and Trends 16 Restructuring 18 Industry Developments 19 Representative Matters 19 Emerging Issues and Trends 20 Conclusion and Contact Us 22 3 FINANCIAL SERVICES 2017 YEAR-END R

There are unique and competing interests between the United States Bankruptcy Code1 and federal and state environmental laws. One of the primary purposes of the Bankruptcy Code is to allow a debtor to have a "fresh start." On the other hand, environmental laws are intended to require responsible parties to comply with environmental standards for the protection of human health and the environment. As a result of these competing interests, there has been extensive litigation related to the interplay between the bankruptcy and environmental regimes.

What you need to know in light of Seymour Whyte Constructions Pty Ltd v Ostwald Bros Pty Ltd (in liq)

The NSW Supreme Court recently handed down its decision in the matter of Seymour Whyte Constructions Pty Ltd v Ostwald Bros Pty Ltd (in liq); Ostwald Bros Pty Ltd (in liq) v Seymour Whyte Constructions Pty Ltd [2018] NSWSC 412, in which K&L Gates represented Seymour Whyte. The decision sheds light on numerous issues, including:

On March 20, Florida Governor Rick Scott signed Senate Bill 220 into law. The bill is designed to limit the ability of defendants in foreclosure proceedings to keep contesting the foreclosure after agreeing, in bankruptcy, to surrender the property to their lenders.

On 9 March 2018, in what was a highly anticipated judgment for many liquidators, the Queensland Court of Appeal reversed the controversial first instance Supreme Court decision in the matter of Linc Energy Pty Ltd (In Liquidation)1.

Background

Shortly prior to the appointment of liquidators to Linc Energy Limited (in Liquidation) (Linc) in May 2016, the Department of Environment & Heritage Protection (Department) issued an environmental protection order (EPO) to Linc in relation to its coal seam gas project at Chinchilla in Queensland.

FASHION LAW “Style is something each of us already has, all we need to do is find it.” – Diane von Furstenberg MARCH 2018 2 | K&L Gates: Fashion Law November 2017 Welcome to another packed edition of Fashion Law! Time has flown by and as we march through 2018, we are proud to continue our long standing sponsorship of the Virgin Australia Melbourne Fashion Festival (VAMFF). The Festival is a celebration of Australian designers and our rich fashion heritage, showcasing Australian talent on an international stage.

Last year the government introduced the most significant reforms to Australia's insolvency regime for over three decades. Among other changes, reforms that will come into effect on 1 July this year (or earlier by proclamation) will have a significant impact on the ability for counterparties to exercise certain rights under contractual provisions known as ipso facto clauses.