Delaware has long been the bellwether for law concerning the duties that corporate officers and directors owe to a company and its creditors, and Florida courts often look to Delaware cases and compelling authority in evaluating disputes alleging breaches of fiduciary duties by directors or officers.  A recent significant Delaware opinion has helped clarify what duties officers and directors owe to whom and when.  In Quadrant Structured Products Co. v. Vertin, 2015 WL 2062115 *1 (Del. Ch.

Hybrid US/European restructurings can lead to unexpected commercial outcomes because of different practices in intercreditor agreements.

People often enter into agreements through which a person or entity borrows money in exchange for a security interest on property that he or it owns. However, in drafting an agreement which establishes a security interest, it is important to make sure that the document is legally enforceable. The bankruptcy court’s order granting summary judgment in Theresa Bender v. Christopher James, Case No. 14-01001-KKS, ECF No. 50 (Bankr. N.D. Fla. Feb. 11, 2015) demonstrates the importance of making sure that such an agreement contains an adequate description of the collateral.

Double First: A Ukrainian group of companies breaks ground — first by changing the governing law of its high yield bonds from US to English law and then by being the first Ukrainian-based group to restructure via an English law scheme of arrangement The Debate: Chapter 11 vs Scheme of Arrangement The restructuring market has for some time been engaged in a spirited debate about the appropriate forum in which to restructure US law governed high yield (HY) bonds issued by European and American corporates.

Bankruptcy Court reinforces importance of parties’ intent in determining the nature of overriding royalty interests under state law.

Creditors of an entity or individual who is not paying its or his debts as they ordinarily come due may seek to have the alleged debtor adjudicated a bankrupt by the filing of an involuntary petition.  Section 303 of the Bankruptcy Code governs the filing of involuntary bankruptcy petitions and allows creditors to force debtors into a liquidation or reorganization.

2015 Edition A Practical Guide to Russian Restructurings A PRACTICAL GUIDE TO RUSSIAN RESTRUCTURINGS Introduction Restructurings are likely to be a major topic in the Russian Federation during 2015 and beyond. From a legal perspective, the legislation pertaining to restructurings and insolvencies has benefited from a number of positive developments in recent years. In particular, the amendments which were introduced into the Civil Code1 at the end of 20132 (the Civil Code Amendments) and the Insolvency Law3 at the end of December 20144 represent a significant step forward.

A commercial landlord’s failure to terminate properly a commercial lease can lead to long drawn-out legal battles between the commercial landlord and tenant, before and after the tenant files for chapter 11 bankruptcy protection.  In particular, a commercial landlord’s failure to elect and effectively pursue its remedy of lease termination may preclude any subsequent action in bankruptcy to gain possession of the premises even after a writ of possession has issued.

Since 2008, many individuals have been looking for investments outside of bonds or the stock market that provide guaranteed payments at higher rates of return.  Some have turned to investing in precious metals, while others have looked to investing in life insurance policies.  Many are familiar with the word “viaticals” that became well known during the 1980’s, when people began purchasing life insurance policies on the lives of people with chronic or terminal illnesses, such as AIDS.  With viaticals, the insured usually had a limited life expectancy and the owner of the viat

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