Chief Judge Cecelia G. Morris of the Bankruptcy Court for the Southern District of New York decided that banks may not place an administrative freeze, even a temporary one, on the bank account of an individual who files for bankruptcy.

* This article was first published by INSOL International on April 17, 2015.

The bankruptcy case of Energy Future Holdings (EFH) and its affiliates has already provided the Delaware bankruptcy court occasion to tackle a number of important bankruptcy questions, including the propriety of using tender offers to settle noteholder claims during the pendency of the case.

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 recent Delaware District Court decision concerning an appeal of a bankruptcy settlement clearly provides support for the use of tender offers or other exchange, or settlement mechanics permitted under applicable federal securities laws prior to and outside a plan of reorganization. In essence, this decision permits debtors to utilize exchange offers to repurchase outstanding securities at a discount, or obtain more favorable terms during a bankruptcy proceeding and prior to confirmation of a plan of reorganization.

Case Summary

The Second Circuit in Krys v. Farnum Place (In re Fairfield Sentry Ltd.)¹ denied a petition for rehearing or rehearing en banc by Appellee Farnum Place, LLC (Farnum), a hedge fund that sought to protect its purchase of a $230 million claim against the bankruptcy estate of Bernard L.

* This article was first published by INSOL International on March 16, 2015.

Upholds Extraterritorial Application of 11 U.S.C. § 362 Automatic Stay

The Supreme Court of the United States declined[1] to review the decision of the United States Court of Appeals for the Fourth Circuit in Jaffé v.

Latham & Watkins operates worldwide as a limited liability partnership organized under the laws of the State of Delaware (USA) with affiliated limited liability partnerships conducting the practice in the United
Kingdom, France, Italy and Singapore and as affiliated partnerships conducting the practice in Hong Kong and Japan. The Law Office of Salman M. Al-Sudairi is Latham & Watkins associated office in the

German Federal Court of Justice decision paves the way for bond restructurings under 2009 Bonds Act.