On October 29, 2021, Judge Laura Taylor Swain, the presiding judge in the Puerto Rico bankruptcy case, ruled that approximately $2 billion in intragovernmental loan claims were subordinated to bonds issued by the Puerto Rico Highway and Transportation Authority (“HTA”) pursuant to an assignment and security agreement.1 The Court’s opinion
In Holliday v. Credit Suisse Securities USA LLC, United States District Court for the Southern District of New York ("SDNY") Judge George B. Daniels affirmed the dismissal of state law transfer avoidance claims related to a leveraged securities buyout transaction.
Chul Man Kim, Sun Kyoung Kim, Sy Nae Kim and Woo Suk Jung, Yulchon LLC
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Abhishek Tripathi and Mani Gupta, Sarthak Advocates & Solicitors
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Heidi Chui, Stevenson, Wong & Co
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Hajime Ueno, Masaru Shibahara and Hiroki Nakamura, Nishimura & Asahi
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Rabindra S Nathan, Shearn Delamore & Co
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Swee Siang Boey, Vani Nair, Selina Toh and Suchitra Kumar, RPC Premier Law
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Nuo Ji, Lingqi Wang, Jessica Li and Sylvia Zhang, Fangda Partners
This is an extract from the 2022 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Lenders often require their borrowers to be “special purpose entities” in real estate transactions. This is a way that lenders can mitigate their bankruptcy risk in the event that the borrower or any of its parent entities file for bankruptcy. In addition, since most real estate financing is non-recourse, lenders require that the borrower is a separate, special purpose entity so that no other property or business will impact the property which is the subject of the underlying loan.