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Second Circuit determines that Argentine central bank is not alter ego of Argentina

Introduction

USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered, Central bank, Foreign Sovereign Immunities Act 1976 (USA), Second Circuit
First Circuit decision fails to relieve Puerto Rico's debt crisis

Introduction

Puerto Rico, USA, Insolvency & Restructuring, Litigation, Public, Caplin & Drysdale, Chartered, First Circuit
Justice Friedman allows breach of fiduciary duty claim to proceed against corporate directors under Delaware Law

In AP Services, LLP v. Lobell et. al, No. 651613/2012, 2015 NY Slip Op 31115(U) (N.Y. Sup. Ct. June 19, 2015) (argued Feb.

USA, Delaware, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Sheppard Mullin Richter & Hampton LLP, Breach of contract, Fiduciary
Supreme Court: decisions denying plan confirmation not appealable as of right

Introduction

USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered
Supreme Court rejects stripping-off of underwater mortgages in bankruptcy

In March 2015 in Bank of America NA v Caulkett the Supreme Court considered whether debtors in a Chapter 7 bankruptcy liquidation could invoke Section 506(d) of the Bankruptcy Code to void or 'strip off' the junior mortgage liens on their homes when the senior mortgage debt exceeded their homes' current value (for further details please see "Supreme Court considers junior liens on 'underwater' property").

USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered, Debtor, Bank of America
Wellness International: litigants may consent to adjudication by bankruptcy courts

Introduction

USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered, United States bankruptcy court
Supreme Court holds that bankruptcy courts can adjudicate Stern claims

In a 6-3 ruling, the U.S. Supreme Court held that bankruptcy courts have the authority to adjudicate Stern claims so long as the litigant parties provide “knowing and voluntary consent.”  This decision in Wellness International Network, et. al. v. Richard Sharif  provides much needed guidance as to the breadth and applicability of the Supreme Court’s 2011 decision in Stern v.

USA, Insolvency & Restructuring, Litigation, Sheppard Mullin Richter & Hampton LLP, United States bankruptcy court
Delaware Chancery Court holds that creditor plaintiffs in derivative suits may satisfy standing requirement by showing corporation’s insolvency at time of suit, regardless of later solvency

In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch.

USA, Delaware, Insolvency & Restructuring, Litigation, Sheppard Mullin Richter & Hampton LLP, Shareholder, Standing (law), Credit derivative, Delaware Court of Chancery
Supreme Court considers junior liens on 'underwater' property

Introduction

USA, Insolvency & Restructuring, Litigation, Caplin & Drysdale, Chartered, Debtor, Secured creditor, Eleventh Circuit
Fairfield Sentry and the limits of comity in Chapter 15 cases

Introduction

USA, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Caplin & Drysdale, Chartered, Comity, Intangible property, United States bankruptcy court