In a highly anticipated bankruptcy opinion, the United States Supreme Court, in Czyzewski v. Jevic Holding Corp., held that courts may not approve structured dismissals providing for distributions that deviate from the priority rules prescribed in the Bankruptcy Code, absent consent of the affected creditors.

Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their affiliates, are now subject to recordkeeping requirements related to their “qualified financial contracts”1 (QFCs).

A debtor ordinarily may discharge debts in bankruptcy, unless one of several exceptions apply. One of the preclusions to dischargeability of certain debts, found in Section 523(a)(19) of the U.S.

No, says the U.S. Court of Appeals for the Tenth Circuit in In re Cowen, adopting the minority rule and parting ways with four other Courts of Appeals.

The doctrine of substantive consolidation (generally- the power of a bankruptcy court to consolidate the assets and liabilities of affiliated entities in bankruptcy) is a recognized remedy exercised by bankruptcy courts – one that strikes fear into the hearts of many lenders. Justifiably so. The doctrine can be employed to order the substantive consolidation of related-debtor entities in bankruptcy and it can also be employed to substantively consolidate the assets of a debtor in bankruptcy with those of a related entity that is not a debtor in bankruptcy.

In a 2-1 opinion, the Second Circuit overruled the district court in Marblegate Asset Management LLC v. Education Management Corp., finding no violation of the Trust Indenture Act (“TIA”) in connection with an out-of-court debt restructuring.

Background

El Tribunal Supremo rechaza el ejercicio de las acciones rescisorias especiales del Derecho concursal contra una escisión de sociedades inscrita en el Registro Mercantil, y afirma que la protección de los acreedores debe realizarse por vía resarcitoria.

El Tribunal Constitucional confirma la constitucionalidad de las exigencias y requisitos legales para poder acceder al recurso de suplicación.

Este post trata de analizar el alcance la Sentencia del Tribunal Constitucional 173/2016, de 17 de octubre, así como de la de la doctrina del mismo órgano que la precede y que es sintetizada en la misma.

La sentencia de 10 de noviembre de 2016 de la sala cuarta del TJUE se ha pronunciado sobre los requisitos que deben reunir las prendas de cuenta corriente para quedar cubiertas por el régimen de garantías financieras de la Directiva 47/2002.

El TJUE ha respondido a las cuestiones prejudiciales elevadas por el Tribunal Supremo de Letonia sobre el ámbito de aplicación de la Directiva, después de que los órganos de primera instancia y de apelación letones desestimaran la demanda interpuesta por una compañía letona frente a una entidad financiera.

The European Commission (EC) announced proposals on 22 November 2016, which are intended to harmonise national insolvency laws across the EU through a proposed directive “on preventative restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures” (Directive). The Directive will need to be passed by the European Council and European Parliament. Then, EU Member States would be required to adopt the Directive’s provisions into their respective national laws within two years from the date of its entry into force.