Highlights

Long-anticipated U.S. Supreme Court decision in Purdue Pharma shakes up the scope of bankruptcy releases

Insurers get increased ability to participate in bankruptcy cases

Overpayment of bankruptcy fees is not refundable to Chapter 11 debtors

Highlights

The Supreme Court held Section 363(m) is only a “statutory limitation” to accessing appellate relief in disputed bankruptcy sales that requires parties to take certain procedural steps to be effective

The Supreme Court also addressed mootness arguments and held that as long as parties have a concrete interest, however small, in the outcome of an appeal, the appeal should remain alive

The ruling provides insight as to how the Supreme Court may tackle the controversial doctrine of “equitable mootness”

Highlights

Counterparties should continue to follow their current contractual obligations

Silicon Valley Bank’s parent company bankruptcy filing will not impact contractual rights

Counterparties should be vigilant and consider alternate financing arrangements

Having acted for employers on four projects in the past year where the main contractors have become insolvent, here are my 15 top actions for employers to consider when faced with main contractor insolvency.

OVERVIEW

Legislation

OVERVIEW

Legislation

OVERVIEW

Jeremy Richmond QC and Benjamin Joseph contributed to the R3 Members' Magazine for their Case Summaries section. This was first published in the Winter 2021 edition of Recovery. 

Andrew v. Kingsway Asset Finance

Kireeva v Bedzhamov [2022] EWCA Civ 35 

Legislation

Highlights

On Jan. 10, the U.S. Supreme Court agreed to hear three cases, which present the following three questions:

Does a motion for relief from a final judgment that is premised on a legal error fall under Rule 60(b)(1) or 60(b)(6)?

Does the Constitution's provision for “uniform” bankruptcy laws permit Congress to implement Chapter 11 fee increases in different ways in different regions of the country?