Alerts and Updates

The Court’s decision provides greater certainty for creditors who passively retain estate property that they obtained pre-petition.

The oil and gas industry in the United States is highly dependent upon an intricate set of agreements that allow oil and gas to be gathered from privately owned land. Historically, the dedication language in oil and gas gathering agreements—through which the rights to the oil or gas in specified land are dedicated—was viewed as being a covenant that ran with the land. That view was put to the test during the wave of oil and gas exploration company bankruptcies that began in 2014.

Alerts and Updates

The rule becomes effective one year after it is published in the Federal Register.

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB) issued a final rule revising Regulation F, 12 CFR part 1006, which implements the federal Fair Debt Collection Practices Act, 15 U.S.C. 1692, et seq. (FDCPA).

Alerts and Updates

The opinion is significant for a number of reasons, not least of which is that the Bankruptcy Court held that a make-whole premium is not a claim for unmatured interest as the Court of Appeals had intimated.

The past year has seen some important judgments and hearings (with judgment awaited at the time of writing) on several subjects, some of which may shape the future of UK litigation for years to come. Litigants and litigators have also spent a good part of the year getting used to a new way of conducting litigation—remotely and fully electronically. Starting with contract law, while there has been little by way of Supreme Court guidance on the subject, the lower courts continue to issue interesting judgments.

In In re Smith, (B.A.P. 10th Cir., Aug. 18, 2020), the U.S. Bankruptcy Appellate Panel for the U.S. Court of Appeals for the Tenth Circuit recently joined the majority of circuit courts of appeals in finding that a creditor seeking a judgment of nondischargeability must demonstrate that the injury caused by the prepetition debtor was both willful and malicious under Section 523(a)(6) of the Bankruptcy Code.

Factual Background

On August 26, 2020, the Court of Appeals for the Third Circuit held that the Bankruptcy Code does not require subordination agreements to be strictly enforced in order for a court to confirm a cramdown plan, so long as the plan does not discriminate unfairly.

Alerts and Updates

The Third Circuit’s ruling in In re Tribune provides important insight on what it means for a plan to unfairly discriminate.

Financial Restructuring & Insolvency/Finance A New Restructuring Plan

16 SEPTEMBER 2020

IN THIS ISSUE:

Introduction Process for Implementing a Plan Availability of the Plan Disenfranchisement of Creditors or Members Numerosity Cross-class Cram Down Moratorium Veto Pensions Opinion

Due to the COVID-19 pandemic, Mexican courts were closed for the past few months and only received urgent cases.

The COVID-19 pandemic has had a negative impact on the Mexican economy. As a result, Mexican courts have seen a rise in insolvency cases, which are not as common in Mexico compared to other jurisdictions, such as the United States. The rise of insolvency cases imposes new challenges to Mexican courts and Mexico’s laws.