Introduction
Background
Third Circuit's majority opinion
Dissent
Analysis
Successor claims as property of the estate
Introduction
Background
Release of non-debtors in US bankruptcy proceedings
Recognition and enforcement of foreign non-debtor releases
Limits on bankruptcy jurisdiction
Introduction
Shifting balance between international arbitration and bankruptcy
Arbitration clauses in US bankruptcy courts
Implications of Stern v Marshall
Introduction
Federal pre-emption
Section 546(e) safe harbour
Tribunecase and decision
Lyondell: background
Former shareholders in leveraged buyouts may be sued by the estate representative or by creditors to recover funds paid to them for their shares as fraudulent transfers under federal or state law if the debtor subsequently files for bankruptcy.
The credit default swap (“CDS”) has never been tested in bankruptcy proceedings on any significant scale, particularly under recent amendments to the Bankruptcy Code. In part, this is because the CDS market is a very recent phenomenon. CDS market participants also make considerable efforts to avoid holding a credit default swap where the counterparty has gone into bankruptcy.