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On July 5, 2022, New York-based cryptocurrency exchange, Voyager Digital Holdings, Inc. along with its publicly traded Canadian affiliate, Voyager Digital Ltd., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10943). The company reports $1 to $10 billion in both assets and liabilities.

On July 5, 2022, Scandinavian airline SAS AB, along with several affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10925), reporting $10 to $50 billion in assets and $1 to $10 billion in liabilities.

On June 30, 2022, Palo Alto, California-based mobile technology retailer pairing company Enjoy Technology, Inc., along with two affiliates, who provide a revolutionary commerce-at-home experience for consumers through the companies’ network of mobile retail stores, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No.

On June 29, 2022, New York City-based Madison Square Boys & Girls Club, Inc. (the “Club”), a non-profit aimed to save and enhance the lives of underserved boys and girls through after school programming and youth development services, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10910).

On June 30, 2022, Plano, Texas-based mortgage lender First Guaranty Mortgage Corp. (“FGMC”), filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10584). FGMC reports $500 million to $1 billion in both assets and liabilities.

在当今国际国内供应链债务违约增多的背景下,作为供应链体系中重要支付手段的票据违约也不断集中爆发。当票据违约遭遇票据当事人破产,持票人追偿票据债权将更为困难和复杂。本文主要探讨不同破产情形下持票人行权的策略,以及破产重整计划对持票人行使追索权的可能影响,望对供应链行业交易合规和纠纷解决有所启发。

一、承兑人或出票人破产情形下,持票人追偿票据债权的策略选择

以往银行汇票较少出现承兑人(或付款人)破产的情形,多为出票人破产,但近些年如包商银行破产、以及大型企业集团破产带来的其集团财务公司破产,使得银行汇票中承兑人破产也成为了现实问题。就商业汇票而言,出票人与付款人/承兑人可能为同一主体,也可能为不同主体,均有可能陷入破产困境。在不同情形下持票人追偿债权的可能策略,值得探讨。

Stimwave Technologies Inc., a Pompano Beach, Fla.-based medical device manufacturer and provider of permanently implanted neurostimulation products for chronic pain, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10541).

Shortly before midnight on June 15, 2022, cosmetic giant Revlon, Inc., along with several subsidiaries, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 22-10760).

On June 1, 2022, Charlotte N.C.-based GT Real Estate Holdings, LLC, the company Carolina Panthers owner David Tepper created specifically for the Panthers new headquarters project in Rock Hill, S.C., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for District of Delaware after the deal to develop the new facility collapsed (Case No. 22-10505).

On June 1, 2022, California-based Zosano Pharma Corporation, a clinical-stage biopharmaceutical company enabling the systemic administration of therapeutics and other bioactive molecules to patients using a proprietary transdermal microneedle patch system, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for District of Delaware (Case No. 22-10506).