Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Judgements Nos. 145/2012 and 161/2012, of March 21, 2012, by the Supreme Court: credits from agreements with reciprocal obligations which performance is ordered by the judge are credits against the insolvency estate
    2013-02-18

    The Supreme Court sets a precedent regarding the bankruptcy classification of the credits arising from contracts with reciprocal obligations whose performance is ordered by the judge in the interest of the bankruptcy: these are credits against the bankrupt estate independently of when they are originated.

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Cuatrecasas, Bankruptcy
    Authors:
    Íñigo Rubio Lasarte
    Location:
    Spain
    Firm:
    Cuatrecasas
    Judgment No. 373/2012, of June 20, 2012, by the Supreme Court: compensation for enforcement of the financial guarantee under RDL 5/5005 once bankruptcy is declared
    2013-02-18

    Compensation of a debt made after the debtor’s bankruptcy declaration via the appropriation of securities pledged by virtue of a financial guarantee, is admitted.

    The validity of a transaction assessed as “compensation” that was carried out after the bankruptcy declaration of the company in debt was questioned before the Supreme Court. The credit entity applied the value obtained from the reimbursement of an investment fund that had been pledged to secure a credit policy to reduce the debt.

    Filed under:
    Spain, Insolvency & Restructuring, Litigation, Cuatrecasas, Bankruptcy, Debt
    Authors:
    Íñigo Rubio Lasarte
    Location:
    Spain
    Firm:
    Cuatrecasas
    "Trade away!" Bankruptcy Court for the Southern District of New York decides that original issue discount from fair value exchanges is allowable in bankruptcy
    2014-03-31

    Debt exchanges have long been utilized by distressed companies to address liquidity concerns and to take advantage of beneficial market conditions. A company saddled with burdensome debt obligations, for example, may seek to exchange existing notes for new notes with the same outstanding principal but with borrower-favorable terms, like delayed payment or extended maturation dates (a "Face Value Exchange"). Or the company might seek to exchange existing notes for new notes with a lower face amount, motivated by discounted trading values for the existing notes (a "Fair Value Exchange").

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Debtor, Interest, Market liquidity, Debt, Fair market value, Second Circuit, United States bankruptcy court
    Location:
    USA
    Firm:
    Jones Day
    Stockton, California, ruling: bankruptcy court powerless to prevent retiree benefit reductions by municipal debtor
    2012-12-01

    Amid the economic hardships brought upon us by the Great Recession, the plight of cities, towns, and other municipalities across the U.S. has received a significant amount of media exposure. The media has been particularly interested in the spate of recent chapter 9 bankruptcy filings by Vallejo, Stockton, San Bernardino, and Mammoth Lakes, California; Jefferson County, Alabama; Harrisburg, Pennsylvania; and Central Falls, Rhode Island. A variety of factors have combined to create a virtual maelstrom of woes for U.S.

    Filed under:
    USA, California, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Public, Jones Day, Bankruptcy, Debtor, Foreclosure, Title 11 of the US Code, United States bankruptcy court
    Authors:
    Jeffrey B. Ellman (Jeff) , Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Proposed chapter 11 venue legislation introduced
    2011-10-13

    A significant consideration in a prospective chapter 11 debtor’s strategic prebankruptcy planning is the most favorable venue for the bankruptcy filing.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Debtor, Consideration, Administrative law, Collective bargaining, Stakeholder (corporate), Forum shopping, US House of Representatives, US House Committee on the Judiciary, United States bankruptcy court, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Jones Day
    Aircraft leasing update: second circuit gives liftoff to billions in unsecured tax indemnity claims
    2011-04-13

    When an airline goes bankrupt, do the owner participants in aircraft leverage-lease transactions have a right to recover on monetary claims (worth billions) based on tax indemnification agreements ("TIAs")? The answer lies in the meaning of the words "pay/paid/pays," which had been the subject of conflicting interpretations in the bankruptcy and district courts in the Northwest Airlines and Delta Air Lines bankruptcy cases.

    Filed under:
    USA, Aviation, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Unsecured debt, Interest, Debt, Tax deduction, Default (finance), Leverage (finance), Bankruptcy discharge, Second Circuit
    Location:
    USA
    Firm:
    Jones Day
    Death and taxes assured: confirmation of shell corporation’s tax-avoidance Chapter 11 plan denied
    2010-08-10

    Preservation of favorable tax attributes, such as net operating losses that might otherwise be forfeited under applicable nonbankruptcy law, is an important component of a business debtor's chapter 11 strategy. However, if the principal purpose of a chapter 11 plan is to avoid paying taxes, rather than to effect a reorganization or the orderly liquidation of the debtor, the Bankruptcy Code contains a number of tools that can be wielded to thwart confirmation of the plan.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Tax, Jones Day, Bond (finance), Tax exemption, Bankruptcy, Shareholder, Debtor, Taxable income, Beneficiary, Debt, Liquidation, Tax deduction, Title 11 of the US Code, Internal Revenue Code (USA)
    Authors:
    Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Petition rather than transfer date valuation of collateral appropriate in determining secured creditor's preference liability
    2008-04-22

    Valuation is a critical and indispensable part of the bankruptcy process. How collateral and other estate assets (and even creditor claims) are valued will determine a wide range of issues, from a secured creditor’s right to adequate protection, post-petition interest, or relief from the automatic stay to a proposed chapter 11 plan’s satisfaction of the “best interests” test or whether a “cram-down” plan can be confirmed despite the objections of dissenting creditors.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Retail, Collateral (finance), Interest, Liability (financial accounting), Liquidation, Secured creditor, Valuation (finance), United States bankruptcy court
    Location:
    USA
    Firm:
    Jones Day
    Parties other than landlords have standing to prevent assignment of a tenant's lease in bankruptcy
    2007-07-02

    When a retail business becomes a debtor in bankruptcy, it often decides to trim its operations by closing some of its retail stores. This strategy inevitably leaves the debtor with unnecessary leases. Instead of simply rejecting the leases, retail debtors often assume the agreements and assign them to other entities. The assumption and assignment of the unnecessary leases may allow a debtor to avoid potentially significant rejection damage claims from landlords.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Real Estate, Jones Day, Bankruptcy, Retail, Debtor, Landlord, Leasehold estate, Covenant (law), Standing (law), Legal burden of proof, Default (finance), Investment company, Walgreens, United States bankruptcy court
    Location:
    USA
    Firm:
    Jones Day
    From the top in brief - March/April 2014
    2014-03-31

    In its first bankruptcy decision of 2014 (October Term, 2013), the U.S. Supreme Court held on March 4, 2014, in Law v. Siegel, No. 12-5196 (Mar. 4, 2014) (available athttp://www.supremecourt.gov/opinions/13pdf/12-5196_8mjp.pdf), that a bankruptcy court cannot impose a surcharge on exempt property due to a chapter 7 debtor's misconduct, acknowledging that the Supreme Court's decision may create "inequitable results" for trustees and creditors.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Debtor, Federal Insurance Contributions Act tax, United States bankruptcy court, Third Circuit
    Authors:
    Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 574
    • Page 575
    • Page 576
    • Page 577
    • Current page 578
    • Page 579
    • Page 580
    • Page 581
    • Page 582
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days