Supreme Court’s judgment on the effectiveness of security for parallel debt

On 9 October 2009, a three-judge panel of the Supreme Court issued a judgment (file no. IV CSK 145/09), in which it ruled that the Polish legal system provides for the possibility to secure claims under a parallel debt (created under foreign law).

Facts of the case

Filed under:
Poland, Banking, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Bankruptcy, Debtor, Limited liability company, Debt, SCOTUS
Location:
Poland
Firm:
Norton Rose Fulbright
Dubai World restructuring - the legislation and how it may work

On Monday 14 December 2009 the Dubai Financial Support Fund received a further US$10bn from the Abu Dhabi Government to be used to satisfy a series of upcoming obligations of Dubai World and its subsidiaries (“DWG”). The monies were used in part to pay off the Nakheel sukuk which matured on the same day. The markets in the region (and elsewhere) reacted positively with significant gains and Dubai's CDS spreads narrowed. That same afternoon the Dubai Government announced a new law (Decree No. 57). Sheikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, said:

Filed under:
United Arab Emirates, Insolvency & Restructuring, Norton Rose Fulbright, Debtor, Injunction, Common law
Location:
United Arab Emirates
Firm:
Norton Rose Fulbright
Back to Square One … Eighth Circuit Bankruptcy Appellate Panel Reverses Motion to Dismiss Bankruptcy Case Based on Reversal of Three Year Old Ruling

We have written on other occasions on Civic Partners Sioux City, LLC.

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, Debt, Mortgage loan, United States bankruptcy court, Bankruptcy Appellate Panel
Location:
USA
Firm:
Weil Gotshal & Manges LLP