Major legislative changes
Reform of English corporate insolvency framework
The Insolvency Service is reviewing responses to its consultation on significant reforms designed to improve the restructuring tools available to companies. These include:
In the latest decision to emanate from the Madoff bankruptcy, the United States District Court for the Southern District of New York denied the appeal of a protective order that relieved Irving Picard—the court-appointed trustee—from answering discovery requests regarding his compensation arrangement with his law firm.
While you can probably think of other contenders, if any case “resembles the walking dead,” it is the recent case of In re Commonwealth Renewable Energy, Inc. In Commonwealth, the court was faced with a motion to dismiss the debtor’s chapter 11 case pursuant to
The Weil Bankruptcy Blog frequently writes on issues revolving around equitable mootness (See Equitable Mootness on Life Support: The Third Circuit Further Pares Back the Abstention Doctrine in One2One Communications,
What happens when the counterparties on both sides of a contract are debtors in separate bankruptcy cases and their estates have contrary views about whether to reject or assume a contract?
As we previously reported here at the Weil Bankruptcy Blog, in Burberry Limited and Burberry USA v.
Unsecured Creditors and Postpetition Interest – the EFH Court’s Analysis
Generally when parties to a dispute work out a settlement they can breathe a sigh of relief and put their differences behind them. OK – it’s a little more complicated than that when one of the parties is a chapter 11 debtor that must seek relief from the bankruptcy court to approve the settlement. But what if a party objects? Things get a bit more complicated. And what if the objecting party has no apparent pecuniary interest at stake? In that scenario, the settling parties can rest a little easier as the bankruptcy court in
After a busy term last Spring that saw the United States Supreme Court issue decisions in Bank of America, N.A. v. Caulkett and Baker Botts v.