• The U.S.

Two courts recently answered “yes,” finding that environmental claims brought against reorganized debtors by government entities were discharged under confirmed Chapter 11 plans of reorganization. In In re Exide Techs., 613 B.R. 79 (D. Del. 2020), the District of Delaware held that pre-petition, non-compensatory air quality penalties imposed on a Chapter 11 debtor by a state regulator were subject to discharge in bankruptcy. And in In re Peabody Energy Corp.

I.Exide Techs.: the Bankruptcy Code’s Exceptions to Dischargeability

On March 27, 2020, Congress enacted, and President Trump signed into law, the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide financial relief to individuals and small business harmed by the coronavirus disease 2019 (COVID-19) pandemic. The CARES Act included an initial allocation of $349 billion to the Paycheck Protection Program (PPP), a convertible loan program under Section 7 of the Small Business Act (SBA).

On May 1, 2020, in connection with the bankruptcy sale of Dean Foods Company (“Dean Foods”), the Department of Justice Antitrust Division required divestiture of certain Dean Foods assets by Dairy Farmers of America Inc. (“DFA”). DFA and Prairie Farms Dairy Inc. (“Prairie Farms”) were acquiring fluid milk processing plants from Dean Foods.

Yes, says the First Circuit. The First Circuit recently affirmed the District Court’s decision to deny a group of bondholders’ (the “Bondholders”) motion to have a trustee appointed for the Employees Retirement System of the Government of the Commonwealth of Puerto Rico (the “System”) under section 926 of the Bankruptcy Code. Section 926 of the Bankruptcy Code allows a court to appoint a trustee to pursue avoidance actions in Chapter 9 cases.

In response to the COVID-19 outbreak, the British Columbia Supreme Court (the “Court”) has suspended regular operations at all of its locations from March 19^th, 2020 to May 29^th, 2020 (the “Suspension Period”).^[1] In an effort to balance the seriousness of the situation with the principles of open courts and timely access to justice, the Court continues to hear certain “urgen

Following the outbreak of the novel coronavirus (COVID-19) which has seen the global economy descend into a state of turmoil, companies around the world strive to weather the storm of unprecedented challenges to their businesses. As Malaysia undergoes the fourth phase of its Movement Control Order to further curb the spread of COVID-19, companies are already planning or putting in place the necessary measures to soften the impact of COVID-19 on their businesses.

In the decision of Goyal ^[1] handed down on 7 April 2020, Justice Markovic of the Federal Court has given approval to liquidators to enter into a litigation funding agreement under section 477(2B) of the Corporations Act 2001 (Cth).

One of the first tasks required of an administrator appointed to a company is to facilitate communications with creditors and conduct creditors’ meetings.

The below decision considers these tasks against the backdrop of public health orders designed to reduce the spread of COVID-19, and the Court’s continued broad application of section 447A of the Corporation Act 2001(Cth) (Act) and section 90-15 of the Insolvency Practice Schedule (Corporations)(Schedule).

The High Court has dismissed applications to restrain the presentation of winding up petitions for reasons relating to the Covid-19 pandemic.