Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

The Metavante ruling - in a case of first impression, US bankruptcy court limits ISDA counterparty rights upon a bankruptcy event of default

2009-12-03

For participants in the over-the-counter ("OTC") derivatives markets, perhaps the most significant recent US legal decision interpreting counterparty rights upon a bankruptcy event of default was the September 15, 2009 bench ruling in the US Lehman Brothers chapter 11 bankruptcy cases, In re Lehman Brothers Holdings, Inc., Case No. 08-13555 et seq. (JMP)(jointly administered) ("Bankruptcy Case").

Filed under:

USA, New York, Derivatives, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Debtor, Collateral (finance), Interest, Swap (finance), Foreclosure, Concession (contract), Liquidation, Default (finance), International Swaps and Derivatives Association, Lehman Brothers, Title 11 of the US Code, United States bankruptcy court

Location:

USA

Firm:

Reed Smith LLP

Distressed Tenants and Landlords' Options

2024-01-31

First, the not-so-great news in figures:

Filed under:

United Kingdom, Insolvency & Restructuring, Real Estate, Reed Smith LLP, Liquidation

Authors:

Katherine A. Campbell

Location:

United Kingdom

Firm:

Reed Smith LLP

Statute Broadly Defines “Claim” - Even Contingent / Unliquidated Future Breach Of Contract Claims are Captured

2024-05-02

In its most recent precedential bankruptcy decision, the United States Court of Appeals for the Third Circuit held that a claim for breach of contract – even “contingent” or “unliquidated” – is still a claim which can be discharged in a chapter 11 plan. In re Mallinckrodt PLC, No. 23-1111 (3d Cir. Apr. 25, 2024)

Filed under:

USA, Insolvency & Restructuring, Litigation, Reed Smith LLP

Authors:

Derek J. Baker

Location:

USA

Firm:

Reed Smith LLP

Distressed Tenants and Landlords' Options

2024-01-31

First, the not-so-great news in figures:

Filed under: