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
    Senior class gifting is not the end of the story: some recent developments regarding the absolute priority rule and the new value exception
    2011-08-10

    Much attention in the commercial bankruptcy world has been devoted recently to judicial pronouncements concerning whether the practice of senior creditor class “gifting” to junior classes under a chapter 1 1 plan violates the Bankruptcy Code’s “absolute priority rule.” Comparatively little scrutiny, by contrast, has been directed toward significant developments in ongoing controversies in the courts regarding the absolute priority rule outside the realm of senior class gifting— namely, in connection with the “new value” exception to the rule and whether the rule was written out of the Bankr

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bond (finance), Bankruptcy, Shareholder, Debtor, Consent decree, Consumer protection, Interest, Federal Reporter, US Congress, Bank of America, SCOTUS, Seventh Circuit
    Authors:
    Charles M. Oellermann , Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Insider’s acquisition of claims to create accepting impaired class constitutes impermissible gerrymandering
    2007-08-02

    The strategic importance of classifying claims and interests under a chapter 11 plan is sometimes an invitation for creative machinations designed to muster adequate support for confirmation of the plan. Although the Bankruptcy Code unequivocally states that only “substantially similar” claims or interests can be classified together, it neither defines “substantial similarity” nor requires that all claims or interests fitting the description be classified together.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bond (finance), Shareholder, Debtor, Unsecured debt, Interest, Debt, Credit risk, Liquidation, Voting, Stakeholder (corporate), Substantial similarity, Title 11 of the US Code, Third Circuit
    Location:
    USA
    Firm:
    Jones Day
    Coeur défense: the application of the safeguard procedure
    2011-05-17

    The recent Cour de Cassation ruling in respect of the safeguard proceedings opened by Heart of La Défense SAS ("SAS Holdco") and its parent company, Sarl Dame Luxembourg ("Dame"), overturned the earlier decision of the Paris Court of Appeal in February 2010. The decision reinstated the safeguard proceedings of the two companies that were initiated in November 2008.

    Filed under:
    France, Insolvency & Restructuring, Litigation, Jones Day, Share (finance), Shareholder, Debtor, Debt, Due process, Default (finance), Credit rating, Lehman Brothers, Court of Appeal of Paris
    Authors:
    Laurent Assaya
    Location:
    France
    Firm:
    Jones Day
    Application of the absolute priority rule to pre-chapter 11 plan settlements: in search of the meaning of “fair and equitable”
    2007-05-31

    “Give ups” by senior classes of creditors to achieve confirmation of a plan have become an increasingly common feature of the chapter 11 process, as stakeholders strive to avoid disputes that can prolong the bankruptcy case and drain estate assets by driving up administrative costs.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Share (finance), Bankruptcy, Shareholder, Debtor, Unsecured debt, Dividends, Consideration, Liquidation, Secured creditor, Motorola, Second Circuit, United States bankruptcy court, First Circuit, Trustee
    Location:
    USA
    Firm:
    Jones Day
    The absolute priority rule: an endangered species in individual Chapter 11 cases?
    2012-04-09

    The absolute priority rule of Section 1129(b) of the Bankruptcy Code is a fundamental creditor protection in a Chapter 11 bankruptcy case. In general terms, the rule provides that if a class of unsecured creditors rejects a debtor’s reorganization plan and is not paid in full, junior creditors and equity interestholders may not receive or retain any property under the plan. The rule thus implements the general state-law principle that creditors are entitled to payment before shareholders, unless creditors agree to a different result.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), Bankruptcy, Shareholder, Debtor, Unsecured debt, Ninth Circuit, Bankruptcy Appellate Panel
    Authors:
    Robert J. Miller , Brian C. Walsh , Gwendolyn Godfrey
    Location:
    USA
    Firm:
    Bryan Cave Leighton Paisner (Bryan Cave)
    Good news and bad news for corporate managers dealing with insolvency issues
    2007-06-18

    Directors and officers of Delaware corporations face no liability to corporate creditors from direct claims for breach of fiduciary duty, under the Delaware Supreme Court’s recent ruling in North American Catholic Educational Programming Foundation, Inc. v. Gheewalla, (May 18, 2007) (“North American Catholic”).

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), Bond (finance), Bankruptcy, Shareholder, Debtor, Breach of contract, Fiduciary, Board of directors, Insider trading, Good faith, Due diligence, Non-disclosure agreement, Delaware General Corporation Law, US Securities and Exchange Commission, Barclays, Delaware Supreme Court, US District Court for SDNY, Colorado Supreme Court
    Location:
    USA
    Firm:
    Bryan Cave Leighton Paisner (Bryan Cave)
    Protecting the customer v depriving the supplier's creditors
    2010-04-09

    In the present fi nancial climate, customers are increasingly asking for business critical software or other assets to be transferred to the customer should the supplier become insolvent, for the legitimate reason that the customer needs security of supply. Two recent Court of Appeal cases remind us that customers who outsource to and contract with potentially vulnerable service providers need to take account of the “anti-deprivation principle” when doing this.

    Filed under:
    United Kingdom, Insolvency & Restructuring, IT & Data Protection, Litigation, RPC, Share (finance), Shareholder, Joint venture, Public limited company, Common law, Insolvency Act 1986 (UK)
    Authors:
    Vivien Tyrell
    Location:
    United Kingdom
    Firm:
    RPC
    Insolvency law reform proposals will push UK to more litigious US system
    2008-05-01

    The European High Yield Association's proposals for reforming the UK insolvency laws risk pushing the UK towards the US litigation-heavy model says Reynolds Porter Chamberlain LLP, the City law firm.

    In proposals submitted to HM Treasury, the trade body for the high yield debt industry called for a "court supervised restructuring process" where:

    Filed under:
    United Kingdom, Insolvency & Restructuring, RPC, Shareholder, Interest, Limited liability partnership, Debt, Supply chain, Distressed securities, HM Treasury (UK)
    Location:
    United Kingdom
    Firm:
    RPC
    IM litigation funding
    2008-03-13

    One pioneer in this area is Toby Duthie, the founder-director of Forensic Risk Alliance, a forensic accounting and investigations business. Duthie became familiar with the US litigation system while assisting European companies responding to US-based litigation. Duthie recognised that there were many differences between the US and the various EU legal systems. For example, unlike in the UK, the application of contingency fees to plaintiff actions is permissible in the US (see above).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, RPC, Costs in English law, Shareholder, Solicitor, Entrepreneurship
    Location:
    United Kingdom
    Firm:
    RPC
    Navigating through the storm
    2011-03-30

    There remains much economic uncertainty ahead and it seems that insolvency practices are likely to continue to remain important drivers in accountancy firms. However, insolvency practitioners are facing increased regulation and public scrutiny. They need to remain on top of their game to navigate safely through stormy waters, as Ross Goodrich reports.

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, RPC, Shareholder, Unsecured debt, Interest, Accounting, Economy, Liquidation, Liquidator (law), Office of Fair Trading, Institute of Chartered Accountants in England and Wales
    Location:
    United Kingdom
    Firm:
    RPC

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 69
    • Page 70
    • Page 71
    • Page 72
    • Current page 73
    • Page 74
    • Page 75
    • Page 76
    • Page 77
    • …
    • 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