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
    Recognition of US plan confirmation order under the CCAA
    2010-11-16

    In the recent decision in Re Xerium Technologies Inc.1, the Ontario Superior Court of Justice recognized an order made by the U.S. Bankruptcy Court for the District of Delaware that confirmed the debtor’s pre-packaged Chapter 11 plan of reorganization. The decision provides useful guidance on how the Ontario Court may consider similar applications in the future. Many will take comfort from the fact that the decision revisits a number of relevant factors established in case law that pre-dates the current formulation of the cross-border provisions that make up Part IV of the CCA A.

    Filed under:
    Canada, USA, Delaware, Ontario, Insolvency & Restructuring, Litigation, McMillan LLP, Credit (finance), Debtor, Discovery, Liquidation, Good faith, Comity, Solicitation, Subsidiary, Supplemental jurisdiction, UNCITRAL, Title 11 of the US Code, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    Adam C. Maerov
    Location:
    Canada, USA
    Firm:
    McMillan LLP
    Dismissal of Involuntary Bankruptcy Petition Against Taberna CDO is Win for Securitization Industry
    2018-11-20

    On November 8, 2018, Judge Vyskocil of the U.S. Bankruptcy Court for the Southern District of New York issued a decision dismissing the involuntary petition that had been filed against Taberna Preferred Funding IV, Ltd. (“Taberna”), a non-recourse CDO, thus ending a nearly seventeen-month-long saga that was followed closely by bankruptcy practitioners and securitization professionals alike. SeeTaberna Preferred Funding IV, Ltd. v. Opportunities II Ltd., et. al., (In re Taberna Preferred Funding IV, Ltd.), No. 17-11628 (MKV), 2018 WL 5880918, at *24 (Bankr.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Bankruptcy, Amicus curiae, Consent, Liquidation, Solicitation, Tender offer
    Authors:
    Michele C. Maman , Neil J. Weidner , Andrew M. Greenberg
    Location:
    USA
    Firm:
    Cadwalader Wickersham & Taft LLP
    Creditors and professionals: take notice if you want to serve on or represent a creditors’ committee in Delaware
    2010-11-10

    Last Thursday, a Delaware Bankruptcy Court disqualified two law firms from representing an Official Committee of Unsecured Creditors based on their conduct in soliciting proxies from creditors who were not existing firm clients. In re Universal Building Products, No. 10-12453 (Bankr. D. Del. Nov. 4, 2010), involved an extreme fact pattern but it may nonetheless have a substantial effect not only on the selection of professionals for future Committees but also on the appointment of creditors to Committees, at least in Delaware.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Bracewell LLP, Bankruptcy, Debtor, Interest, Proxy voting, Solicitation, US House Committee on Rules, Title 11 of the US Code, Trustee, United States bankruptcy court
    Location:
    USA
    Firm:
    Bracewell LLP
    Fiduciary duty not a defense to breach of exclusivity provision
    2010-11-29

    The Delaware Court of Chancery has held the seller in an asset purchase transaction liable for breach of an exclusivity provision in the subject asset purchase agreement, dismissing the seller's argument that the fiduciary duties owed by management to creditors negate the contractual exclusivity provision.

    Filed under:
    USA, Delaware, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Herrick Feinstein LLP, Breach of contract, Fiduciary, Limited liability company, Debt, Solicitation, Refinancing, Delaware Court of Chancery, Court of equity
    Authors:
    Edward Stevenson , Irwin Kishner
    Location:
    USA
    Firm:
    Herrick Feinstein LLP
    Labor and employment issues in special servicer and other third-party management agreements
    2011-04-11

    When a special servicer or third-party manager takes over a distressed asset or franchise, no one thinks about labor and employment issues until a problem surfaces. While a special servicer or third-party manager with its own employees in the area can usually expect a smooth transition, these arrangements often occur in places that are far-removed from the headquarters or home office. A special servicer may simply assume that it is taking over the former operator’s employees, and not think twice about other labor issues.

    Filed under:
    USA, Employment & Labor, Franchising, Insolvency & Restructuring, Baker Donelson Bearman Caldwell & Berkowitz PC, Breach of contract, Discrimination, Government agency, Solicitation, Anti-discrimination law, Equal Employment Opportunity Commission (USA)
    Authors:
    Wesley C. Redmond
    Location:
    USA
    Firm:
    Baker Donelson Bearman Caldwell & Berkowitz PC
    Supreme Court adopts amendments to Bankruptcy Rule 2019 on disclosure requirements for multiple creditors and equity security holders acting in concert in Chapter 11 cases
    2011-04-29

    On April 26, 2011, the Supreme Court of the United States adopted a completely revamped version of Rule 2019 of the Federal Rules of Bankruptcy Procedure to govern disclosure requirements for groups and committees that consist of or represent multiple creditors or equity security holders, as well as lawyers and other entities that represent multiple creditors or equity security holders, acting in concert to advance common interests in a chapter 9 or chapter 11 bankruptcy case.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Fried Frank Harris Shriver & Jacobson LLP, Bond (finance), Bankruptcy, Short (finance), Security (finance), Class action, Interest, Discovery, Swap (finance), Stakeholder (corporate), Solicitation, Credit default swap, Constitutional amendment, Trustee, Supreme Court of the United States
    Authors:
    Brad Eric Scheler , Jean E. Hanson , Gary L. Kaplan , Shannon Lowry Nagle , Jennifer L. Rodburg
    Location:
    USA
    Firm:
    Fried Frank Harris Shriver & Jacobson LLP
    Post-petition lock-down agreement does not equate to impermissible vote solicitation
    2013-06-12

    In re Indianapolis Downs, LLC, et al., 486 B.R. 286 (Bankr. D. Del. 2013)

    CASE SNAPSHOT

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debtor, Solicitation, Capital punishment, Title 11 of the US Code
    Authors:
    Lauren S. Zabel
    Location:
    USA
    Firm:
    Reed Smith LLP
    Bankruptcy court upholds post-petition plan support agreement
    2013-02-25

    On January 31, 2013, the Bankruptcy Court for the District of Delaware confirmed the debtors’ proposed plan of reorganization in In re Indianapolis Downs, LLC,1 declining to “designate” or disallow the votes of several substantial creditors that had entered into a plan support or “lockup” agreement with the debtors after the bankruptcy filing. In a written decision,2 the Bankruptcy Court provided important guidance concerning the permissibility of post-petition plan support agreements entered into before the court approves a disclosure statement.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Debevoise & Plimpton, Bankruptcy, Debtor, Solicitation, United States bankruptcy court
    Authors:
    Richard F. Hahn , Jae-Sun Chung , Kevin Bensley
    Location:
    USA
    Firm:
    Debevoise & Plimpton
    Lock up your creditors — court gives broad protection to binding plan support agreements
    2013-02-13

    Rejecting the formalistic approach, the Delaware Bankruptcy Court in Indianapolis Downs, LLC1 focused on the policies underlying the idea of the disclosure statement to uphold a post-petition lock-up agreement, entered into before approval of a disclosure statement, with sophisticated financial players who had access to the material information that the disclosure statement would have provided.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Greenberg Traurig LLP, Solicitation
    Location:
    USA
    Firm:
    Greenberg Traurig LLP
    Weathering the storm: Delaware Bankruptcy Court declines to designate votes of parties to a post-petition restructuring support agreement
    2013-02-13

    On January 31, 2013, the Bankruptcy Court for the District of Delaware in In re Indianapolis Downs, LLC1 declined to designate the votes of parties to a post-petition restructuring support agreement (i.e., a lock-up agreement), instead confirming the Debtors’ Modified Second Amended Joint Plan of Reorganization (the “Plan”) based on the votes of such parties.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Haynes and Boone LLP, Interest, Debt, Solicitation, Title 11 of the US Code, United States bankruptcy court
    Authors:
    Lenard Parkins , Michael E. Foreman , Yonit Caplow
    Location:
    USA
    Firm:
    Haynes and Boone LLP

    Pagination

    • Current page 1
    • Page 2
    • Page 3
    • 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