In an opinion yesterday, Judge McMahon vacated the Purdue Pharma bankruptcy settlement because she found that the bankruptcy court lacked authority to issue releases in favor of the Sackler family.

Buried inside the Consolidated Appropriations Act, 2021, which the President signed into law on December 27, 2020, is a critical provision that will help keep U.S. trade flowing during the COVID-19 pandemic. Specifically, the bankruptcy relief section temporarily amends the U.S.

The COVID-19 crisis has imposed difficult global challenges on the retail industry. Mass closures of brick and mortar store fronts and supply chain disruptions have resulted in an unprecedented halt to business activities. Nevertheless, there are some steps retailers can take to better protect their business interests.

Law360, New York (June 30, 2016, 1:20 PM ET) -- After four hearings and one markup at the House Committee on Natural Resources, and countless hours of public and behind-the-scenes debate by the legislators, the House of Representatives passed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) on June 9, 2016. Then, on June 29, 2016, the Senate agreed to the House bill, sending the bill to the president for his expected signature.

Given the material impact that coronavirus is having on businesses, on March 28, 2020 the government announced that legislation would be forthcoming amending UK insolvency laws to:

Key2law (Surrey) LLP v D’Antiquis 2011 EWCA Civ 1567

USDAW and others v WW Realisation 1 Limited (in Liquidation) and another ET 3201156/2010

This case concerns the recent news about the protective award made against Woolworths PLC.  Woolworths which employed over 27,000 employees in 814 stores went into administration at the end of November 2008.  Joint administrators were appointed and it went into liquidation.

Independent Insurance Co Limited (In Provisional Liquidation) v Aspinall and another UKEAT/0051/11

Independent Insurance Company - IIC- went into provisional liquidation in June 2001.  Half of its employees were made redundant including Mr Aspinall and Mrs O’Callaghan.  They issued proceedings claiming a protective award when IIC failed to comply with its collective consultation obligations, consult with employee representatives or arrange for necessary elections.   

On December 12, 2019, the Sixth Circuit issued an opinion^[1] in the ongoing bankruptcy proceedings of FirstEnergy Solutions Corp. The decision upheld the ability of a bankruptcy court to decide whether a power purchaser in bankruptcy proceedings can reject FERC-approved power purchase agreements (PPAs).

On Feb. 3, 2017, the US Treasury Department’s Office of Foreign Assets Control issued a finding of violation against Taiwan-based B Whale Corp. (BWC), a member of Taiwan-based shipping company TMT Group, for activity occurring entirely outside the United States, based on the jurisdictional finding that “BWC was a US person ...