An opinion from the Second Circuit Court of Appeals in In re Motors Liquidation Company, relying on the Delaware Supreme Court’s answer to a certified question highlight the need to focus on the details w
This is the fourth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog.
Illinois’ municipal distress is severe and we have witnessed the political maneuvers to address Chicago’s ongoing fiscal dilemma. In 2013, Chicago Mayor Rahm Emmanuel stoked bankruptcy fears citing the city’s ballooning pension obligations that he estimated could exceed $1.6 billion in 2016. Pew Charitable Trusts has reported that among the nation’s five largest cities, Chicago has put aside the smallest portion of its looming pensions obligations. While certain changes have been made to counter the pension funding deficit, including Governor Quinn’s hotly contested
On January 7, the Bankruptcy Court for the District of Delaware issued an opinion that may have far reaching effects on cases involving asbestos liability. Companies with potential asbestos liability, and actual and potential asbestos claimants, would be well advised to consider the Court’s opinion.
Mississippi bankruptcy court holds that agreement encompassing both settlement agreement resolving claims for past-due performance royalties and contemporaneously executed ASCAP licensing agreements is not a single agreement, permitting the debtor to assume the licensing agreements without paying-or curing any default on payment of $400,000 due under the settlement agreement.
JPMorgan Chase & Co received a painful reminder recently that mistakes can be very costly after their appeal to the Second Circuit was remanded; the clerical mix-up could cost the company $1.5 billion.
Section 9-509(d)(1) of the Uniform Commercial Code (UCC) provides that a UCC-3 termination statement is effective only if “the secured party of record authorizes the filing.”
Compared to much of the rest of the world, the United States had the most positive economic, business, and financial news in 2014.
The composition of the Top 10 List of public bankruptcy filings for 2014 indicates that the U.S. has largely left behind the fraud, excess, abuse, and improvidence that dominated the bankruptcy landscape during the 2007–08 financial crisis and the ensuing Great Recession. Continuing a trend that began in 2012, only a single representative from the banking and financial services industry made the cut.
In two recent decisions, the United States District Court for the Southern District of New York adopted an interpretation of Section 316(b) of the Trust Indenture Act of 1939 (the “TIA”) that may complicate future exchange offers and, in some cases, force bond restructurings that might otherwise have been completed out-of-court to be effectuated through a bankruptcy filing.1 In Marblegate Asset Management v.
As a part of our continuing coverage of the 2012-2014 Final Report and Recommendations of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11, we’ve reported on a number of the Commission’s proposed revisions and reforms to the Bankruptcy Code, many of which (i.e., systemically important financial institutions, cross-border cases, DIP financing, etc.) primarily impact the traditional big players i