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    Bankruptcy beach futbol reading – World Cup edition
    2014-06-20

    To celebrate the one event that affects workplace productivity worldwide, we bring you our World Cup edition of Weil’s Bankruptcy Beach (or, in this case, multitasking while sitting in front of a screen for eight hours) Reading.

    Filed under:
    USA, Insolvency & Restructuring, Media & Entertainment, Weil Gotshal & Manges LLP
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    To assume or not to assume, that is the question: what act constitutes “assumption” under section 365(d)(4) of the Bankruptcy Code?
    2014-05-29

    Under section 365(d)(4) of the Bankruptcy Code, an unexpired lease of nonresidential real property is automatically deemed rejected if a debtor-lessee does not assume such lease within 120 days of its bankruptcy filing, or within 210 days with court permission.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Momentive plan confirmation affirmed: I can see clearly now the claim has gone
    2015-06-16

    On May 4, Judge Vincent Bricetti of the United States District Court for the Southern District of New York issued a ruling in the Momentive Performance Materials cases affirming the bankruptcy court’s confirmation rulings.  Key themes raised in this case of interest to distressed investors and addressed in Judge Bricetti’s ruling include 

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
    Authors:
    David Nigel Griffiths
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Deprizio, Shmeprizio: a waiver of indemnification can shield an insider guarantor from liability (at least in the Ninth Circuit)
    2015-05-21

    Can a waiver of rights ever be beneficial to the person granting the waiver?  Yes.  In In re Adamson Apparel, the Court of Appeals for the Ninth Circuit held, in a 2-1 

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Surety, Debtor, Waiver, Ninth Circuit
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Rent-stabilized leases: exempt or not?
    2015-04-20

    Is a rent-stabilized lease in New York a “local public assistance benefit” that is exempt from property of a debtor’s bankruptcy estate, or is it merely “a quirk of the regulatory scheme in the New York housing market[?]”  That was the question recently decided by the Second Circuit in In re Monteverde.  

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Welfare, Second Circuit
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    ABI chapter 11 Reform Commission series: trade creditor and employee priorities
    2015-03-20

    Readers, welcome to the latest installment of our ongoing coverage of the Final Report and Recommendations of the ABI Commission to Study the Reform of Chapt

    Filed under:
    USA, Employment & Labor, Insolvency & Restructuring, Weil Gotshal & Manges LLP
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Even exes can tell the truth sometimes: a valentine’s day reminder from the Weil bankruptcy blog
    2015-02-13

    It may only be Galentine’s Day as we post this, but given that V-Day is imminent, The Bachelor is in full-swing, and Fifty Shades of Gray just came out on the big screen, we decided to find some reasonable nexus between bankruptcy, romance, and love. In this year’s edition, we learn that all bets are off when former lovers end up in court.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Bankruptcy Court refuses to hop aboard faulty subway directions excuse for delayed petition filing
    2015-01-23

    The timing of a bankruptcy petition filing is often a carefully calculated decision that a debtor makes to obtain certain protections of the Bankruptcy Code, most notably, the automatic stay, in advance of a looming event. In many cases, a debtor may be close to tripping a covenant, missing a debt payment, or a creditor may be attempting to foreclose on the debtor’s assets. The debtor must be cognizant of the timing of these events as the protections of the Bankruptcy Code only apply after the petition has been filed.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
    Authors:
    Kevin Bostel
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Slouching towards bankruptcy: corporate fiduciaries escape liability in Ultimate Escapes
    2014-12-16

    As a company turns in the widening gyre of financial distress, its directors and officers are often confronted with situations that require them to make difficult decisions. Should things fall apart, those decisions may give rise to claims that directors or officers breached their fiduciary duties to the company. A 

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Fiduciary, Business judgement rule, United States bankruptcy court
    Authors:
    Gabriel A. Morgan
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Insights from the 2014 European Distressed Investor Conference
    2014-11-20

    On Monday 17 November 2014, Weil held its inaugural European Distressed Investor Conference at The Dorchester in London. A summary of the key discussion points follows.

    Panel A:

    Filed under:
    European Union, Insolvency & Restructuring, Weil Gotshal & Manges LLP
    Authors:
    Andrew Wilkinson , Alexander Wood
    Location:
    European Union
    Firm:
    Weil Gotshal & Manges LLP

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