Insolvency at Its Limits: What Management and Creditors of Insolvent LLCs and LPs Should Know About Fiduciary Duties Waivers and Standing, Inside and Outside of Bankruptcy

TRANSACTIONAL

LITIGATION/CONTROVERSY

June 8, 2017

Bankruptcy Alert

Insolvency at Its Limits: What Management and Creditors of Insolvent LLCs and LPs Should Know About Fiduciary Duties Waivers and Standing, Inside and Outside of Bankruptcy

By Isley M. Gostin, Craig Goldblatt and George W. Shuster, Jr.

Filed under:
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Wilmer Cutler Pickering Hale and Dorr LLP, Bankruptcy, Fiduciary, Limited liability company, Limited partnership, Debtor in possession
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
Upside Down in Chapter 15 Can U.S. Entities Qualify as “Foreign” Debtors in the U.S.?

The Essential Resource for Today's Busy Insolvency Professional

The International Scene

George W. Shuster, Jr. WilmerHale Boston and New York

Benjamin W. Loveland WilmerHale Boston

George Shuster is a partner with WilmerHale in its Boston and New York offices. Benjamin Loveland is counsel in the firm's Boston office.

By George W. Shuster, Jr. and Benjamin W. Loveland

Upside Down in Chapter 15

Can U.S. Entities Qualify as "Foreign" Debtors in the U.S.?

Filed under:
USA, Insolvency & Restructuring, Litigation, Wilmer Cutler Pickering Hale and Dorr LLP, United States bankruptcy court
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
Restructuring Liquidation Preferences

Job candidates may choose to work for a startup to help build something new, to work in an environment that fosters and rewards creativity, or to get the thrill of climbing aboard a “rocket ship.” New employees rarely, if ever, guide the rocket ship’s trajectory, even though they often directly help determine it.

Filed under:
USA, Corporate Finance/M&A, Employee Benefits & Pensions, Insolvency & Restructuring, Wilmer Cutler Pickering Hale and Dorr LLP
Authors:
Eric P. Hanson
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
How Liquidation Preferences Work

A liquidation preference is the legal mechanism in which a legal investor will get it's money out first in preference to others in a company.

Please click here to view the video.

Filed under:
USA, Insolvency & Restructuring, Wilmer Cutler Pickering Hale and Dorr LLP
Authors:
Rosemary G. Reilly
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
The First Circuit may ‘actually’ be the best choice of bankruptcy venue for intellectual property licensees

In October 2014, GT Advanced Technologies (GT), a Delaware corporation with a principal place of business in New Hampshire, filed a petition for relief under Chapter 11 of the Bankruptcy Code (Code) in the District of New Hampshire. The locus of the filing was somewhat of a surprise to many, given the steady migration of large Chapter 11 cases to the so-called “magnet” bankruptcy venues of Delaware and the Southern District of New York.

Filed under:
USA, Insolvency & Restructuring, Intellectual Property, Litigation, Wilmer Cutler Pickering Hale and Dorr LLP, Delaware General Corporation Law, First Circuit
Authors:
Benjamin W. Loveland
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP
Big Law Works ‘Around the Clock’ as Clients Navigate SVB Collapse

What You Need to Know

• Silicon Valley Bank’s 48-hour collapse sent several Big Law firms into action late last week.

• Morgan Lewis, Wilmer, Wilson Sonsini and Ballard Spahr are among the laws firms that launched task forces and webinars over the weekend.

• Despite some reassurance from the FDIC on Sunday, there are lingering issues that are expected to continue to prevent firms’ clients from conducting business in the normal course.

Filed under:
USA, Banking, Compliance Management, Insolvency & Restructuring, Wilmer Cutler Pickering Hale and Dorr LLP, Corporate governance, Venture capital, Federal Deposit Insurance Corporation (USA), Silicon Valley Bank
Location:
USA
Firm:
Wilmer Cutler Pickering Hale and Dorr LLP