Searching Content indexed under Insolvency/Bankruptcy/Re-structuring by Ropes & Gray LLP ordered by Published Date Descending.
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U.S. Supreme Court Upholds State Law Rights Of Trademark Licensees And Other Non-Debtor Contract Parties In Bankruptcy
On May 20, 2019, the U.S. Supreme Court issued an 8-1 ruling in the case of Mission Product Holdings, Inc. v. Tempnology, LLC.
United States
5 Jun 2019
Sales Of Businesses In Distress
When a company enters a period of financial distress, directors must consider the interests of the company's creditors and, depending on the extent of the financial distress, may need to prioritise such interests over
28 May 2019
Podcast - Credit Funds: Make-Wholes And Cramdowns: Understanding The Recent Second Circuit Momentive Decision
Credit funds that invest in distressed debt, whether through secondary trading or loan origination, not only must evaluate the borrower's credit quality and business plan, but, with the help of their lawyers, ...
United States
9 Mar 2018
Supreme Court Narrows Bankruptcy "Safe Harbor" Fraudulent Transfer Protections
On February 27, 2018, the U.S. Supreme Court issued a ruling that will make it easier for bankruptcy trustees, creditors' committees, and other bankruptcy estate representatives...
United States
2 Mar 2018
Update: Proposed Rules Will Limit Buy-Side Remedies In A Financial Institution Failure
The Board of Governors of the Federal Reserve System (the "Board") has proposed rules (the "Proposed Rules") the-counter derivatives, repurchase agreement and securities lending transactions.
United States
16 May 2016
Supreme Court Bankruptcy Decision Strengthens Creditor Leverage In Plan Negotiations
On May 4, 2015, in the case Bullard v. Blue Hills Bank, the United States Supreme Court held that debtors in chapter 13 (and presumably chapter 9 and 11 as well) are not entitled as of right to immediately appeal bankruptcy court orders denying confirmation of a proposed plan of reorganization.
United States
6 May 2015
Bankruptcy Court Holds That Secured Creditors Can Be "Crammed Down" With Below-Market Rate Replacement Notes
This decision will introduce a new level of risk to leveraged lending – secured lenders will face the specter of losing any semblance of market treatment.
United States
3 Sep 2014
Supreme Court Upholds Limited Bankruptcy Court Jurisdiction Over Defendants In Fraudulent Transfer Actions; Leaves An Open Door To Constitutional Challenges When Parties Face A Trial In Bankruptcy Court
On June 9, 2014, the Supreme Court issued a decision in Executive Benefits Insurance Agency v. Arkison, a case that tested the extent of the jurisdiction of bankruptcy court judges to decide fraudulent transfer and certain other claims against non-debtors.
United States
10 Jun 2014
Supreme Court Rules Against Super Priority Status Of Pension Regulator's Claims In Insolvency
The Supreme Court has boosted the rescue culture by ruling that Financial Support Directions (FSDs) issued by the UK Pensions Regulator after commencement of insolvency proceedings are not an expense of the administration and, instead, rank on a par with unsecured claims.
30 Jul 2013
First Circuit Holds that Private Equity Fund May be Liable for Portfolio Company’s Multiemployer Plan Withdrawal Liability
In a decision (Sun Capital) with important implications for private equity sponsors, the U.S. Court of Appeals for the First Circuit has concluded that a private equity fund can be held liable for ERISA liabilities incurred by portfolio companies in which the fund has a sufficient stake
United States
27 Jul 2013
Ninth Circuit Widens Circuit Split Over Application Of State Or Federal Bankruptcy Law To Determine Whether Claims Of Insider-Lenders Should Be Recharacterized As Equity
Between 2003 and 2006, Fitness Holdings issued approximately $24 million of promissory notes with maturities ranging from 2006 to 2009 to its sole shareholder, Hancock Park.
United States
7 May 2013
Secured Lender’s Large "Makewhole" Claim Upheld By Delaware Bankruptcy Court
The United States Bankruptcy Court for the District of Delaware recently upheld a secured lender’s claim for a $23.5 million "makewhole" premium over the heavily litigated objection raised by the unsecured creditors’ committee in In re School Specialty, Inc., No. 13-10125.
United States
29 Apr 2013
Secured Lender’s Large "Makewhole" Claim Upheld By Delaware Bankruptcy Court
The United States Bankruptcy Court for the District of Delaware recently upheld a secured lender’s claim for a $23.5 million "makewhole" premium.
United States
26 Apr 2013
When "Loan To Own" Becomes "Own A Loan" – How A Recent Fifth Circuit Decision Rejecting The Artificial Impairment Doctrine Increases Risks For Distressed Real Estate Investors
Chapter 11 of the U.S. Bankruptcy Code provides debtors with a number of tools to restructure comprehensively their debts and other liabilities as well as immediate protection from secured and unsecured creditors.
United States
8 Mar 2013
Trust Me - A Security Trustee’s Duties To Subordinated
A recent High Court judgment has highlighted the importance for mezzanine creditors of including express and robust contractual protections when negotiating intercreditor agreements and provides a helpful summary of a trustee’s duties to mezzanine lenders when enforcing security.
United States
13 Dec 2012
Ropes & Gray’s Investment Management Update: August-September 2012
The following summarizes recent legal developments of note affecting the mutual fund/investment management industry
United States
25 Sep 2012
Wounded Knight Raises Questions About Bankruptcy Risks
The ongoing financial peril of Knight Capital provides an opportunity to reflect on steps investors should consider whenever a financial intermediary or counterparty encounters financial difficulties.
United States
8 Aug 2012
Seventh Circuit Strengthens Protection For IP Licenses In Bankruptcy
On July 9, 2012, the United States Court of Appeals for the Seventh Circuit significantly strengthened the potential ability of licensees to trademarks, international intellectual property, and other rights to continue to enjoy the benefits of their licenses despite a licensor’s bankruptcy.
United States
17 Jul 2012
Supreme Court Affirms The Right Of Secured Creditors To Credit Bid In A Sale Under A "Cramdown" Plan Of Reorganization
On May 29, 2012, in "RadLAX Gateway Hotel, LLC v. Amalgamated Bank", the United States Supreme Court unanimously held that a debtor may not confirm a chapter 11 plan.
United States
9 Jun 2012
Wamu Court Allows Equity Committee To Pursue "Equitable Disallowance" Of Noteholder Claims Based On Allegations Of Insider Trading
On September 13, 2011, Judge Mary F. Walrath of the United States Bankruptcy Court for the District of Delaware granted standing for an equity committee in In re Washington Mutual, Inc. ("WaMu") to seek "equitable disallowance" of claims held by noteholders that had traded claims after engaging in negotiations with WaMu over the terms of a global restructuring.
United States
28 Sep 2011
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