Reed Smith’s global Commercial Restructuring & Bankruptcy team have recently published the May issue of their quarterly newsletter. The newsletter provides a detailed review of some of the most important legal developments in the sector. The May issue includes the following:
- How Safe are the Bankruptcy Code Safe Harbors?
- Stockton’s Chapter 9 Plan Approval
- Delaware Chancery Court Clarifies Fiduciary Duties of Insolvent Corporation Directors in Derivative Action
- Parties to Whom Directors Owe Duties Depend on Solvency
- Punitive Damages of Officers Upheld, but Vacated as to Directors, in Mismanagement Case
- Equitable Conversion Enables Lender’s Security Interest to Relate Back, Giving Lender Priority over IRS Lien
- Delaware Joins the 7th and 9th Circuits in Protecting Trademark License Owners from Non-consensual Bankruptcy Assumptions and Assignments
- Fraudulent Transfers May Not Be Avoided Where No Benefit to the Estate
- Court Rejects ‘Business Justification’ for Claim Classifications, Creditor Cannot Be Forced to Make Section 1111(b) Election
- Applying Till, Court Requires Evidence to Increase Interest Rate Above Prime
- Equitable Marshalling Does Not Require Secured Lender to Foreclose or Reduce the Value of its Claim
- Typo in Security Agreement Cannot Be Repaired Using Parol Evidence after Bankruptcy Filing
- Bankruptcy Court Refuses to Allow Debtor and Committee to Re-negotiate Carve-out from Section 363 Sale Proceeds
- Dutch Company, New York Law – An English Scheme of Arrangement?
- Bankruptcy Court Rejects Creditor Argument that Plan Not Feasible, Refuses to Vacate Order Confirming Chapter 11 Plan
- Counsel’s Corner: News from Reed Smith
Download the .PDF to learn more: Commercial Restructuring & Bankruptcy Alert – May 2015, No. 2