ARRC Formally Recommends Term SOFR
New Chapter 11 Filing – Alpha Latam Management, LLC
On August 1, 2021, Alpha Latam Management, LLC, a Miami-based financial services company that historically provides consumer loans in Latin America, along with certain affiliates, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case 21-11109). The company reports $100 million to $500 million in estimated assets and $500 million to $1 billion in estimated liabilities. As described further in the First Day …
2021 World Bank & INSOL International’s Legislative & Regulatory Group: COVID-19 response and the challenges ahead
This article was first published on the Private Sector Development Blog on July 27, 2021. The article is co-authored with Mahesh Uttamchandani (Practice Manager, Financial Inclusion, Infrastructure & Access in the Finance, Competitiveness, and Innovation Global Practice, World Bank Group) and Andrés F. Martínez (Chair, World Bank/INSOL International Legislative and Regulatory Group).
COVID-19 continues to present a variety of unique challenges for insolvency regulators and lawmakers worldwide. In March 2020, closing borders and widespread…
Opinion of Interest – In re Dura Automotive Systems, LLC: Delaware Bankruptcy Court Affirms Inability to “Impliedly” Assume Executory Contracts
What We’re Reading This Week [July 30, 2021]
Circuit Split Over Constitutionality of United States Trustee Fee Increases Picks Up More Steam
The Snowball effect, the Domino effect, and even the Streisand effect all demonstrate the accretive impact of small changes. Though without a catchy metaphor, the tendency of Circuit splits to attract new and deviating opinions fits the concept—particularly as applied to the deepening rift between Circuits over the constitutionality of United States Trustee fee increases in the Bankruptcy Judgeship Act of 2017 (the “2017 Amendment”). A recent ruling from the United States Bankruptcy Court for…
U.S. Bankruptcy Court for the District of Delaware Rejects “Implied Assumption” of Executory Contracts
New Chapter 11 Filing – GBG USA, Inc.
On July 29, 2021, GBG USA, Inc., along with several affiliates, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11369). The ultimate parent company of GBG USA, Inc. is Global Brands Group Holding Limited—a company that designs, develops, and sells branded fashion accessories, footwear, and apparel under owned and licensed brands, including Fiorelli, Sean John, AllSaints, Navigare, Dirk Bikkembergs,…
Latest Milestone in LIBOR Replacement Passed
Be Careful What You Wish For: Jevic Court Denies Chapter 7 Trustee’s Substitution Request, Potentially Ending Action Versus Prepetition Lenders
