In a special video, members of Hughes Hubbard’s Lehman team reveal the challenges they faced and overcame after Lehman Brothers collapsed 10 years earlier in what remains the largest bankruptcy in history. The team serves as counsel to James W.
Latest from Bankruptcy Report
In CNBC: Lehman and MF Global Taught the Need to Prepare for the Next Financial Collapse
September 6– Christopher Kiplok, counsel to the trustee in the liquidations of Lehman Brothers and MF Global, writes about the principal lesson of the largest and eighth-largest bankruptcies in history in this CNBC commentary: Lehman and MF Global taught the need to prepare
Pyrrhic Victory in Palmaz: Creditors Entitled to D&O Insurance Claims, but not D&O Insurance Payouts
A recent decision by the Bankruptcy Court for the Western District of Texas in In re Palmaz Scientific, 2018 WL 1036780, at *5 (Bankr. W.D. Tex. Feb. 21, 2018) serves as a cautionary tale of the importance of monitoring the
No Seconds: Court Upholds Payments under KERP Program as Waiver of General Unsecured Claims Under Prepetition Retention Program
The District of Delaware Bankruptcy Court recently sustained the objection of the Litigation Trustee to the claims of three former employees (together, the “Claimants”), based on their participation in their employer’s two-year retention program created prepetition (the “Prepetition Retention Program”).
Second Circuit Affirms Bankruptcy Court’s Exercise of Jurisdiction over Post-Confirmation Contractual Dispute.
The United States Court of Appeals for the Second Circuit affirmed a Bankruptcy Court’s exercise of jurisdiction over a post-confirmation contractual dispute between Relativity Media, LLC and Netflix, Inc. as a core proceeding.[1]
The dispute between Relativity and Netflix
Crossing Borders—How B.C.I. Finances Broadened Chapter 15 Protections for Foreign Representatives
In a recent decision, the United States Bankruptcy Court for the Southern District of New York found that a relatively small retainer placed in the trust account of the foreign liquidators’ U.S. counsel constituted “property” sufficient to satisfy the requirements
Hughes Hubbard Bankruptcy Year-End Review for 2017
We are pleased to share with our readers the Hughes Hubbard Bankruptcy Year-End Review for 2017. We thank our friends for entrusting us with these rewarding engagements and look forward to building on these successes in 2018.
Vive Le Restructuring: French Restructuring Plan Gets Overseas Approval and Enforcement in the U.S.
On December 21, the Bankruptcy Court for the Southern District of New York recognized and agreed to enforce the unopposed foreign restructuring plan of oil exploration company C.G.G. S.A. (“C.G.G.,” or the “Company”) under Chapter 15 of the Bankruptcy Code.
Supreme Court to Tackle Fraud Exception in Lamar, Archer & Cofrin, LLP v. Appling
On January 12, 2018, the U.S. Supreme Court granted certiorari over the Eleventh Circuit’s decision in R. Scott Appling v. Lamar, Archer & Cofrin, LLP, which held that a fraudulent statement regarding a single asset may constitute a statement concerning
Endangered Species: Seventh Circuit Finds that Forex and Spot Metal Contracts are Not Entitled to Customer Protection in FCM Liquidations
In its recent decision in In re Peregrine Financial Group, the Seventh Circuit became the first circuit to accept a definition of “customer property” which excludes retail foreign exchange contracts, or “forex contracts”, and spot metal contracts.[1] The