After a 2014 decision in the Southern District of New York holding that section 316(b) of the Trust Indenture Act (“TIA”) barred any non-consensual restructuring that impaired a creditor’s actual ability to receive payment, issuers, creditors and the financial markets
Bankruptcy Report
Bankruptcy Report, published by Hughes Hubbard & Reed LLP, focuses on legal developments and case analyses related to bankruptcy and restructuring. The blog covers significant bankruptcy cases, including large corporate liquidations and reorganizations, and discusses court rulings affecting creditors, debtors, and trustees. It addresses issues such as plan confirmation, claims against directors and officers, key employee retention programs, and jurisdictional matters in bankruptcy proceedings. The blog also highlights the firm's involvement in notable bankruptcy matters and provides insights into the practical implications of bankruptcy law for financial and corporate restructuring.
Latest from Bankruptcy Report - Page 3
Bankruptcy Wildcatting: Challenging Midstream Contracts In The Wake of Sabine
This article can be found in the New York Law Journal‘s Corporate Restructuring and Bankruptcy special report.
Amidst the sometimes dramatic fluctuations in commodity prices that buffet the oil and gas industry, investors generally relied on one segment of…
The Curious Case of the Glass-Steagall Act
There is at least one thing that both President-Elect Donald Trump and Senator Elizabeth Warren claim to agree on: restoring the Glass-Steagall Act. Senators John McCain and Bernie Sanders are on record in agreement, as well. This strange collection of…
FSOC We Hardly Knew Ye
This post is an in-depth follow up to Scott’s article “Trump Has Been Elected: What Next For Financial Services?” that ran in Bloomberg. The original article can be found here.
As the financial services sector and Republican politicians draft the…
Time-Barred Bankruptcy Proofs of Claim Violate FDCPA: Supreme Court Grants Certiorari to Eleventh Circuit Case Johnson v. Midland Funding, LLC
On October 11, 2016, the United States Supreme Court granted certiorari to a debt collection agency in its appeal from the Eleventh Circuit case Johnson v. Midland Funding, LLC.[1] In Johnson, the Eleventh Circuit affirmed its decision in Crawford…
The Fourth Circuit Weighs In on Recharacterization of Debt as Equity
The Bankruptcy Code contains specific provisions that permit the subordination or disallowance of claims of insiders or others that may not, at equity, be entitled to the same status as a regular prepetition claim holder. For example, such claims may…
“Gunning” for a New Disinterestedness Standard for Bankruptcy Professionals
In order to be retained to provide bankruptcy services to a debtor, most professionals generally need to satisfy the “disinterestedness” requirement of Bankruptcy Code Section 327(a). Typically, in order to be “disinterested,” among other things, the professional in most cases…
How to Catch a Falling Giant: FIBA Moves Closer to Realization
On July 6, 2016, the House of Representatives passed the Financial Institution Bankruptcy Act of 2016 (“FIBA”) as part of a larger financial services budget bill. FIBA proposes to amend the Bankruptcy Code (the “Code”) to address the specific challenges…
A Retooled General Electric: An Industrial Giant That Is No Longer “Too Big To Fail”
In May, we reported on the judicial rescission of MetLife’s designation as an entity “too big to fail,” and noted that the court’s decision provided designated companies with a framework to challenge their designation. Another effective option is to…
SCOTUS Grants Cert in Jevic
By Dustin Smith
Yesterday, the Supreme Court granted certiorari in Czyzewski v. Jevic Holding Corp (“Jevic”). As previously reported, Jevic addressed whether a bankruptcy court can approve a settlement agreement that provides for distributions that violate the absolute priority rules as part…