While it’s not common for a lender to require an individual guaranty in order to extend commercial credit to an operating business[1], when such a requirement arises, the individual providing a guaranty should not take such a requirement
Restructuring Matters
Restructuring Matters, published by Crowell & Moring LLP, focuses on legal issues related to corporate restructuring, bankruptcy, and insolvency. The blog covers topics such as personal guarantees in lending, regulatory changes affecting insolvency practitioners, significant bankruptcy cases and rulings, liability management exercises, and enforcement of laws impacting distressed companies. It also addresses sector-specific challenges, including retail bankruptcies and supply chain issues, as well as cross-border insolvency matters like Chapter 15 eligibility. The content provides updates on legal developments, court decisions, and regulatory frameworks that influence restructuring strategies and creditor protections.
Blog Authors
Latest from Restructuring Matters
New UK Regulations Enhance Insolvency Practitioners’ Access to Data held by Companies House
The Information Sharing (Disclosure by the Registrar) Regulations 2024 (the “Regulations”) came into force in December 2024. The Regulations enhance insolvency practitioners (including the Official Receiver) (“IPs”) powers of investigation by providing them with greater access to information held by…
Bankruptcy and Restructuring in the US: A Snapshot of 2024
2024 brought a number of headline stories that will impact the bankruptcy and restructuring market in 2025 and beyond. A few of those are summarized below.
LMEs (Of course). Liability management exercises — sometimes referred to as “lender-on-lender violence” —…
Continued Pain in the Retail Sector: Coming Enforcement of Forced Labor Laws
After a pause in 2022, there has been much talk of the continuation, or resumption, of a wave of retail bankruptcy cases as we begin 2023. 2022 was highlighted by Revlon’s filing (discussed here: Revlon May Signal Another Wave of…
A Line in the Sand: Caymans Proceeding Ineligible for Chapter 15
Chapter 15 of the Bankruptcy Code provides a mechanism for United States cooperation and coordination with insolvency proceedings abroad, often affording foreign debtors wide-ranging relief and expansive rights through the United States Bankruptcy Court system. Not all proceedings in foreign…
When Is an Event of Default “Continuing”?
Over a decade after Lehman’s insolvency, the English High Court handed down a key judgement in Grant v FR Acquisitions Corporation (Europe) Ltd [1] on 11 October 2022. The judgement provides commentary on when certain Events of Default have occurred and…
Successor Liability and Section 363: A Broad Interpretation of an “Interest in Property”
The purchase and sale of assets by a debtor is governed by Section 363 of the Bankruptcy Code. So-called “363 sales” are typically attractive from a buyer’s perspective (and may be a primary reason for a bankruptcy filing). Perhaps the…
Your Counterparty Filed Chapter 11 – Make Sure to Check These 10 Boxes
On September 14, Crowell partners Rick Hyman and Gregory G. Plotko, together with Dawn Haghighi, General Counsel of PVC Murcor, published an article on the Association of Corporate Counsel’s ACC Docket, “Your Counterparty Filed Chapter 11 – Make Sure to…
Merchant Cash Advance Redux: Loan vs True Sale – New York Federal Courts Weigh In
In our February 14, 2022 post, we highlighted certain consequences regarding the treatment of a merchant cash advance (“MCA”) transaction as a “loan” rather than a “true sale” of receivables or future receivables and the implications of such…
SDNY Bankruptcy Court Prohibits a Court Appointed Claims Agent from Selling Direct Access to Creditor Claims Register Data to XClaim
In a matter of first impression relating to an important bankruptcy claims administration issue, Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York, recently denied the ability of a court appointed claims…