Corinne Ball

January 27, 2025 | New York Law Journal

The author writes "A Second Circuit panel issued a summary order affirming that an equity tender offer by a parent holding company funded by the proceeds of loans extended to its wholly owned subsidiary that later went bankrupt was shielded from attack by the safe harbor protections of section 546(e) of the Bankruptcy Code."

By Corinne Ball

11 minute read

December 23, 2024 | New York Law Journal

The author writes "This fall, the bankruptcy court extended the preliminary injunction for the thirty-seventh time and overruled an objection by the State of Maryland. Maryland subsequently appealed. Notably, in her prior rulings Judge McMahon correctly assessed Chapter 11 does not authorize releases of third parties, absent the consent of the affected claimholders, as determined and confirmed by the Supreme Court in Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024)."

By Corinne Ball

8 minute read

August 21, 2024 | New York Law Journal

Beyond the precision that should be present in the pledge agreement, actually divesting control of a company may have unintended consequences.

By Corinne Ball

10 minute read

June 27, 2024 | New York Law Journal

As recently discovered by a bidder following a bankruptcy sale, the 'Go Global Retail v. Dream on Me' decision once again confirms that there are limits to the protection provided by statutory mootness and bankruptcy court sale orders.

By Corinne Ball

8 minute read

April 24, 2024 | New York Law Journal

In March, the Seventh Circuit held that the same safe harbor provisions in the Bankruptcy Code may also extend to leveraged acquisitions structured as a purchase of privately held stock.

By Corinne Ball

10 minute read

February 21, 2024 | New York Law Journal

This article addresses how a Creditor's Committee may sue members of an LLC, despite Delaware law limitations, and how prebankruptcy exercise of proxy rights in reliance on Delaware law are upheld in a subsequent bankruptcy case.

By Corinne Ball

12 minute read

December 27, 2023 | New York Law Journal

In her Distress Mergers and Acquisitions column, Corinne Ball discusses the recent case "In re Envision Healthcare Corp," where the Bankruptcy Court for the Southern District of Texas confronted an apparent conflict between applicable Delaware law and the Bankruptcy Code, determining that the Bankruptcy Code overrides state law and protects a debtor from expulsion by its fellow LLC members.

By Corinne Ball

12 minute read

October 25, 2023 | New York Law Journal

Distress investors ought to take heed from the analysis set forth in 'In re Golden Seahorse.' The Bankruptcy Court for the United States Southern District of New York confronted a legacy of divergent cases, arguments among commentators and a somewhat ambiguous legislative history on the issue of cure requirements for reinstatement of a loan with favorable terms to its prepetition status

By Corinne Ball

14 minute read

August 23, 2023 | New York Law Journal

In her Distressed Mergers and Acquisitions column, Corinne Ball discusses 'In re Serta Simmons Bedding,' where, "ruling on the validity of the PET, the court addressed the role of equity, as well as the covenant of good faith and fair dealing, emphasizing that lender versus lender warfare is a "winner-take-all battle."

By Corinne Ball

15 minute read

April 25, 2023 | New York Law Journal

Fifth Circuit lauds bankruptcy courts, pointing to the importance of finality for bankruptcy sale orders and the damaging impact of COVID-19 on the debtor's business, to affirm good faith purchaser status of an affiliated purchaser.

By Corinne Ball

13 minute read