Corinne Ball

June 25, 2009 | New York Law Journal

Corinne Ball, a partner at Jones Day, writes: In a recent opinion written by Judge Frank H. Easterbrook, the U.S. Court of Appeals for the Seventh Circuit reversed a decision by the U.S. Bankruptcy Court for the Northern District of Illinois ruling on the valuation of an airport terminal that served as collateral for certain United Airlines bonds. The Seventh Circuit held that the bankruptcy court's valuation was clearly erroneous, and determined that the bondholder appellants rather than being materially undersecured were fully secured. Additionally, the Seventh Circuit criticized the bankruptcy court's determination of a discount rate as an improper average of the rates proffered by the parties.

By Corinne Ball

11 minute read

April 27, 2006 | New York Law Journal

Corinne Ball, a partner at Jones Day, writes that while the appointment of a creditors' committee is required in every chapter 11 case, equity committees are not. In fact, they "should be the rare exception." Yet, recently, in In re Delphi Corp., the court directed the appointment of an equity committee � the expense of which will be borne by the Delphi estate � despite the rigorous objections of Delphi Corporation, the U.S. Trustee, the Creditors' Committee, and General Motors.

By Corinne Ball

11 minute read

February 24, 2011 | New York Law Journal

Corinne Ball, a partner at Jones Day, analyzes a recent ground-breaking decision that dealt a powerful blow to the controversial practice of "gifting" by which a high priority (often secured) class of creditors bypasses an intermediate class by making a "gift" to a lower priority (often equity) class.

By Corinne Ball

12 minute read

August 26, 2004 | New York Law Journal

Corinne Ball, a partner at Jones Day, writes that a sale under section 363 of the Bankruptcy Code often involves two separate orders of the bankruptcy court: an order establishing bidding procedures and an order approving the sale. But what happens when a higher bid is submitted outside the approved sale process?

By Corinne Ball

11 minute read

June 22, 2006 | New York Law Journal

Corinne Ball, a partner at Jones Day, wrtites that while it is not uncommon to see bankruptcy used to assist in the implementation of a sale of distressed assets, Yukos Oil Company's recent chapter 15 case highlights another obstacle for purchasers of distressed assets � the use of a bankruptcy filing to frustrate a potential sale of assets.

By Corinne Ball

11 minute read