By Emily Barker | September 26, 2017
Resolving this sprawling cross-border insolvency took the best efforts of Herbert Smith, Goodmans, Cleary—and many more.
By newyorklawjournal | New York Law Journal | September 25, 2017
Pension to Surviving Wife Is 'Survivor Benefit' Not 'Retiree Benefit' Under Code §1114(a)
By Nichole Morford | September 25, 2017
In this Special Report from the New York Law Journal: "Fashion Forward Financing: Looking to Banks and IP for the Next Trend," "The Intersection of Federal Civil Enforcement Claims and Health Care Restructurings," "Supreme Court's 'Henson' Decision Leaves Many Questions Unanswered," "Treatment of Make-Whole Premiums in Bankruptcy: A Bondholder Perspective," "Is Time Really of the Essence? Not in Bankruptcy." and "Intentional Fraudulent Conveyances And Bankruptcy Code §523(a)(2)(A)."
By Eloy A. Peral | September 25, 2017
The pressures inherent in "time is of the essence" closings can breed ill-informed, and at times, regrettable decisions aimed at avoiding the potentially catastrophic result of failing to timely close. Bankruptcy can provide a "breathing spell" for financially distressed single-asset entities whose entire value is dependent on whether it can meet a "time is of the essence" deadline.
By Michael Sirota and Rebecca Hollander | September 25, 2017
In a June 12, 2017 decision, the U.S. Supreme Court unanimously held that certain consumer finance companies that purchase and collect defaulted debts originated by other lenders are exempt from the strictures of the FDCPA. The case, which turns on who qualifies as a "debt collector" under the FDCPA, has significant implications for the distressed debt industry and will likely lead to industry-wide changes as companies restructure so as to benefit from the guidance contained in this ruling.
By Tom Califano and Rachel Nanes | September 25, 2017
In many instances, government investigations and claims are the tipping points for already distressed health care companies causing them to seek Chapter 11 protection. As discussed herein, governmental involvement in these financial restructurings at the very least complicates the process of reorganizing these entities.
By Adam C. Rogoff, Erica D. Klein and Marsha Sukach | September 25, 2017
Various debt-burdened retailers are looking to their intellectual property assets as a source of untapped value for refinancing transactions. While it remains to be seen which strategies will be most successful, IP assets will play a key role in future retail restructurings. As the value of brick-and-mortar "hard" assets stores becomes tapped out, a retailer's brands, licenses, and associated IP rights may present reliable sources of value.
By Ed Christian, Mark Sherrill and Alex Brown | September 25, 2017
Courts have generally found that make-whole provisions do not provide for the payment of unmatured interest, nor are they unenforceable liquidated damages provisions. It would behoove the court in 'Ultra Petroleum' to continue the precedent on these issues, because failure to do so would call into question the ever-important principle that when evaluating documents governed by New York law, courts will generally defer to the mutual intent of the parties as manifested within the four corners of the document.
By Stephanie Forshee | September 21, 2017
GC Cornell Boggs and his legal department will likely have their work cut out for them.
By Charles Toutant | September 21, 2017
The Newark Watershed Conservation & Development Corp. is seeking permission to examine electronic devices belonging to the law firm of Trenk, DiPasquale, Della Fera & Sodono.
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