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International Edition

Sidley Austin, Maples Land Roles In Country Garden's $17B Offshore Debt Restructuring 

The distressed Chinese private property developer has been battling about $190 billion in total liabilities, coupled with nearly $11 billion in offshore debt and $6 billion in offshore loans.
2 minute read

Corporate Counsel

Kirkland, Rite Aid's Bankruptcy Counsel, Vilifies Drug Supplier, Says Its Walking Away Would 'Put Millions of Lives at Risk'

The pharmacy chain says McKesson claims to have canceled its drug-supply contract, a move Rite Aid calls a negotiating ploy that uses the well-being of its pharmacy customers as a bargaining chip.
5 minute read

Corporate Counsel

Eight-Time GC at the Controls as Rite Aid Slides Into Bankruptcy

Thomas Sabatino Jr., who took the legal reins in June, faces numerous challenges—including resolving a thicket of opioid litigation.
4 minute read

The American Lawyer

Jackson Walker May Have Violated Ethics Rules by Not Disclosing Partner's Relationship With Judge

A long-term romantic relationship between a Texas bankruptcy judge and a former Jackson Walker partner raises questions about law firms' obligations to disclose such information, a legal ethics professor said.
5 minute read

The Legal Intelligencer

State Court Foreclosure Receiver Required to Return Possession of Real Property to Chapter 11 Debtor

Many clients are not aware that the Bankruptcy Code provides that, upon the filing of a bankruptcy case, the receiver is required to give back possession of the mortgaged property to the debtor unless the lender obtains an order from the Bankruptcy Court excusing the receiver from this requirement.
11 minute read

National Law Journal

More Reasons to Deny Releases to Nondebtors in the Purdue Bankruptcy

Even if the U.S. Court of Appeals for the Second Circuit were right that some releases are permitted, there are many other significant questions about who is entitled to a release, and under what circumstances, on which the statute provides absolutely no guidance, writes contributor Alan B. Morrison.
5 minute read

International Edition

Linklaters Secures £925M Rescue Deal for Embattled Metro Bank

Herbert Smith Freehills and White & Case also played roles on the rescue deal.
3 minute read

Texas Lawyer

Plaintiffs Pitted Against Each Other as Insurance Settlement in Doubt

"Appellants' arguments that Texas law, not federal bankruptcy law, controls are incorrect. We find the pre-petition payment doesn't affect the debtor's equitable interest in them at the time the petition was filed," wrote Fifth Circuit Judge Stephen A. Higginson.
3 minute read

The American Lawyer

Commercial Bankruptcy Set to Rival 2020 If Current Trends Hold

Not since the global financial crisis have large corporate bankruptcies been as common as they are this year, according to a new report by New Generation Research.
3 minute read

International Edition

Head of Restructuring and Insolvency at Australia's Gilbert + Tobin to Leave

Dominic Emmett, who has acted on some of Australia's largest deals in his 30-year career, will be joining an as-yet-unnamed firm.
2 minute read

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