The Delaware Bankruptcy Court in Bayside Capital Inc. v. TPC Group Inc. offers a counterpoint to TriMark by holding that a “sacred right” provision in an indenture, which required the…
Few topics generate as much attention and commentary within the restructuring community as the treatment of make-wholes in bankruptcy. During the past decade, several prominent judicial…
In Hertz, the Delaware Bankruptcy Court declined to dismiss certain claims for make-whole premiums pending a factual determination as to whether the make-whole amounts were the economic…
Davis Polk partner Brian Resnick, counsel Steven Szanzer and associate Omer Netzer recently authored “A Bird in the Hand Is Worth Two on the Effective Date” in American Bankruptcy Institute…
Judge Rakoff’s Nine West decision allowed fiduciary duty claims to proceed against LBO seller directors and officers based on anticipated subsequent transactions by purchaser
Judge Daniels…
On May 20, 2019, the U.S. Supreme Court issued a significant decision in Mission Product Holdings, Inc. v. Tempnology, LLC, holding that the rejection of a trademark license in bankruptcy…
On January 17 2019, the U.S. Court of Appeals for the Fifth Circuit issued a decision strongly suggesting that make-whole premiums are not payable in bankruptcy to unsecured and…
Bankruptcy practitioners, strategic investors and other chapter 11 actors have become increasingly focused on the key economic and legal terms of management incentive plans (MIPs). Finding…
In a much-anticipated decision, on October 20, 2017, the U.S. Court of Appeals for the Second Circuit concluded that (1) the Bankruptcy Court erred in not determining whether an efficient…
