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 undersecu...
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...
Articles & Books
The Insolvency Review, Fourth Edition, Law Business Research Ltd, 2016
Much ink has been spilled over the last several years about the ongoing convergence of the U.S. institutional Term Loan B market with the high-yield bond market, including by our firm. Th...
Articles & Books
American Bankruptcy Institute Journal, Vol. XXXIV, No. 2, February 2015
Directors and officers of financially distressed companies often face complicated, high-pressure decisions in fulfilling their fiduciary duties. For years, practitioners, legal scholars a...
In an opinion entered on November 17, 2014, Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York held that Suntech Power Holdings Co., Ltd...
Two recent bankruptcy court decisions have increased uncertainty over the right of secured creditors to credit bid in sales of debtors’ assets. Relying on and expanding a rarely used ?...
The involuntary chapter 11 bankruptcy filing of American Bancorporation (“American”), commenced by a group of distressed debt investors holding American’s trust-preferred securities...
On September 15, 2013, Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York issued an opinion in the Residential Capital (“ResCap”) bankruptc...
Bond indentures and credit agreements often contain “make-whole” provisions, which require issuers and borrowers to pay premiums if they redeem bonds or prepay loans before maturity. ...
