Davis Polk partner Tim Graulich was quoted in Global Restructuring Review on the chapter 11 process for crypto debtors. Tim noted that the coming months are going to provide more details about the extent to which the crypto companies are interconnected and that until the novel legal issues surrounding the ownership rights of digital assets are resolved, it will likely be difficult for debtors to take full advantage of the key features of the Chapter 11 process, such as debtor-in-possession financing, section 363 sales and, ultimately, plan confirmations.

Winter is coming and it’s starting with crypto’: NY lawyers react to month of turmoil,” Global Restructuring Review (July 22, 2022) (subscription required)