In our continuing review of key issues concerning schemes of arrangement, this second bulletin addresses issues of valuation, third party releases, voting by ultimate beneficial holders and amendments to schemes. Our first bulletin covered jurisdiction, stays on challenges in foreign courts, new money and the imposition of new obligations, and class composition. Our third bulletin will contrast schemes with US Chapter 11 proceedings.

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Technical Difficulties, Efforts to Avoid Overtime Work Do Not Excuse a Missed Filing Deadline

March 5, 2015

“An attorney’s reluctance, or that of his assistant, to work after 6:30 p.m. one evening in order to meet a court-imposed filing deadline does not constitute excusable neglect.” – In re An In the next post in our series discussing the interplay between the fallibilities of computers and bankruptcy practice, we look at the deepest […]

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One Shining Moment: March Madness Is Here!

March 4, 2015

Duke, Kentucky, University of North Carolina, Lehman, Spickelmeier: March Madness champions all.  It’s that time of year again folks—the Weil Bankruptcy Blog’s annual March Madness Tournament is here.  This year, we at the Weil Bankruptcy Blog have spent quite a bit of time discussing and debating the Final Report and Recommendations of the American Bankruptcy […]

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Ninth Circuit BAP: Cramdown, DENIED.

March 3, 2015

If cramdown failures are par for the course, why are we all so fascinated with them? One thing is certain: they always provide a good teaching moment for practitioners. Marlow Manor’s chapter 11 single asset real estate case is no different. In Marlow Manor, the Ninth Circuit Bankruptcy Appellate Panel held that the bankruptcy court […]

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No Security by Obscurity: The Importance of Clearly Identifying Collateral

March 2, 2015

More is more, right? Not according to the Bankruptcy Court for the Northern District of Florida. The court recently ruled that when a creditor tries to capture the maximum amount of collateral in its security interest, this could have the opposite effect and result in an entirely unsecured claim. As most creditors know, the treatment […]

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Gary Holtzer Interviewed on Top Issues PE Firms Should Consider When Faced with Trouble

February 27, 2015

Gary Holtzer, co-chair of Weil’s Business Finance & Restructuring Department, was interviewed by The Deal on what PE firms should consider when their portfolio companies become stressed or distressed. The interview, which took place at the 2015 TMA Distressed Investing Conference in Las Vegas on February 12, was conducted by The Deal’s Senior Editor of […]

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Drilling Down: A Deeper Look into the Distressed Oil & Gas Industry Part 4—Smoke on the Water: The Hazy Law of Oil and Gas Leases on the Outer Continental Shelf

February 26, 2015

Today’s blog article, which looks at offshore leases in the United States, is the fourth in a Weil Bankruptcy Blog series, “Drilling Down,” a series that will look at issues at the intersection of the oil and gas industry and bankruptcy law.  In Part One we provided an overview of the oil and gas industry, […]

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