Chesapeake Bond Redemption Case: Ambiguity, Plain Meaning and Value

January 13, 2015

Many readers likely are familiar with the basic tenants of contractual interpretation. The key is to give effect to the intent of the parties. Where contractual language has a plain meaning, that is the best indication of intent. Where language is ambiguous, a court can examine extrinsic evidence (i.e., evidence outside the four corners of […]

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ABI Chapter 11 Reform Commission Series: Oversight of the Case (Part II, Professional and Compensation Issues)

January 12, 2015

As part of the Weil Bankruptcy Blog’s series on the recently released ABI Commission Report, we previously discussed the ABI Commissions’ recommendations on management and oversight of cases in chapter 11. In this entry we turn to the often debated topic of professional fees and the costs of complex chapter 11 cases.

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Charging Liens and Trump Cards: Specific Isolated Funds Not Required

January 9, 2015

“Each player must accept the cards life deals him or her: but once they are in hand, he or she alone must decide how to play the cards in order to win the game.” – Voltaire Where a creditor has a lien attached to proceeds of a particular transaction “in whose hands they may come,” […]

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ABI Chapter 11 Reform Commission Series: Oversight of the Case (Part I)

January 8, 2015

Like many of our readers, we at the Bankruptcy Blog spent our holiday breaks curled up with our copies of the American Bankruptcy Institute Commission to Study the Reform of Chapter 11 Final Report and Recommendations, which by now are quite dog-eared. For those of you who had more exciting plans and (still nursing your […]

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Drilling Down: A Deeper Look into the Distressed Oil & Gas Industry

January 7, 2015

As all restructuring eyes turn to Oil & Gas as the industry most likely to keep us busy in the coming months, we at the Weil Bankruptcy Blog want to make sure our readers are ahead of the gas curve (pun intended) in understanding the key issues that arise in this sector. With that in […]

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Class Action in Bankruptcy: “NO REPRESENTATION WITHOUT DESIGNATION!” Said the Second Circuit

January 6, 2015

In a recent decision by the Second Circuit, Lucas v. Dynegy Inc. (In re Dynegy, Inc.), No. 13-2581 (2d. Cir. Oct. 31, 2014), the court held that a class representative of a district court securities litigation against a chapter 11 debtor had no authority to act on behalf of the class in the debtor’s bankruptcy […]

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Rare Substantive Consolidation Order Issued by Ontario Court

January 5, 2015

NORTH OF THE BORDER UPDATE This article has been contributed by Julien Morissette, associate in the Insolvency & Restructuring and Litigation groups of Osler, Hoskin & Harcourt LLP. Canada has seen many corporate group insolvencies, some of which have involved hundreds of related entities – each with their own assets, liabilities and creditors. Reconciliation of […]

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