Post-Filing Interest in a CCAA Proceeding: Re Nortel Networks Corp.

October 15, 2014

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Ziyi Shi. Ziyi Shi is an associate cross-appointed to the Corporate Group and the Insolvency Group of Osler, Hoskin & Harcourt LLP. In lengthy insolvency proceedings, interest accrued on existing claims during the “post-filing” period can represent a substantial portion of […]

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Major Banks Take Action to Facilitate Cross-Border Resolution Efforts by Agreeing to Sign ISDA Resolution Stay Protocol

October 14, 2014

This past Saturday, October 11, 2014, marked an important day in the too-big-too-fail regulatory and industry initiative. The International Swaps and Derivatives Association, Inc. (ISDA) announced on Saturday that 18 major global banks (G-18) have agreed to sign a new ISDA Resolution Stay Protocol, developed in coordination with the Financial Stability Board, to support cross-border […]

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Closed for Columbus Day Because of Bankruptcy Rule 9006(a)(6)

October 13, 2014

In case you were wondering, Columbus Day is in the top ten of “legal holidays” that Bankruptcy Rule 9006 recognizes.  Although the Weil Bankruptcy Blog is observing the holiday, we thought it provided a good opportunity to remind everyone of the diminished significance of legal holidays under Rule 9006.

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#Hashtag: Thinking of Starting Your Own Marijuana Business?

October 10, 2014

Have you ever wanted to start your own marijuana cultivation and distribution business? Do you see billboards on the highway advertising pot-growing seminars and think, “Maybe I should go?” Does the grass seem greener on the other side? What was once a mere dream can be a reality now that several states have legalized the […]

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Brazilian Reorganization Plan: Fundamentally Fair or Wholesale Trampling of Creditors’ Rights?

October 9, 2014

The United States Bankruptcy Court for the Southern District of New York was recently presented in In re Rede Energia, S.A. with the question of whether a confirmed Brazilian reorganization plan for Rede Energia, S.A. should be enforced in the United States. Rede, one of the largest power companies in Brazil, filed a reorganization proceeding […]

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R-E-C-O-V-E-R: Find Out What It Means to the Third Circuit

October 8, 2014

Because we couldn’t possibly top Judge Fisher’s opening line, we’re borrowing it for our introduction of In re Daniel W. Allen, Sr., a recent decision from the Third Circuit: “Although the facts of this case include details of money transfers and offshore asset protection trusts in sunny South Pacific locales, its ultimate resolution involves nothing […]

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No Proof of Claim, No Problem: Bankruptcy Court Finds Declaration to Be Effective as Informal Proof of Claim

October 7, 2014

Regardless of whether a creditor has a claim identified in a debtor’s schedules of assets and liabilities, generally speaking, most attorneys representing creditors in the context of a chapter 11 case will advise their clients to file a formal proof of claim with the bankruptcy court.  Often this is just “belts and suspenders” and a […]

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