A recent chapter 15 decision by Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) suggests that third-party releases susceptible to challenge or rejection in chapter 11 proceedings may be recognized and enforced under chapter 15. This decision provides companies with cross-border connections a path to achieve approval of non-consensual third-party guarantor releases in the U.S.
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The recent success in Claire’s Stores’ $2.1 billion restructuring reinforces the importance of a proactive approach to corporate governance for closely held or sponsor-owned portfolio companies.
The Weil Bankruptcy Blog team is pleased to share with you news of the Firm’s recent announcement of the election of 11 new partners and 10 new counsel across Weil’s global platform – six of whom are in the Business Finance & Restructuring practice.
In Judge Glenn’s recent lengthy decision recognizing and enforcing a restructuring plan in the chapter 15 proceedings of In re Agrokor1, a Croatian company in Croatian insolvency proceedings, he highlighted that the concept of comity – respect for rulings in other countries – remains an important U.S. judicial policy in […]
The Supreme Court recently granted certiorari in the case of Mission Product Holdings, Inc. v. Tempnology, LLC (In re Tempnology, LLC), a First Circuit case that deepened the circuit split on whether trademark licensees are protected from a bankrupt debtor’s rejection of the underlying license.
When Michael Mastro fled to France to avoid turning over assets in an involuntary bankruptcy case filed against him, the chapter 7 trustee appointed in his case turned to the bankruptcy court for help in retrieving those assets. To do so, the trustee requested “unusual assistance” by asking the bankruptcy […]
In the spirit of the season, we’re (re)visited by Doron Kenter, a member of the Weil Bankruptcy Blog’s O.G. Editorial Board (and, as far as we can tell, still holder of the dubious distinction of having published the most posts for us). What do bankruptcy cases and Halloween have in […]