International Update: German Supreme Tax Court Abolishes German Restructuring Privilege

Given the prevalence of cross-border restructurings, the Weil Bankruptcy Blog periodically brings our readers interesting restructuring law updates from around the world.  This blog entry describes a development that could have an impact on restructurings in Germany.  Cancellation of debt – a key element of most restructurings – generally triggers taxable […]

Recoupment – Is it the same transaction?

Recoupment is an equitable remedy – not expressly addressed in the Bankruptcy Code – that permits the offset of mutual debts arising out of the same transaction or occurrence.  Unlike typical setoff, if recoupment applies, prepetition debts can be set off against postpetition debts.  A recent decision from the Delaware […]