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Second Circuit Confirms That Bond Issuers Can Restructure Out-of-Court Via Consent Solicitations

USA - January 26 2017 On January 17, 2017, the U.S. Court of Appeals for the Second Circuit issued an opinion in Marblegate Asset Management v. Education Management Corp...

Liz Downing, Gregory A. Fernicola, Jay M. Goffman, Sarah E. Pierce.


Third Circuit provides road map for structured dismissals

USA - May 28 2015 In the past decade, Chapter 11 practice has witnessed the rise of a new phenomenon: structured dismissals. Broadly speaking, the term structured...

Anthony W. Clark, Robert A. Weber, Jay M. Goffman.


Supreme Court clarifies scope of bankruptcy court authority, allows court adjudication of ‘Stern claims’ if parties consent

USA - May 27 2015 On May 26, 2015, the U.S. Supreme Court issued its ruling in Wellness International Network, Ltd., et al. v. Sharif. The Wellness decision clarifies...

Evan A. Hill, Julie E. Cohen, George A. Zimmerman.


Significant ruling gives Chapter 11 debtors new leverage over secured creditors

USA - January 27 2015 The Bankruptcy Code's so-called "cramdown" statute provides debtors with a significant tool that can be used to impose a reorganization plan upon...

Ron E. Meisler, David M. Turetsky.


Overview of ABI Commission Report and recommendation on the reform of Chapter 11 of the Bankruptcy Code

USA - December 23 2014 The last major revision to U.S. business reorganization laws occurred in 1978. Since then, companies’ capital structures have become more complex and...

Van C. Durrer II, George N. Panagakis, John K. Lyons, Ken Ziman, Jay M. Goffman.