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Results: 1-10 of 51

The year in bankruptcy: 2011

  • Jones Day
  • -
  • USA
  • -
  • January 20 2012

A "roller-coaster ride of financial and economic uncertainty" would be one way to describe 2011

The year in bankruptcy: 2012

  • Jones Day
  • -
  • USA
  • -
  • February 4 2013

December 2012 marked the fifth anniversary of the beginning of the Great Recession, which officially began in December 2007 and ended in June 2009

Stockton, California, ruling: bankruptcy court powerless to prevent retiree benefit reductions by municipal debtor

  • Jones Day
  • -
  • USA
  • -
  • December 1 2012

Amid the economic hardships brought upon us by the Great Recession, the plight of cities, towns, and other municipalities across the U.S. has received a significant amount of media exposure

No safe harbor in a bankruptcy storm: mutuality “baked into the very definition of setoff”

  • Jones Day
  • -
  • USA
  • -
  • August 10 2010

"Safe harbors" in the Bankruptcy Code designed to insulate nondebtor parties to financial contracts from the consequences that normally ensue when a counterparty files for bankruptcy have been the focus of a considerable amount of scrutiny as part of evolving developments in the Great Recession

In brief: recent rulings on sovereign debt restructurings

  • Jones Day
  • -
  • Argentina, USA
  • -
  • December 1 2012

On October 26, 2012, the Court of Appeals for the Second Circuit, in a ruling that may impact sovereign debt restructurings, upheld a lower-court order enjoining Argentina from making payments on restructured defaulted debt without making comparable payments to bondholders who did not participate in the restructurings

Death and taxes assured: confirmation of shell corporation’s tax-avoidance Chapter 11 plan denied

  • Jones Day
  • -
  • USA
  • -
  • August 10 2010

Preservation of favorable tax attributes, such as net operating losses that might otherwise be forfeited under applicable nonbankruptcy law, is an important component of a business debtor's chapter 11 strategy

Senior class gifting is not the end of the story: some recent developments regarding the absolute priority rule and the new value exception

  • Jones Day
  • -
  • USA
  • -
  • August 10 2011

Much attention in the commercial bankruptcy world has been devoted recently to judicial pronouncements concerning whether the practice of senior creditor class “gifting” to junior classes under a chapter 11 plan violates the Bankruptcy Code’s “absolute priority rule.”

Comity extended to order entered in foreign insolvency proceeding enjoining actions against affiliates of foreign debtor

  • Jones Day
  • -
  • Mexico, USA
  • -
  • June 12 2012

Judge Robert W. Sweet of the U.S. District Court for the Southern District of New York held in CT Investment v. Carbonell and Grupo Costamex, 2012 WL 92359 (S.D.N.Y. Jan. 11, 2012), that comity should be extended to an order issued by a Mexican district court overseeing the Mexican bankruptcy proceeding (concurso mercantil) of Cozumel Caribe S.A. de C.V. (“Cozumel Caribe”) under Mexico’s Ley de Concursos Mercantiles (the “Mexican Business Bankruptcy Act”

Amended bankruptcy rules approved by the U.S. Supreme Court

  • Jones Day
  • -
  • USA
  • -
  • June 12 2012

On April 23, 2012, the U.S. Supreme Court approved amendments to the Federal Rules of Bankruptcy Procedure

KERP or KEIP: fireworks continue on keeping key employees at the helm in chapter 11

  • Jones Day
  • -
  • USA
  • -
  • October 1 2012

Changes made to the Bankruptcy Code in 2005 raised the bar considerably for providing “pay to stay” incentives that had been offered routinely to management and other key employees of a chapter 11 debtor, such as a severance or key employee retention plan (“KERP”