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Pennsylvania amends Act 47 to give the Commonwealth more oversight and its municipalities less time to reorganize

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • November 7 2014

Pennsylvania's legislature recently approved House Bill No. 1773, an overhaul to its Municipalities Financial Recovery Act, commonly known as "Act 47

Business judgment rule protects board’s decision to maximize the value of an insolvent Delaware corporation even if it puts creditors at risk; but it does not protect transfers of value from the corporation to a controlling shareholder or related party

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • October 31 2014

Directors of an insolvent corporation face a host of difficult questions. Should they wind up operations or file for bankruptcy to preserve assets

Another Court rules that availability of make-whole premiums in bankruptcy depends on governing documents

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • September 15 2014

In a recent bench decision in In re MPM Silicones, LLC et al., Case No. 14-22503-RDD (Bankr. S.D.N.Y. August 26, 2014), the Bankruptcy Court

PREPA bondholders seek summary judgment invalidating Puerto Rico’s public corporation bankruptcy legislation

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • Puerto Rico, USA
  • -
  • August 12 2014

On August 11, Franklin Funds and Oppenheimer Rochester Funds filed a second amended complaint, opposition to motion to dismiss and cross-motion for

Did the Supreme Court finally explain Marathon and Stern? Executive benefits’ impact on bankruptcy court jurisdiction

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • June 27 2014

The Supreme Court has spoken once again on the limited jurisdiction of the bankruptcy courts, adding to the understanding derived from Northern

Equity begets flexibility: valuing a secured creditor’s claim in bankruptcy and allocating post-petition interest

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • June 13 2014

The First Circuit Court of Appeals in In re SW Boston Hotel Venture, LLC, 2014 U.S. App. LEXIS 6768 (1st Cir. Apr. 11, 2014) recently ruled on a

And the tie goes to due process

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • April 25 2014

Debtors must provide known creditors with actual notice of a claims bar date if they want the bar date to apply to those creditors. Such was the

Legislative trial balloon for Puerto Rico public corporation insolvency process attracts bondholder attention

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • Puerto Rico, USA
  • -
  • March 17 2014

Last Tuesday, Puerto Rico sold its much-ballyhooed $3.5 billion in non-investment grade general obligation bonds. Two days later, two legislators in

Lyondell: is the safe harbor closed to former shareholders of LBOs?

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • February 10 2014

In a recent decision by the United States Bankruptcy Court for the Southern District of New York, Weisfelner, v. Fund 1, et al. (In re Lyondell Chem

Are credit bids in a deep freeze?

  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • -
  • USA
  • -
  • January 31 2014

A Delaware bankruptcy court recently limited a secured creditor's right to credit bid an acquired claim to the purchase price of that claim. In In re