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Fifth Circuit holds foreign representatives may bring foreign law avoidance actions under Chapter 15 of Bankruptcy Code

  • Dechert LLP
  • -
  • USA
  • -
  • April 5 2010

The United States Court of Appeals for the Fifth Circuit on March 17, 2010 held that foreign representatives appointed in a foreign insolvency proceed-ing have the authority to bring a foreign law based avoidance action in an ancillary bankruptcy proceeding commenced under Chapter 15 of the Bankruptcy Code, reversing the lower court opinions

Recent developments in acquisition finance

  • Dechert LLP
  • -
  • USA
  • -
  • July 18 2012

There have been some important recent legal developments that will likely impact acquisition finance

Recent developments in acquisition finance

  • Dechert LLP
  • -
  • USA
  • -
  • March 3 2014

A recent decision of the U.S. Bankruptcy Court for the Southern District of New York examines who is an "Eligible Assignee" entitled to acquire loans

Court rules Houston Astros cannot strike out fiduciary duties in bankruptcy

  • Dechert LLP
  • -
  • USA
  • -
  • March 5 2014

One of the incentives that Delaware law offers founders of business entities is the ability to tinker with the fiduciary duties that the managers of

SDNY Bankruptcy Court allows as a claim unamortized original issue discount generated in a fair market value exchange

  • Dechert LLP
  • -
  • USA
  • -
  • November 21 2013

The Bankruptcy Court for the Southern District of New York overseeing the Residential Capital ("ResCap") cases issued an opinion on November 15, 2013

“Officer” titles do they confer insider status?

  • Dechert LLP
  • -
  • USA
  • -
  • September 24 2014

Insider status in U.S. bankruptcy carries with it significant burdens. Insiders face a one year preference exposure rather than the 90 day period

Pennsylvania Supreme Court limits the applicability of the in pari delicto defense

  • Dechert LLP
  • -
  • USA
  • -
  • July 14 2010

In pari delicto is a common law defense against liability in circumstances where the culpability of the plaintiff is at least as great as the culpability of the defendant

Bankruptcy court casts cloud of uncertainty over treatment of executory contracts and swaps

  • Dechert LLP
  • -
  • USA
  • -
  • March 3 2010

A recent decision in the Bankruptcy Court for the Southern District of New York (the "Court") in the Lehman case has extended the unenforceability of ipso facto clauses to a provision triggered by the bankruptcy filing of an affiliate of a contractual party

Bankruptcy court rejects FDIC’s claim for capital shortfall

  • Dechert LLP
  • -
  • USA
  • -
  • September 23 2010

The next few years will see the "redevelopment" of the law in two critical areas involving bank failures where the Federal Deposit Insurance Corporation ("FDIC") is appointed receiver: (i) the relative rights and claims of creditors of a bank or savings and loan holding company, including the FDIC; and (ii) D&O and professional liability

First investment firm to enter the new special administration regime

  • Dechert LLP
  • -
  • United Kingdom
  • -
  • November 18 2011

On 31 October 2011, MF Global UK Limited, an insolvent investment broker, became the first investment firm to enter the special administration regime (the “SAR”) created by the Investment Bank Special Administration Regulations 2011 (SI 2011245