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Fifth Circuit expected to issue landmark ruling concerning recognition of foreign bankruptcy proceedings contrary to US public policy

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • November 20 2012

In a widely followed dispute, the Fifth Circuit Court of Appeals will soon render a decision on the appeal of a Texas Bankruptcy Court’s refusal to recognize non-debtor third party releases in the Mexican reorganization proceeding (concurso mercantil) of Mexican glass manufacturer Vitro SAB de CV

Fifth Circuit refuses to enforce Mexican reorganization plan's proposed release of non-debtor bond guarantors

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • December 14 2012

The Fifth Circuit recently upheld a Texas Bankruptcy Court’s refusal to enforce non-debtor third party releases in the Mexican reorganization proceeding (known as a concurso mercantil) of Mexican glass manufacturer Vitro SAB de CV

The Seventh Circuit expands scope of absolute priority rule to protect creditors

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • March 22 2013

In a recent decision, In re Castleton Plaza, LP, 2013 WL 537269 1 (Feb. 14, 2013), the Seventh Circuit held that the absolute priority rule - which

Lenders beware -- Fifth Circuit has lowered the bar for cramdown plan confirmation

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • March 29 2013

In a recent Fifth Circuit decision, Western Real Estate Equities, LLC v. Village at Camp Bowie I, L.P., No. 12-10271 (5th Cir. 2013), the court held

Judge rules in favor of Stockton and accepts Chapter 9 petition

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • April 9 2013

Round one of the fight between the City of Stockton, California and its creditors is finally over. On April 1, 2013, Bankruptcy Judge Christopher M

Cherry picking contract provisions in bankruptcy: not so taboo after all?

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • August 6 2013

One of the quintessential principles of the Bankruptcy Code is that when a debtor assumes an executory contract, it must assume the contract as a

First Circuit finds that a private equity fund can be liable for the pension obligations of its portfolio company

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • August 6 2013

In Sun Capital Partners III, L.P. Et al. V. New England Teamsters & Trucking Industry Pension Fund, No. 12-2312, 2013 WL 3814985 (1st Cir. July 24

Attacking LBO payouts as state law fraudulent transfers

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • February 11 2014

The United States Bankruptcy Court for the Southern District of New York (the "Court") in Weisfelner v. Fund 1 (In Re Lyondell Chemical Co.), 2014 WL

Actions taken in violation of the automatic stay are void... sometimes

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • October 2 2008

In Burkhart v. Coleman, (In re Tippett) --- F.3d ---, 2008 WL 4070690 (9th Cir. Sept. 4, 2008), the Ninth Circuit held that an unauthorized post-petition sale of real property may be upheld where: 1) the bankruptcy trustee failed to record the bankruptcy petition with the county recorder; and 2) a bona fide purchaser thereafter bought and recorded title in the property

United States Supreme Court resolves circuit split

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • July 9 2008

In a recent decision, the United States Supreme Court resolved a circuit split regarding the meaning of the statutory phrase "under a plan confirmed under Chapter 11 of the bankruptcy Code," as codified in 11 U.S.C. 1146(a