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Bankruptcy Settlements may not have to Comply with the Absolute Priority Rule? Not so fast
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • June 29 2016

In an earlier blog piece we reported on the Third Circuit's 2015 decision in In re Jevic Holding Corp. where the Court approved a settlement


Three Strikes and Recovery Act is Out
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • Puerto Rico, USA
  • June 13 2016

Today's U.S. Supreme Court decision in Commonwealth of Puerto Rico v. Franklin California Tax-Free Trust puts an end to one of Puerto Rico's


Good News on “Bad Boy” Guarantees - IRS Reverts to Prior Position in Recent Legal Advice Memorandum
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • May 12 2016

On April 15, 2016, the IRS released a generic legal advice memorandum (GLAM 2016-001) (the "April GLAM") addressing the impact of so-called "bad boy"


Tranquil waters once again in the safe harbor: Bankruptcy safe harbor protects shareholders from state constructive fraud claims
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • April 13 2016

Shareholders who received nearly $8 billion from the Tribune Company leveraged buyout (LBO) do not have to give back that money as a constructive


Oil, Gas and Mineral Companies Take Note: Agreements Purporting to “Run with the Land” may be Rejected in Bankruptcy
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • April 6 2016

A recent bankruptcy court decision from the influential Southern District of New York permitted a debtor to reject executory contracts with midstream


You Can Lead a Horse to Water, But You Can’t Call it an Airplane: Supreme Court Oral Arguments Suggest Puerto Rico’s Recovery Act May Recover
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • March 23 2016

A few thoughts on Tuesday’s oral arguments before the U.S. Supreme Court in the litigation over whether Puerto Rico’s Public Corporations Debt


Statutory Liens vs. Consensual Liens: Why it Matters and When it may Not
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • March 20 2016

While secured creditors are entitled to special rights in bankruptcy, those rights may differ depending on whether creditors have a statutory or


Directors and officers’ ultimate escape from personal liability
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • March 15 2016

In the Ultimate Escapes bankruptcy case, the U.S. District Court for the District of Delaware recently held that the "business judgment rule" may


Draft Treasury Legislation Would Give Puerto Rico Access to “Super Chapter 9” and Chapter 9 Bankruptcy
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • February 25 2016

A draft of the U.S. Treasury's proposed debt restructuring legislation began circulating earlier today. The draft legislation would give Puerto Rico


Turning A Blind Eye Cost Lender Hundreds Of Millions Of Dollars; Inquiry Notice Spoils Lender’s Good Faith Defense In Fraudulent Transfer Case
  • Mintz Levin Cohn Ferris Glovsky and Popeo PC
  • USA
  • February 12 2016

Lending credence to the old adage "if it's too good to be true, then it probably is," the Seventh Circuit Court of Appeals recently held that a