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Results: 1-10 of 95

Breaking the ISDA section 2(a)(III) insolvency stalemate
  • Morrison & Foerster LLP
  • USA
  • June 30 2014

On 19 June 2014, the International Swaps and Derivatives Association ("ISDA") published an amendment to the ISDA Master Agreement for use in


Lehman waterfall application and Game Station decision
  • Morrison & Foerster LLP
  • USA
  • March 18 2014

In another judicial decision springing from Lehman Brothers, as a result of the likely surplus in the estate of Lehman Brothers International


Reorganization plan qualifies for bankruptcy exception to NOL limitation rules
  • Morrison & Foerster LLP
  • USA
  • April 30 2013

In another recent private letter ruling, the IRS ruled that an ownership change pursuant to a bankruptcy reorganization plan qualified for an


Ambac seeks bankruptcy court approval of settlement with government resolving dispute arising out of tax treatment of credit default swaps
  • Morrison & Foerster LLP
  • USA
  • April 30 2013

On April 9, 2013, Ambac Financial Group, Inc. ("Ambac") submitted a proposed settlement with the United States to the U.S. Bankruptcy Court for the


Buyer beware: Third Circuit confirms claims are subject to disallowance despite sale to third party
  • Morrison & Foerster LLP
  • USA
  • December 5 2013

The Third Circuit in In re KB Toys, Inc. recently affirmed a decision of the Delaware District Court, holding that trade claims are subject to


Stern revisited: big questions remain unresolved
  • Morrison & Foerster LLP
  • USA
  • June 19 2014

In its recent decision, Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.),1 the Supreme Court reiterated and


Lehman Brothers appeal judgment confirms enforceability of flip clauses
  • Morrison & Foerster LLP
  • USA
  • July 28 2011

The judgment in the case of Belmont Park Investments Pty Limited v BNY Corporate Trustee Services Limited and Lehman Brothers Special Financing Inc (UKSC 20090222), which began to be heard by the UK Supreme Court on March 1, 2011, was handed down on July 27, 2011


Contemplating Chapter 11 as a “fresh start”? Consider recent developments in environmental claims liability
  • Morrison & Foerster LLP
  • USA
  • April 26 2011

When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11giving the reorganized debtor a "fresh start" and fairly treating similarly situated creditorscan conflict with the goals of environmental laws, such as ensuring that the "polluter pays


Supreme Court resolves conflict in circuit courts regarding credit bidding
  • Morrison & Foerster LLP
  • USA
  • May 29 2012

On May 29, 2012, the United States Supreme Court resolved a split among the federal courts of appeals on an important bankruptcy issue, agreeing with arguments Morrison & Foerster advanced on behalf of Amalgamated Bank


In re TOUSA, Inc.: commercial lending and debt trading markets breathe a sigh of relief
  • Morrison & Foerster LLP
  • USA
  • February 17 2011

A degree of certainty - for the time being - has been restored for participants in the commercial lending and debt trading markets who have been tracking the appeal of a controversial 2009 fraudulent transfer decision in the TOUSA, Inc. bankruptcy case