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Results: 1-10 of 137

United States: D&O Insurance Policies - a cautionary tale: the Peril of Prior Act Exclusion
  • Dechert LLP
  • USA
  • July 7 2017

Directors and officers (D&Os) of troubled companies should be highly sensitive to D&O insurance policies with Prior Act Exclusion. While policies with


Supreme Court Lehman Waterfall I decision - foreign currency creditors lose over £1.6 billion in failed Lehman Brothers currency conversion claims
  • Dechert LLP
  • United Kingdom
  • July 7 2017

98 of the liabilities of Lehman Brothers International (Europe) (in administration) ("LBIE") were denominated in non-sterling currencies. The fall in


United Kingdom: New Insolvency Rules streamline communication with creditors
  • Dechert LLP
  • United Kingdom
  • July 7 2017

The existing insolvency rules in the UK have been recast with the aim to "modernize and consolidate" the procedural framework for insolvency processes


Cross border restructuring landscape continues to evolve - EU and Singapore reform and modernize while the UK assesses the impact of Brexit
  • Dechert LLP
  • European Union, Singapore
  • July 7 2017

Legislative changes in Singapore and the EU introduce pre-insolvency processes facilitating non-consensual debt restructurings or cram downs


Special Purpose Vehicles’ Authority to File for Bankruptcy Revisited
  • Dechert LLP
  • USA
  • June 21 2017

In order to file for bankruptcy in the United States, a company needs to secure the appropriate corporate authorizations as required by its governing


Litigation Funder Communications Protected by the Attorney-Client Privilege and Work Product Doctrine
  • Dechert LLP
  • USA
  • June 8 2016

Addressing a novel issue in In re: International Oil Trading Company, LLC, 548 B.R. 825 (Bankr. S.D. Fla. 2016), the United States Bankruptcy Court


Substantive Consolidation of Non-Debtors-Standing and Notice Issues
  • Dechert LLP
  • USA
  • May 30 2017

U.S. courts generally agree that the substantive consolidation should be applied sparingly, and even more so when substantive consolidation of debtors


Seventh Circuit: Section 546(e) Safe Harbor Does Not Shield From Avoidance Transfers Made Through Financial Institution Conduits
  • Dechert LLP
  • USA
  • August 2 2016

In FTI Consulting, Inc. v. Merit Management Group, LP, the Seventh Circuit recently held that transfers are not protected under the safe harbor of


US Special Purpose Vehicles’ Independent Directors and the Need for Fiduciary Duties
  • Dechert LLP
  • USA
  • June 1 2016

Essentially all securitization structures utilize a bankruptcy remote entity, aka special purpose entity ("SPE"), to reduce the lenders' or


Section 1111(b) Election Not Available When Collateral Is Sold Post Petition
  • Dechert LLP
  • USA
  • May 24 2017

Under section 1111(b) of the U.S. Bankruptcy Code, a non-recourse secured creditor that holds "a claim secured by a lien on property of the estate" is