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Recent Developments in Bankruptcy Law, January 2016
  • Jenner & Block LLP
  • USA
  • January 31 2016

Prejudgment asset freeze order on SEC’s motion does not violate the automatic stay. In an SEC action for securities law violations, the district

Second Circuit Wyly’ing Out? Asset Freeze Order Doesn’t Violate the Automatic Stay
  • Weil Gotshal & Manges LLP
  • USA
  • January 27 2016

Recently, in SEC v. Miller, No. 14-4261-cv (2d Cir. Dec. 18, 2015), the Second Circuit held, among other things, that a postpetition asset freeze

Funds talk: December 2015
  • Kramer Levin Naftalis & Frankel LLP
  • USA
  • December 3 2015

Chapter 11 bankruptcy cases are typically lengthy and expensive, potentially lasting years and costing millions of dollars in fees and expenses. One

Newest twist in make-wholes: calculating off the par call date
  • Hunton & Williams LLP
  • USA
  • August 14 2015

Historically, investment grade debt with a make-whole provision was fairly straightforward. At any time during the life of the instrument, the issuer

Should solvency tests give the same answer?
  • NERA Economic Consulting
  • USA
  • July 28 2015

Solvency is an important issue in many bankruptcy and related matters. Unfortunately for the sake of consistency, there is not a single definition of

The Second Circuit holds that claims against Lehman Brothers related to bilateral repurchase transactions do not qualify for customer status
  • Shearman & Sterling LLP
  • USA
  • July 15 2015

On June 29, 2015, the United States Court of Appeals for the Second Circuit affirmed the decision of the United States Bankruptcy Court for the

Tender offer approved to implement classwide debt exchange outside plan of reorganization
  • Jones Day
  • USA
  • March 31 2015

Debt-for-equity swaps and debt exchanges are common features of out-of-court as well as chapter 11 restructurings. For publicly traded securities

Former direct access partners executives plead guilty
  • Jenner & Block LLP
  • USA
  • March 25 2015

The former CEO of U.S. broker-dealer Direct Access Partners (DAP), Benito Chinea, and a former DAP managing director, Joseph Demeneses, each pleaded

SEC temporary asset freeze not barred by automatic stay provisions
  • Duane Morris LLP
  • USA
  • March 20 2015

In an effort to protect the property of a bankruptcy estate, Section 362(a) of the U.S. Bankruptcy Code imposes an automatic stay on most

Second Circuit holds that SIPA does not permit an inflation or interest adjustment to “net equity” claims for customer property
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • February 27 2015

In In re Bernard L. Madoff Investment Securities LLC, No. 14-97-bk(L), 2015 WL 727965 (2d Cir. Feb. 20, 2015), the United States Court of Appeals for