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Fifth Circuit Rules on the "Solvent-Debtor Exception" and Make-Whole Premiums

USA - December 6 2022 On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. ("UPC") must pay a…

Bruce Bennett, James O. Johnston, Heather Lennox, Joshua M. Mester, Nicholas C.E. Walter

Fifth Circuit Rules on the "Solvent-Debtor Exception" and Make-Whole Premiums

USA - October 28 2022 Courts have disagreed over whether a make-whole premium triggered by a borrower's bankruptcy filing must be disallowed as unmatured interest. They…

Bruce Bennett, James O. Johnston, Heather Lennox, Joshua M. Mester, Nicholas C.E. Walter

Divided Ninth Circuit Rules That Unimpaired Unsecured Creditors of a Solvent Debtor May Be Entitled to Post-Petition Interest at Contract or State Default Rates

USA - September 20 2022 The Situation: Bankruptcy courts have split on what rate of post-petition interest unimpaired creditors of a solvent debtor are entitled to receive…

Bruce Bennett, James O. Johnston, Heather Lennox, Joshua M. Mester, Nicholas C.E. Walter

COVID-19 and Merger Litigation: Takeaways After Two Years

USA - March 28 2022 The COVID-19 pandemic prompted significant litigation concerning Material Adverse Effect ("MAE") clauses and interim operating covenants, with the…

John C. Tang, Marjorie P. Duffy, Randi C. Lesnick, James P. Dougherty, Robert S. Faxon

Delaware Court of Chancery Provides First Guidance on COVID-19 Broken Deal Issues

USA - December 9 2020 This action arose out of a $5.8 billion deal by Mirae Asset Financial Group, a Korean financial services company, to acquire Strategic Hotels &…

Marjorie P. Duffy, Randi C. Lesnick, Brett P. Barragate, James P. Dougherty, Robert S. Faxon