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Results:1-10 of 43

Twilight of the Deferred Fees: Planning for 2017
  • Schulte Roth & Zabel LLP
  • USA
  • December 19 2016

In 2008, President George W. Bush signed into law the Emergency Economic Stabilization Act of 2008 (H.R. 1424), which, among other things


Second Circuit issues opinion in CSX v. TCI
  • Schulte Roth & Zabel LLP
  • USA
  • July 26 2011

In a long-awaited opinion, the Second Circuit Court of Appeals issued its decision in CSX v. TCI, et al., the hotly-contested litigation arising out of a proxy contest waged in the spring and summer of 2008 in which The Children's Investment Fund ("TCI") and 3G Capital Partners successfully ran a slate of candidates for CSX's board.


SEC issues proposing release to readopt beneficial ownership rules as they relate to security-based swaps
  • Schulte Roth & Zabel LLP
  • USA
  • March 25 2011

On March 17, 2011, the Securities and Exchange Commission (the "SEC") issued a release (the "Release") proposing to readopt, without change, the beneficial ownership rules with respect to security-based swaps, including portions of Rule 13d-3 and Rule 16a-1 of the Securities Exchange Act of 1934 (the "Exchange Act").


FSA Remuneration Code update: final rules and application to hedge fund managers
  • Schulte Roth & Zabel LLP
  • United Kingdom
  • December 21 2010

On 17 December 2010 the UK Financial Services Authority ("FSA") published its delayed policy statement ("PS") and final rules on revising its Remuneration Code ("Code").


Fifth Circuit corrects undervaluation of secured lender’s priority claim more than two years after consummation of reorganization plan
  • Schulte Roth & Zabel LLP
  • USA
  • November 19 2010

The U.S. Court of Appeals for the Fifth Circuit, on Oct. 19, 2010, corrected a bankruptcy court’s calculation of a secured lender group’s superpriority administrative claim more than two years after consummation of the debtor’s Chapter 11 reorganization plan.


SEC provides interpretive guidance on liquidity and capital resources disclosure
  • Schulte Roth & Zabel LLP
  • USA
  • October 5 2010

In mid-September, the SEC published interpretive guidance on disclosures in the Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) relating to liquidity, leverage ratios and contractual obligations.


LBIE administrators extend September 17, 2010 proof of debt submission deadline for Consensual Approach participants
  • Schulte Roth & Zabel LLP
  • USA
  • September 17 2010

Previously, on June 16, 2010, the Joint Administrators (the "Administrators") of Lehman Brothers International (Europe) ("LBIE") announced that they would be testing the feasibility of their so-called Consensual Approach to the resolution of LBIE's unsecured creditor claims.


PCAOB proposes new confirmation standard to reduce risk of financial statement inaccuracy
  • Schulte Roth & Zabel LLP
  • USA
  • August 3 2010

The Public Company Accounting Oversight Board ("PCAOB") has proposed a new standard designed to strengthen requirements for audit confirmations - that is, direct auditor communication with third parties about particular items affecting the audit client's financial statements.


Third Circuit upholds denial of secured creditors’ right to credit bid under reorganization plan
  • Schulte Roth & Zabel LLP
  • USA
  • March 25 2010

The U.S. Court of Appeals for the Third Circuit held, in a split decision, on March 22, 2010, that secured creditors do not have a statutory right to credit bid their debt at an asset sale conducted under a “cramdown” reorganization plan.


Pennsylvania district court denies secured creditors’ right to credit bid in sale auction where debtors had proposed to provide them the “indubitable equivalent” of their claims under plan of reorganization
  • Schulte Roth & Zabel LLP
  • USA
  • November 13 2009

On Nov. 10, 2009, a Pennsylvania district court held that secured creditors do not have an absolute right to credit bid their debt under the Bankruptcy Code (the “Code”) in an asset sale conducted pursuant to a “cramdown” plan of reorganization that proposes to provide the secured creditors with the “indubitable equivalent” of their claims.