Searching Content indexed under Insolvency/Bankruptcy by Orrick ordered by Published Date Descending.
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Diligence Deferred Is A Transfer Denied
Buyer first argued that the anti-assignment clause could not invalidate the transfer as a matter of Delaware law.
United States
17 Jun 2019
Ninth Circuit Holds Protecting A Claim To Its Fullest Extent Is Not Evidence Of Bad Faith
The Ninth Circuit Court of Appeals recently held that a secured creditor's purchase of general unsecured claims to block confirmation of a Chapter 11 plan did not in itself constitute bad faith.
United States
14 Jun 2019
Plaintiffs Cannot Claim Creditor Status Retroactively
The Fifth Circuit Court of Appeals reminded the plaintiff that standing is "determined as of the commencement of the suit" and post filing claims purchases will not suffice to establish standing.
United States
14 Jun 2019
Mutuality – Irrefutable Requirement For Setoff Under Section 553
Another decision has been issued that reinforces that section 553 does not allow setoff without mutuality, or "triangular setoff."
United States
13 Jun 2019
A Convergence Of Insolvency Regimes – Europe In The Brexit Era
As part of a continued effort in Europe to reform insolvency legislation, the British government issued a paper in March 2018 as a response to a draft directive published by the European Commission in November 2016.
European Union
13 Jun 2019
Second Circuit Affirms Dismissal Of Chapter 15 Appeal By Purported Shareholder On Standing Grounds
In a March 19, 2019 summary order, the U.S. Court of Appeals for the Second Circuit affirmed the district court's dismissal of a purported shareholder's appeal challenging the chapter 15 recognition
United States
10 Apr 2019
Reform Of Insolvency Legislation Is Approved
On 11 January 2019, the Council of Ministers approved the text of the legislative decree containing the new code of corporate distress [1] and insolvency (the "Insolvency Code").
United States
8 Apr 2019
Update To Madoff
Following our post on the district court's extraterritoriality decision, the bankruptcy court dismissed the actions against several defendants on the grounds that the presumption against extraterritoriality ...
United States
5 Mar 2019
Le novità in materia di diritto societario varate in sede di adozione del "Codice della crisi di impresa e dell'insolvenza"
Il Governo ha recentemente approvato, in esame definitivo, il testo del Decreto Legislativo che introduce il nuovo "Codice della crisi d'impresa e dell'insolvenza", in attuazione della Legge 19 ottobre 2017, n. 155, ...
30 Jan 2019
A Major Shift Of The Italian Supreme Court On Bankruptcy Buy-Outs (Concordati Fallimentari)
With a decision taken on 28 June 2018 (decision n. 17186) the united chambers (sezioni unite) of the Italian Supreme Court have ruled that whenever a bankruptcy buy-out proposal
20 Jul 2018
Recast EU Insolvency Regulation Comes Into Force
Yesterday, on 26 June 2017, the Recast EU Insolvency Regulation (Council Regulation (EC) No. 2015/848) came into force.
European Union
4 Jul 2017
The Gorsuch Nomination: The Return Of The Business Friendly Court?
After reviewing Judge Gorsuch's background and record of judicial opinions, it appears that the prior relatively pro-business conservative trajectory of the Supreme Court will now be restored.
United States
15 Feb 2017
Orrick's Marc Levinson Compares Chapter 9 To Chapter 11 For The Federal Judicial Center Website
Orrick Restructuring Senior Counsel Marc Levinson is one of the chapter 9 experts assisting in the preparation of a chapter 9 manual for bankruptcy judges and court clerks that has been posted on the website...
United States
11 Jan 2017
Amendments To California PACE Financing Statutes Become Effective January, 1 2017
On January 1, 2017, certain amendments to California's current statutory schemes for authorizing Property Assessed Clean Energy (PACE) financing programs will become effective.
United States
29 Dec 2016
Supreme Court Hears Oral Argument In Jevic On Whether Distribution Of Settlement Proceeds May Depart From Statutory Priority Scheme
The United States Supreme Court heard oral arguments on December 7, 2016 in Czyzewski v. Jevic Holding Corp. The case poses a question that has divided the Second, Third, and Fifth Circuits...
United States
15 Dec 2016
Sixth Circuit Finds Bankruptcy Court Cannot Force City To Provide Services In Chapter 9
On November 14, 2016, the United States Court of Appeals for the Sixth Circuit held that courts in chapter 9 cases lack authority to order a municipal debtor to provide services to its constituents.
United States
12 Dec 2016
Third Circuit Departs From Momentive And Reinstates EFIH Noteholder Make-Whole Claims Causing Uncertainty Over EFH's Ability To Exit Bankruptcy
Recently, the Third Circuit reversed decisions issued by the Delaware Bankruptcy and District Courts and permitted first and second lien noteholders of Energy Future Intermediate Holding Company LLC...
United States
7 Dec 2016
Implementing Regulation On Information For Calculation Of Technical Provisions And Basic Own Funds For Q4 2016 Reporting Under Solvency II Adopted By European Parliament
On November 11, 2016, the European Commission adopted an Implementing Regulation laying down information for the calculation of technical provisions and basic own funds for reporting with reference dates...
United States
18 Nov 2016
U.S. Sixth Circuit Holds That Customary Language In Amendment And Restatement Agreements May Extinguish Existing Security Interests Via Novation
On August 23, 2016, the U.S. Court of Appeals for the Sixth Circuit held in the Chapter 7 bankruptcy case In re Fair Finance Company
United States
21 Oct 2016
The OCC Proposes Rule To Address Concerns Relating To Exercise Of Default Rights Under Qualified Financial Contracts
On October 3, 2016, the Office of the Comptroller of the Currency proposed a rule to enhance the resilience of federally chartered and licensed financial institutions.
United States
17 Oct 2016
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