While companies and advisors understand that communications and stakeholder relations have an important role to play in a successful restructuring process, the need to effectively plan for and manage communications in mass tort Chapter 11 cases is significantly heightened. The restructuring process...
In bankruptcy law, insurance neutrality is closely related to the issue of standing. A bankruptcy plan of reorganization is insurance neutral if it does not increase an insurer’s “pre-petition obligations nor impair their pre-petition contractual rights under the subject insurance policies.” In re...
In recent years, Bankruptcy Courts have seen an influx of bankruptcies that primarily result from a debtor’s outstanding mass tort liability. While many commentators focus on plan confirmation issues, such as non-debtor releases, mass tort bankruptcies pose unique challenges in the solicitation and...
Insolvency and restructuring proceedings under Canada’s Companies' Creditors Arrangement Act (CCAA) have come a long way over the last 20 or so years. There was a time when a company couldn’t hope to benefit from CCAA protection without a clear path to restructuring its business and settling its...
How mass torts may be addressed through a bankruptcy process is a topic garnering significant academic and practical attention, but for which there is no easily identifiable solution. Although a fundamental goal of U.S. bankruptcy laws is to give debtors a financial fresh start from burdensome...
Turnaround professionals are often tasked with helping their clients obtain the capital needed to navigate the restructuring process. To meet this challenge, it is essential to understand the wide variety of commercial financing options available. The commercial lending industry is still adjusting...
As the pandemic headwinds continue to buffet the economy and the spectre of spiralling energy costs and long-term inflation looms large, businesses that were once riding high now risk being deflected off course just at the time when they are trying to navigate their emergence. With near-term...
The concept and benefits of providing debtor-in-possession (DIP) financing under Bankruptcy Code Section 364 are not new. But because DIP financing negotiations are often conducted on a compressed timeline and can be both complex and laborious, this article serves as both a primer and refresher for...
The well-known pop song “Blurred Lines” is about the conflict between societies’ desire for more and the desire to respect boundaries. The song could be describing the current state of affairs between and among investment banks, on the one hand, and, on the other, turnaround firms and accounting...
Over the past two years, distressed investing has been, well, distressed. Fewer opportunities have been available for distressed lenders outside of industries directly impacted by COVID, such as hospitality. New Federal Deposit Insurance Corporation (FDIC) rules have allowed banks more leeway to...
