To Release or Not to Release? Courts Remain Split on Release Provisions
Release provisions are a common feature of almost every Chapter 11 plan in large bankruptcy cases. Three categories of release provisions typically are included: (i) releases by the debtors of claims they may hold against a list of “released parties;” (ii) consensual releases by and among the non-...
Strategic Considerations  for International Airlines Restructuring under Chapter 11
Since 2020, at least five multinational airlines have filed for Chapter 11 bankruptcy 1 protection before the U.S. Bankruptcy Court for the Southern District of New York. 2 These cases provide a lens through which airlines and restructuring professionals can view potential restructuring efforts and...
Aviation Chapter 11 Cases Take Flight
The COVID-19 pandemic hit the bottom line of many businesses. Among the hardest hit industries has been the travel industry and, in particular, airlines and aviation companies. After suffering a complete shutdown at the beginning stages of the pandemic, airlines struggled to generate ticket sales...
The Impending Collision Between DAOs and U.S. Bankruptcy Courts
The focal point of blockchain technology is the concept of decentralization—that is, no central authority exists with control and decision-making power. As blockchain technology has evolved, innovators have found creative uses of the technology to disrupt centralized structures, including the...
Soliciting and Tabulating Votes  on Chapter 11 Plans from Holders of Publicly Traded Securities
Today, nearly all securities around the world are held electronically at various clearinghouses, including The Depository Trust Company (DTC), Euroclear, and Clearstream International SA. Electronic holding facilitates efficient, immediate, cost-effective, and anonymous trading and contributes to...
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From the 2021 TMA NOW Summit 

CONTENT WARNING

Between Boy Scouts, Weinstein, USA Gymnastics, and the many Diocese cases, the number of bankruptcy cases involving sex abuse-related claims and litigation has steadily increased. Join us for an engaging discussion of the issues and...

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Q: How did you gravitate into turnaround/restructuring work? Wilson: It was completely by happenstance. I went to law school at the University of Hawaii wanting to do environmental regulation and environmental litigation. I have a certificate in environmental law. I graduated from law school in...
The Book on  Siegel v. Fitzgerald: The U.S. Trustee Program and Cold, Hard Cash
U.S. inflation recently hit a headline-grabbing, 40-year high of 8.6%. Alarming as that may be, it pales in comparison to the increase in U.S. Trustee fees Congress imposed in 2017. Most debtors experienced fee hikes of at least 700%, while some saw increases of as much as 1,250%. The sticker shock...
Strategic Communications in Mass Tort Restructurings
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...
Standards and Strategies for Voting and Solicitation in Mass Tort Bankruptcies
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...