Join the team of professionals who helped save the largest privately owned coal company in the U.S., Murray Energy Holdings Co. In one of the most complex cases of 2020, Murray shed much of its $2.7 billion in funded debt and ~$8 billion in actual or potential legacy liabilities, providing its...

From the 2022 TMA NOW Summit 

The Texas Two-Step is a strategy that has been used by companies with enormous tort liabilities and it is getting a lot of attention now. Join us to learn more about what the Texas Two-Step is, how it’s being used, and the variety of issues it involves. We’ll...

Getting to Yes in DIP Financing Negotiations
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...
European Outlook: Considerations  for Lenders
As Europe prepared to emerge from the COVID-19 pandemic and navigate the resultant uncertain economic environment, Russia invaded Ukraine in February 2022, plunging the continent into disarray once again. The unprecedented pandemic followed on the heels of Brexit, which itself will have lasting...
The Turnaround Square: Mediation and Privilege

Join Cullen Speckhart, co-author of the Journal of Corporate Renewal article, “Amendments to Delaware Local Rules Clarify the Scope of Mediation Privilege,” for a timely discussion with Evan Lazerowitz and Richard Mikels. While Delaware has been at the forefront of bankruptcy mediation...

Pros and Cons of Pre-Discovery Mediation in Mega Bankruptcy Adversary Proceedings
A 10-figure bankruptcy demands innovative approaches to case management and court administration, especially where large numbers of adversary proceedings are expected. One trend in recent cases—pre-discovery mediation—is proving successful in that regard, although it does have potential pitfalls of...
Subchapter V Provides a Promising Path for Settling Disputes  in Bankruptcy
For decades, mediation in bankruptcy has been a preferred method for resolving disputes involving distressed entities, and the enactment of the Small Business Reorganization Acct (SBRA), which became effective on February 19, 2020, practically ensured that this trend would continue. Since the 1980s...
Two Recent Complex Cases Demonstrate the Value of Mediation in Building Consensus
Complex Chapter 11 practice is, at its core, an exercise in consensus building. Mediation has historically been and remains a valuable tool in helping parties involved in Chapter 11 cases (large and small) reach consensus. Two recent examples underscore the value of mediation as a consensus...
Amendments to Delaware Local Rules Clarify the Scope of Mediation  Privilege
On February 1, 2022, amended local rules for the U.S. Bankruptcy Court for the District of Delaware went into effect. Among other things, the Bankruptcy Court’s revised local rules clarify the scope of mediation confidentiality protections. The amended local rules are likely to be seen as welcome...
How Bankruptcy Courts Weigh Requests to Compel or Intervene in Mediation
Frequently, parties locked in a dispute in a bankruptcy case are able to reconcile their differences through a mediation process, as permitted by the local rules and often with encouragement of the court. While Bankruptcy Courts welcome mediation between consenting parties, a court’s discretion is...