Companies in Chapter 11 must publicly report substantial financial information. Stakeholders should be familiar with what information must be publicly reported or disclosed under securities laws, the Bankruptcy Code, and Bankruptcy Rules. It’s also crucial for turnaround and restructuring...
In recent years, more and more distressed companies have appointed independent directors onto their boards to support the restructuring process, from the initial contingency planning through to plan confirmation and emergence from Chapter 11. Consequently, because it is now more likely that...
A recent wave of key decisions has placed a spotlight on an issue that has divided courts for years. That is, whether unimpaired creditors are entitled to postpetition interest in solvent debtor cases and if so, the appropriate rate of interest that should apply. Since these issues were last...
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...
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...
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...
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...
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...
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 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...
