Tags » Bankruptcy And Restructuring

Gibson Dunn Discusses the Supreme Court's Ruling on Bankruptcy Code's “Safe Harbor”

On February 27, 2018, the U.S. Supreme Court issued a decision in Merit Management Group, LP v. FTI Consulting, Inc. (No. 16-784), settling a circuit split regarding the “safe harbor” provision in § 546(e) of the Bankruptcy Code. 1,167 more words

Bankruptcy And Restructuring

How Preliminary Examiners Could Improve Corporate Governance for Companies in Bankruptcy

In my article Chapter 11, Corporate Governance and the Role of Examiners, I propose a possible solution to corporate governance problems caused by the debtor-in-possession model of Chapter 11 bankruptcy proceedings. 1,164 more words

Corporate Governance

Latham & Watkins Discusses Venezuelan Debt Dilemma

On November 2, 2017, President Maduro of the Bolivarian Republic of Venezuela announced the creation of a presidential commission, headed by Vice President El Aissami, for the “refinancing and restructuring” of Venezuela’s external debt, estimated at between US$100-150 billion. 1,613 more words

International Developments

The Empty Idea of “Equality of Creditors”

For 200 years, the equality of creditors norm—the idea that similarly situated creditors should be treated similarly—has been widely viewed as the most important principle in American bankruptcy law, rivaled only by our commitment to a fresh start for honest but unfortunate debtors.    903 more words

Bankruptcy And Restructuring

Tracing Equity: How the Bankruptcy Code Respects State Law Entitlements

Law and economics scholars have long argued that efficiency is best served when a firm’s capital structure is arranged as a single, hierarchical value waterfall. In such a regime, claimants with seniority are made whole before the next-junior stakeholders receive anything. 762 more words

Bankruptcy And Restructuring

Bankruptcies, Bailouts, and the Politics of Corporate Reorganization

Bankruptcy law has evolved over the centuries as an orderly way to deal with dying firms. However, during the recent recession, many policy experts, officials, and legislators advocated sidestepping the bankruptcy process and resorting to so-called bailouts. 1,149 more words

Bankruptcy And Restructuring

Was Justice Scalia’s Judicial Philosophy Right for the Bankruptcy Code?

Much has been written about U.S. Supreme Court Justice Antonin Scalia’s interpretive philosophy and his overall impact on the law.  But surprisingly little attention has been paid to his contributions to modern bankruptcy law. 933 more words

Bankruptcy And Restructuring