Restructuring

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2/2/2018 - Alert
Kirkland & Ellis International LLP
Landmark Court Opinion Increases Liability Risk Profile for German Portfolio Company Management
The German Supreme Court, in an opinion published January 31, 2018, has tightened the rules for determining when a company is “cash flow insolvent” and by extension for determining when a director of a German company has a civil and criminal law obligation to file the company for bankruptcy.
1/25/2018 - Article
Journal of Corporate Renewal
Surviving Retail Distress: How Some Retailers Proved ‘Exceptions to the Rule’
Joshua Sussberg and Matthew Fagen discuss trends in commercial bankruptcies in 2017.
11/15/2017 - Alert
Kirkland & Ellis LLP
Venezuela's Debt Crisis: Creditors' Options in a Disorderly Default
After months on the precipice of default, Venezuela’s President Maduro has acknowl-edged that Venezuela and its state-owned oil company PDVSA are unable to pay their debts. With a series of missed coupon payments and the 30-day grace period expired, all three major ratings agencies now rate Venezuela and PDVSA as in default or selective default.
9/15/2017 - Article
New York Law Journal
Hitting a Moving Target: Why Brick and Mortar Retail Is Alive and Well
Josh Sussberg, Chris Greco and Patrick Venter authored an article regarding opportunities for traditional retailers to succeed in a difficult industry and legal environment.
June 2017 - Article
The Banking Law Journal
German Insolvency Avoidance Action Reform and Its Impact on Financial and Trade Creditors
The German Bundestag recently enacted a reform bill seeking to improve Germany’s stringent insolvency avoidance action regime and incentivize work-outs between debtors and, among others, financial and trade creditors. Bernd Meyer-Löwy and Carl Pickerill discuss the impact of this bill.
2/23/2017 - Alert
Kirkland & Ellis International LLP
German Insolvency Avoidance Action Reform and its Impact on Financial and Trade Creditors
The German Bundestag recently enacted a reform bill seeking to improve Germany’s stringent insolvency avoidance action regime and incentivize work-outs between debtors and, among others, financial and trade creditors.
1/23/2017 - Alert
Kirkland & Ellis LLP
Second Circuit Vacates Marblegate and Removes Uncertainty Surrounding Out-of-Court Restructurings
The U.S. Court of Appeals for the Second Circuit vacated and remanded a controversial district court decision that had held that the Trust Indenture Act (TIA) prohibits amendments to an indenture if the practical impact would be to eliminate a bondholder’s right to receive payment.
1/23/2017 - Alert
Kirkland & Ellis LLP
Second Circuit Vacates Marblegate and Removes Uncertainty Surrounding Out-of-Court Restructurings
The U.S. Court of Appeals for the Second Circuit vacated and remanded a controversial district court decision that had held that the Trust Indenture Act (TIA) prohibits amendments to an indenture if the practical impact would be to eliminate a bondholder’s right to receive payment.
December 1, 2016 - Article
The Bankruptcy Strategist
Bankruptcy Reform in Saudi Arabia: Bridging Islamic Law and Modern Bankruptcy?
Patrick Venter and James Sprayregen authored this article discussing the restructuring of shari’ah-compliant Middle Eastern businesses. Kamran Bajwa also contributed to the article.
9/21/2016 - Alert
Kirkland & Ellis International LLP
Subordination of Senior Financial Creditors in German Bank Resolutions
From 1 January 2017 onwards, certain senior liabilities of German banks are subordinated by law to facilitate “bail-ins” under the Single Resolution Mechanism (SRM).
5/3/2016 - Article
Law360
7 Stages Of Grief: Impact of Oil Downturn on Energy Attys
Andrew Calder, David Castro and Joshua Sussberg authored this article regarding developments in the oil industry.
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