Restructuring News – October 2013
By Joseph N. Argentina, Timothy R. Casey, Howard A. Cohen, Marita S. Erbeck, Andrew C. Kassner, Brian P. Morgan, Andrew E. Weissman
Third Circuit Reaffirms That Section 1123(a) of the Bankruptcy Code Preempts Insurance Policies' Anti-Assignment Provisions
Over the last two decades, many companies faced with excessive asbestos-related liabilities have successfully emerged from bankruptcy with the help of section 524(g) of the Bankruptcy Code, which channels all asbestos-related liabilities of the reorganized company to a newly formed personal injury trust.
Recent Bankruptcy Developments Impacting the Landlord-Tenent Relationship
In drafting the provisions of the Bankruptcy Code relating to nonresidential real property, Congress intended commercial landlords to be “entitled to significant safeguards.”
Staying on the Sidelines – Fifth Circuit Ruling Protects Secured Creditors Who Opt Not to Participate in Bankruptcy Proceedings
Can a secured decide not to participate in a bankruptcy proceeding and thereby avoid any impact the bankruptcy may have on its lien?
A Safe Harbor for Trustees and Bondholders: Using Section 546(e) to Protect Trustees and Bondholders from Avoidance Actions
Section 546(e) of the Bankruptcy Code offers a strong defense for holders of bonds, notes and other securities to preference and fraudulent transfer actions brought in bankruptcy proceedings.
Chapter 9: An Rx for Health Care Districts and Public Hospital Authorities?
Four (4) recent chapter 9 cases by a public health care district in the Northern District of California and by local hospital authorities in Kentucky, Oklahoma and Texas—raise the issue whether chapter 9 may increasingly be seen as a means for public hospitals facing financial distress to restructure (or adjust) their debts.
Private Equity Funds Beware: "Investment Plus" Can Result in Fund Responsibility for Portfolio Companies' Pension Withdrawal Liabilities
Today, who is and will be responsible for funding pension liabilities is a primary consideration in both private and public sector restructurings.
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.
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