Weil

Restructuring

Financing

Financing, What We're Watching

Tighter Aircraft Market Demands Creative Restructuring Solutions

Contributor(s)

Assumption & Rejection, Automatic Stay, Chapter 11 Plans, Chapter 15, Cramdown, DIP Financing, Executory Contracts & Unexpired Leases, Financing, International, Jurisdiction & Appeals, Out-of-Court Restructuring, Pre-Filing Considerations, What We're Watching

Aviation Chapter 11 Cases Take Flight

Contributor(s)

Case Overviews, Claims, Distressed Debt Funds, Financing, Litigation Issues, Post-Confirmation Issues, Sponsor/Owner Series, Third Party Claims

ASHINC or Swim Case Study: Lessons for Private Equity Sponsors on Distressed Portfolio Company Risks (Part I: Sponsor Breach of Company Loan Agreement)

Contributor(s)

Ronit J.
Berkovich

Case Overviews, Financing, Secured Claims

Covenant of Good Faith and Fair Dealing Examined: La Paloma

Contributor(s)

Ronit J.
Berkovich

Usury Bites—A Refresher on an Easily Overlooked Issue in the Restructuring and Private Equity Arenas

Contributor(s)

How a “Voluntary” Default under An Indenture Converted an Optional Redemption Provision into a Mandatory Redemption Provision Requiring Payment of a Make-Whole Premium

Contributor(s)

Financing, Jurisdiction & Appeals

The Marblegate Oral Argument in the Second Circuit Court of Appeals

Claims, Financing

No Authorization? No Problem. Court Finds that Unauthorized Loan Is Entitled to Priority Status

Avoidance Actions, Chapter 15, Chapter 7 Trustees, Claims, Due Process Concerns, Financing, International, Litigation Issues, Lookback Period, Mass Torts

Lookback Period: Two Weeks

Financing, Litigation Issues

Judge Scheindlin Rules in Caesars that Trust Indenture Act Bars “Core” Impairments; Certifies the Issue to the Second Circuit OR What’s the Deal with the Caesars Parent Guarantee Litigation? [PART II]

Financing, Litigation Issues

Judge Scheindlin Rules in Caesars that Trust Indenture Act Bars “Core” Impairments; Certifies the Issue to the Second Circuit OR What’s the Deal with the Caesars Parent Guarantee Litigation? [PART I]

Avoidance Actions, Chapter 11 Plans, Claims, Executory Contracts & Unexpired Leases, Financing, Jurisdiction & Appeals, Litigation Issues, Lookback Period, News, Professionals, Real Estate, Rules & Procedures, Subordination & Recharacterization

Lookback Period: Two Weeks

Momentive Plan Confirmation Affirmed: I Can See Clearly Now the Claim Has Gone

Contributor(s)

David
Griffiths

Financing, Professionals, Valuation

Bankruptcy Court Denies Debtor’s Request to Pay Estate Professionals With Cash Collateral

Contributor(s)

Gabriel A.
Morgan

Second Circuit Holds Secured Creditor to Errant Termination Statement Filing

Automatic Stay, Financing

Postpetition Ratification of Prepetition Stay Waivers – A Possible End Around of the General Prohibition Against Prepetition Waivers of Bankruptcy Rights?

Avoidance Actions, Financing, Subordination & Recharacterization

There’s a Thin Line Between Equity and Debt: Affiliates, Advances and Avoiding Recharacterization

Avoidance Actions, Financing, International

Free Trade, Comity, and the Bankruptcy Code

Court Refuses to Equitably Subordinate Because Conduct Was Consistent With the Contract

Chapter 11 Plans, Financing, Releases & Exculpations

Momentous Decision in Momentive Performance Materials Part IV: Make-Wholes and Third Party Releases

Contributor(s)

Chapter 11 Plans, Financing

Momentous Decision in Momentive Performance Materials: Subordination Is as Subordination Does

Avoidance Actions, Financing

“Release the Kraken” II: For Want of a Lien, the Botticelli Could Be Lost. . .

Corporate Governance & Fiduciary Duties, Financing, Involuntary Petitions

Is Your Child Controlling You? Delaware Bankruptcy Court Holds that Subsidiaries Can Owe Fiduciary Duties to their Parents

Claims, Financing, Professionals, Secured Claims

You Can’t Always Get What You Want, But If You’re an Oversecured Creditor, You Might Get What You Need

Draft Wisely or Pay Dearly: The Fifth Circuit Weighs in on the Enforceability of Prepayment Premiums (Absent Prepayment)

Claims, Financing

If It Walks Like Equity and Talks Like Equity, It … Might Actually Be a Loan?

Automatic Stay, Financing, Litigation Issues, Valuation

What Not to Do When Trying to Establish a $20 Million Value for Estate Property (Hint: Don’t Rely Solely on Google Earth)

No More Separation Anxiety – Court Confirms Operational Separateness of Bankruptcy Remote Entity

363 Sales, Financing, Secured Claims

To Surcharge or Not to Surcharge: The Third Circuit Says Only in Sharply Limited Circumstances

Thank You Very Much, Do We Have a Contract? Not So, Says Judge Gerber

Avoidance Actions, Claims, Financing

Score One for Federalism – State Law, Recharacterization, and Fraudulent Conveyances in the Ninth Circuit

363 Sales, Financing

Now That’s What I Call Reasonable! Collateral Dispositions Under Article 9 of the UCC

Avoidance Actions, Financing

“Show Me the Money (or Money’s Worth)” — Divided Court of Appeals Finds New Value Defense Protects Surety’s Use of Loan Proceeds

363 Sales, Financing

Diversions and Restorations: A Glimpse into New York Lien Law

Contributor(s)

Andriana
Georgallas

Chapter 11 Plans, Financing, Real Estate, Secured Claims

Separate But Not Equal: Bankruptcy Court Requires Subordinated Secured Debt to Be Classified Separately from Senior Secured Debt

Claims, Financing, Secured Claims, Valuation

Who Captures the Upside? Third Circuit Considers Valuation of Collateral Expected to Generate Cashflow in Excess of Secured Claims

Financing, Secured Claims

“Don’t Have a Cow, Man”: Court Rules that a Lender’s Perfected Security Interest in Cattle Does Not Lapse Where the Lender Fails to File a Postpetition UCC-1 Continuation Statement

Avoidance Actions, Case Overviews, Claims, Energy Sector, Financing

Dynegy Global Settlement Approved

Financing, Secured Claims

Imperfect Roses—a Valentine’s Day Lesson for Secured Lenders

Putting Bankruptcy Remoteness on Trial in the Seventh Circuit – Defining the Parameters of “Operational Separateness” for an SPE

Automatic Stay, Claims, Financing, Jurisdiction & Appeals, Pre-Filing Considerations, Secured Claims

Aggressive Creditors: Go Overboard, And You May Find Yourself Walking the Plank

Chapter 11 Plans, Financing

Torpedoing Plans 101: Court Refuses to Enforce Assignment of Junior Creditor’s Right to Vote on a Plan

Reaffirmation Agreements – Not Just for Individual Chapter 7 Debtors

Financing, Jurisdiction & Appeals

You Can’t, But We Can: DB Capital Follow-Up

Update on U.S. Oncology: New York State Court Considers Prepayment Calculation Method, Decision Forthcoming This Fall

Chapter 11 Plans, Financing, Secured Claims

Tranche Warfare, or How I Learned To Stop Worrying and Love Bankrupt CDOs

Avoidance Actions, Energy Sector, Financing

Be Careful What You Draft for: Delaware Chancery Court Blesses Dynegy’s Reorganization

Contributor(s)

Gabriel A.
Morgan

The [Un]Interesting Side of Prepayment Premiums: Delaware Court Rules that Make-Whole Provision Gives Rise to Liquidated Damages, Not Interest Payments

I Wish I May, I Wish I Might…File Chapter 11 Tonight: Authorization and D&O Considerations When Filing Chapter 11

Chapter 11? No Thank You! Courts Find Restrictions on Bankruptcy Filings in LLC Agreements Enforceable

Bad Boys, Bad Boys…Whatcha Gonna Do When They Come For You?

Financing, Secured Claims

In re Chemtura Corporation: An Analysis of the Enforceability of Make-Whole and No-Call Provisions in the Southern District of New York

U.S. Oncology: An Update on Recent Disputes in Make Whole Provisions

363 Sales, Financing

Senior Lenders “Shocked” By Sale Order Holding Second Liens Have Standing to Oppose Sale

Financing, Secured Claims

Noteholders in the Southern District of New York Not Entitled to an Unsecured Claim for Expectation Damages Resulting From a No-Call Provision in an Indenture

Financing, Secured Claims

Solvent Debtors Beware – Noteholders May Be Entitled to an Unsecured Claim for Expectation Damages Resulting From a No-Call Provision in Indenture

Has Bankruptcy Remoteness Become, Well, More Remote in the Seventh Circuit?

Adequate Protection: Snoozing May Not Mean Losing…in the Ninth Circuit

Walking the Tightrope: Disclosing Too Little or Too Much about Exit Fees?

CBGB Heebie Jeebies, or Hey, Ho, Foreclose!

Executory Contracts & Unexpired Leases, Financing, Letters of Credit

Abstention Decision Raises Troubling Issues on Letters of Credit