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Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, examines the Dutch leg of cash machine manufacturer Diebold Nixdorf’s Chapter 11 proceeding after two key decisions were finally published last month.
06 November 2023
The US could be put at a competitive disadvantage if the country’s highest court finds that third-party releases granted to Purdue Pharma’s non-debtor owners are not authorised by the Bankruptcy Code, according to a pair of prominent academics.
04 October 2023
The US Securities and Exchange Commission and federal law enforcement agencies have brought fraud charges against former executives of global software group Pareteum, which filed Chapter 11 proceedings last year after blaming its management for misstating revenues.
29 September 2023
A former partner at several well-known US law firms has pleaded guilty to bankruptcy fraud before a federal court in New York.
14 September 2023
A Bermudian segregated accounts company linked to global insurance broker Aon is seeking Chapter 15 relief to aid its discovery efforts against bankrupt Israeli fintech Vesttoo, who it has threatened with arbitration over an alleged large-scale fraud.
29 August 2023
After hiring Deborah Hoehne in February, Goodwin has announced another lateral from Weil in New York, this time welcoming a partner that had been with the firm for more than two decades.
04 August 2023
The owner of a bankrupt Manhattan hotel must pay the default interest rate envisaged in its loan agreement, in order to cure and reinstate the loan in its reorganisation plan, a New York court has found, addressing a long-running issue under the US Bankruptcy Code.
03 August 2023
Transatlantic law firm Womble Bond Dickinson has expanded its bankruptcy team into New York for the first time, hiring three partners from Lowenstein Sandler and East Coast firm Montgomery McCracken.
27 July 2023
Rejecting investment bank B Riley’s motion to dismiss a claim that it violated Essar Steel’s bankruptcy plan, a US court has urged parties to take particular care if they expect agreements to be enforceable when they carry out business with a debtor-in-possession after a plan is confirmed but before the plan’s effective date.
27 June 2023
“Sophisticated financial titans engaged in a winner-takes-it-all battle. There was a winner and a loser”. North American bedding group Serta Simmons has secured approval of its “extraordinarily complex” Chapter 11 plan, after a Texas judge rejected objections from lenders who argued a 2020 liability management transaction the debtor engaged in breached an implied covenant of good faith.
08 June 2023
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