In our latest insight we look back at the key restructuring cases and events from last year in the United States, Asia-Pacific, and Australia and consider the outlook in 2024 for restructuring transactions as a whole. This insight provides an overview of the US banking crisis involving Silicon Valley Bank and Signature Bank, the … Continue Reading
Join SPB’s global chair of R&I Stephen Lerner and an esteemed panel of experts for an American Bankruptcy Institute (ABI) webinar addressing recent developments impacting formal and informal debt-restructuring procedures in the U.S. and Europe, practical issues for lawyers advising on cross-border debt-restructurings, key legal strategies regarding a cross-border debt-restructuring, and the role of management … Continue Reading
On Tuesday, March 22, 2022, Squire Patton Boggs and the American Bankruptcy Institute hosted a webinar titled “The Conflict in Ukraine: Impact on Capitals, Markets and Boardrooms.” The webinar featured a distinguished panel of Squire Patton Boggs professionals, including former Speaker of the US House of Representatives John Boehner, Career Ambassador Frank Wisner, Ambassador Matthew … Continue Reading
On December 16, 2021, United States District Judge Colleen McMahon of the Southern District of New York overturned the confirmation of Purdue Pharma’s chapter 11 plan of reorganization, “put[ting] to rest” the non-consensual third-party releases debate that has “hovered over bankruptcy law for thirty five years.” Judge McMahon concluded in her 142-page opinion that “the … Continue Reading
A restructuring plan may well be a very effective way of restructuring a foreign company. It has several advantages over a scheme of arrangement and with a relatively low entry threshold, the English court has already sanctioned at least one plan for a foreign company in the relatively short time that it has been available. … Continue Reading
On Friday, October 16, 2020 we hosted a webinar along with the American Bankruptcy Institute, that featured a distinguished panel of professionals, including former Speaker of the US House of Representatives John Boehner, former Congressman and Chairman of the Democratic Caucus Joseph Crowley, former Congressman Bill Shuster, former Secretary of Transportation Rodney Slater, Karol Denniston … Continue Reading
On Thursday, May 21, 2020, the American Bankruptcy Institute (ABI) hosted a webinar, featuring a distinguished panel of professionals, including former Speaker of the US House of Representatives John Boehner, as well as the current senior US Senator from West Virginia, Joe Manchin, who shared their thoughts on how best to safely and gradually re-open … Continue Reading
Bankruptcy is a term that tends to instill images of “For Sale” or “Everything Must Go” signs posted in windows, but this often is not the case. In fact, a bankruptcy filing is one way for a business to refocus its efforts and reorganize. Indeed, throughout history, many Fortune 500 companies have at some point … Continue Reading
The nearly $350 billion loan program made available to small businesses by the Coronavirus Aid, Relief, and Economic Security (CARES) Act was tapped out in less than two weeks. In response to this overwhelming demand, on Friday, April 24, 2020, an additional $320 billion was funded into the loan program, and the second round of … Continue Reading
In light of the disruption caused by the COVID-19 pandemic and resulting global economic slowdown, many companies—even previously healthy ones—are now faced with difficult decisions regarding investments, loans, employees, and myriad other matters in order to ensure their survival. It is in these times that directors must be especially aware of and abide by their … Continue Reading
On June 26, 2019, the European Parliament and the Council of the European Union published a new EU Restructuring Directive on preventive restructuring frameworks, discharge of debt and disqualifications, and measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt (“Directive”). This is an extraordinary achievement given the existing differences in … Continue Reading
On January 29, 2019, California’s Pacific Gas and Electric, one of the nation’s largest utilities, filed for Chapter 11 bankruptcy protection. PG&E’s bankruptcy is certain to be one of the largest and most complex restructurings in recent years and will involve state and federal regulators and a myriad number of issues, including the impact of … Continue Reading
eSquire Global Crossings will be on holiday until the New Year. We look forward in 2018 to continuing to bring our readers observations and insights on significant restructuring and insolvency issues, cases and developments from the United States, the United Kingdom, Europe, Australia and around the world. We wish everyone a happy holiday and a great New … Continue Reading
Last week our Energy Restructuring Team attended the Energy CFO Roundtable in Houston that focused on “Restructuring in the Oil Patch”. Stephen Lerner, the chair of our Restructuring & Insolvency Practice Group, was one of the panelists. In this blog we summarize some of the important takeaways from the Roundtable, along with our current thoughts … Continue Reading
eSquire Global Crossings will be on holiday until the New Year. We look forward in 2016 to continuing to bring our readers observations and insights on significant restructuring and insolvency issues, cases and developments from the United States, the United Kingdom, Europe, Australia and around the world. We wish everyone a happy holiday and a great … Continue Reading
It has been one year since we launched our global and cross-border restructuring and insolvency blog, eSquire Global Crossings. The blog has been a tremendous success and we have you, our loyal clients and friends, to thank. In more than 160 blog entries to date, we have provided our observations and insights on significant restructuring … Continue Reading
The recent decision of the United States Court of Appeals for the Third Circuit in In re One2One Communications, LLC may radically alter the ability of debtors to escape appeals of confirmed plans for reorganization. The Third Circuit, which governs the influential Delaware bankruptcy courts, has for almost 20 years embraced the judicially created doctrine of … Continue Reading
Illinois Governor Rauner presented his turnaround agenda in his “State of the State” address last week and called for, among other things, the state “to extend to municipalities bankruptcy protections.” Mirroring the proposed legislation introduced by Representative Ron Sandack in January, and reported on in an earlier post, Illinois seems positioned to provide municipalities with clear … Continue Reading
On February 6th, Federal District Judge Francisco Besosa ruled that Puerto Rico’s municipal debt-restructuring law, the “Recovery Act”, was unconstitutional stating that: “The Recovery Act is pre-empted by the federal Bankruptcy Code and is therefore void.” The Court also permanently enjoined current and future government officials from enforcing the Act. Puerto Rico has announced that … Continue Reading
Illinois’ municipal distress is severe and we have witnessed the political maneuvers to address Chicago’s ongoing fiscal dilemma. In 2013, Chicago Mayor Rahm Emmanuel stoked bankruptcy fears citing the city’s ballooning pension obligations that he estimated could exceed $1.6 billion in 2016. Pew Charitable Trusts has reported that among the nation’s five largest cities, Chicago … Continue Reading
The bankruptcy laws of the United States have a rich history, stemming in significant part from the railroad failures of the late 19th century, and the Great Depression of the 1930s. In 1970, Congress established a “Commission on the Bankruptcy Laws of the United States” to study and recommend changes to the Bankruptcy Act of … Continue Reading
Say what you will about Detroit’s bankruptcy case, but when it is all said and done, the value for each of its participants most likely lies in the learning experience. And, experience is sometimes a painful teacher. One of the many take-aways is a framework for what constitutes a workable or “feasible” plan of adjustment … Continue Reading
