Third Circuit Scuttles Triangular Setoff in BankruptcyPosted on 06-10-2021

By: Charles M. Oellermann and Mark G. Douglas , Jones Day This article discusses a recent decision in the U.S. Court of Appeals for the Third Circuit addressing whether triangular setoff is permissible in bankruptcy. THE ABILITY OF A CREDITOR TO EXERCISE ITS CONTRACTUAL , common-law, or statutory... Read More

Subchapter V Bankruptcy Cases: Recent DevelopmentsPosted on 06-11-2021

By: Mark Haut, Practical Guidance This article provides an update on several developments that have occurred since the Small Business Reorganization Act of 2019 (SBRA) became effective on February 19, 2020. The SBRA created a new bankruptcy option under Chapter 11, known as Subchapter V, which allows... Read More

Case Alert: Chapter 11 Exit Financing Ruling—Section 364 Does Not ApplyPosted on 02-23-2021

By: Daniel J. Merrett and Mark G. Douglas , Jones Day This article discusses a recent U.S. Court of Appeals for the Tenth Circuit bankruptcy appellate panel (BAP) decision on whether Section 364(d)(1) of the Bankruptcy Code 1 could be used to approve Chapter 11 plan exit financing that primed the liens... Read More

Guidance for Distressed Companies: Loan Workouts and Exchange OffersPosted on 06-17-2020

By: Daniel G. Egan , Ropes & Gray LLP with updates by the Lexis Practice Advisor Attorney Team As the Coronavirus pandemic continues to impact our economy, many companies will need to consider whether to pursue a loan workout. This article examines considerations that affect whether and in what... Read More

Representing Parties in Interest in a Chapter 11 BankruptcyPosted on 08-23-2019

By: Mark Haut , Lexis Practice Advisor This article provides general guidance for counsel retained to represent a party in interest in a bankruptcy proceeding. Bankruptcy cases involve myriad issues so coverage in this article is limited to certain general actions that should usually be taken when... Read More

The Recharacterization of Loan Agreements under Applicable Bankruptcy and Non-Bankruptcy LawPosted on 04-12-2017

By: Ira L. Herman , Blank Rome, LLP The Statutory Predicate for Recharacterization To increase their share of a finite bankruptcy pie, creditors, debtors and other parties in interest in a case will seek to reduce or eliminate competing claims. This objective may be accomplished using various provisions... Read More

When Supply Exceeds Demand: Buying and Selling Oil and Gas Assets in the Current Low Price EnvironmentPosted on 06-03-2016

By: Ira L. Herman , Thompson & Knight LLP The price of crude oil, like the price of virtually all commodities, moves up in times of high demand and down in times of excess capacity. When a mismatch exists between supply and demand, the markets are expected to self-correct. Excess supply should... Read More

Director Duties in a Transnational Energy InsolvencyPosted on 03-11-2016

By: Cameron Kinvig LEXIS PRACTICE ADVISOR RESEARCH PATH: Financial Restructuring & Bankruptcy > Identifying Bankruptcy Risk > Oil and Gas Agreements > Practice Notes With oil prices at multi-year lows, the upstream oil and gas industry is reeling. Many exploration and production concerns... Read More