Call 855-808-4530 or email GroupSales@alm.com to receive your discount on a new subscription.
On Feb 27, 2018, in Merit Management Group, LP v. FTI Consulting, Inc., 138 S. Ct. 883 (2018), the Supreme Court of the United States issued a decision holding that: 1) the only relevant transfer for purposes of analyzing whether the Bankruptcy Code section 546(e) “safe harbor” applies is the “overarching transfer” that the trustee is seeking to avoid (as opposed to the component transfers between mere intermediaries); and 2) under the facts presented, the relevant transfer between the debtor and transferee was not covered by the safe harbor because it was not “made by or to (or for the benefit of)” a “financial institution” or other covered entity. Merit Management Group, LP v. FTI Consulting, Inc., 138 S. Ct. 883 (2018), abrogating In re Quebecor World (USA) Inc., 719 F.3d 94 (2d Cir. 2013), In re QSI Holdings, Inc., 571 F.3d 545 (6th Cir. 2009), Contemporary Indus. Corp. v. Frost, 564 F.3d 981 (8th Cir. 2009), In re Resorts Int’l Inc., 181 F.3d 505 (3d Cir. 1999), In re Kaiser Steel Corp., 952 F.2d 1230 (10th Cir. 1991).
By Adam C. Rogoff
In today’s global economy, companies often have multiple business lines operating through separate entities. Outside of bankruptcy, these affiliated operations sometimes transact in a holistic — albeit legally distinct — debtor-creditor relationship with their counterparty. But, as this article discusses, the legal separateness of affiliates can hinder economic protections that a creditor might have otherwise when its counterparty files for bankruptcy.
By Joel H. Levitin, Richard A. Stieglitz Jr. and Stephen J. Gordon
Bankruptcy Provisions in First Lien/Second Lien Intercreditor Agreements
While intercreditor agreements (ICAs) are not necessarily the most attention-grabbing of the various loan documents common to large financing transactions, they are nevertheless important, and lack of attention to detail with respect to their provisions could lead to unintended results in any future bankruptcy case.
By Earl M. Forte
In January, a bench trial occurred in In re Covenant Partners, L.P., in which the Trustee of Debtor, Covenant Partners, L.P., sued for breach of fiduciary duty.
By Richard J. Mason
This article looks at some of the issues that may arise if a cryptocurrency exchange becomes a debtor in a case under the Bankruptcy Code.