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Kobre & Kim LLP announced that Daniel Saval has joined the firm’s cross-border insolvency litigation practice as a partner in the New York office. Formerly a partner at Brown Rudnick, Saval represents clients in multijurisdictional insolvency and corporate restructuring disputes, and he has particular experience in contentious proceedings involving funds in liquidation triggered by fraud or wrongdoing. Saval recently represented Carl Icahn entities in the Trump Entertainment bankruptcy proceedings, during which Mr. Saval litigated plan confirmation issues relating to cramdown interest rates, enforceability of intercreditor agreement provisions and termination of intellectual property licenses.
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.
By John J. Rapisardi and Daniel Shamah
PG&E Corporation and its subsidiary, Pacific Gas & Electric Company announced that it expects to file for Chapter 11 bankruptcy protection on or around Jan. 29, 2019, right around the conclusion of a mandatory 15-day notice requirement under California law. Such a filing would represent the second time PG&E resorted to protection under the U.S. Bankruptcy Code.
By H. Peter Haveles, Jr. and Eric Winston
The bankruptcy court’s ruling is a seminal decision that meaningfully circumscribes the ability of a secured noteholder under an indenture, particularly for structured debt, to force the debtor (i.e., issuer of the debt) into an involuntary bankruptcy.
By Timothy W. Hoffmann and Mark G. Douglas
In Nuverra Environmental Solutions,, the U.S. District Court for the District of Delaware affirmed a bankruptcy court order confirming a non-consensual Chapter 11 plan that included “gifted” consideration from a senior secured creditor to fund unequal distributions to two separate classes of unsecured creditors.