Bankruptcy and Insolvency News and Analysis – Week Ending April 22, 2016

22 Apr Bankruptcy and Insolvency News and Analysis – Week Ending April 22, 2016

Trends

Triple negative – making sense of the current wave of corporate restructurings

Task Force Studying Individual Chapter 11 Filings

Workouts and Restructuring

Please Buckle Your Seatbelts and Check Your D&O Insurance: A Gloomy Forecast Is Ahead

Bankruptcy Court Chips Away at Bankruptcy Remoteness of Special Purpose Vehicles

Executory Contracts

Late Is Never Better! Timeline to Protect Your Contract in a Market Downturn

Claims and Creditors

“When Worlds Collide: Article 2 of The Uniform Commercial Code and Chapter 11”

Avoidance and Recovery

Second Circuit Limits Creditors’ Ability to Claw Back LBO Payments

Seventh Circuit Finds Tax Sale Avoidable

Sales

Third Circuit Permits Purchaser in Section 363 Sale to Make Payments to Interested Parties, Deviating from Bankruptcy Code Priority Scheme

Confirmation

Ninth Circuit Rulings on Equitable Mootness in Transwest and Sunnyslope Impact Third Party Investors

Improper Calculation of Postpetition Interest Leads to Reversal of a Confirmation Order