Delaware District Court Affirms Chapter 15 Recognition Order Enforcing Nonconsensual Third-Party Releases

Can U.S. bankruptcy courts enforce foreign restructuring plans containing nonconsensual third-party releases under Chapter 15, despite the Supreme Court recently restricting them in domestic Chapter 11 cases? According to a Delaware bankruptcy court: "Yes." This case is now on appeal to the Third Circuit.

Alkegen’s Prepackaged Chapter 11: When the Liability Management Bridge Runs Out

What happens when a company's temporary debt relief expires and forces a rapid, pre-negotiated $3.1 billion bankruptcy? Alkegen's prior liability management transaction merely delayed the inevitable while contractually locking in senior lenders' absolute control over the current restructuring process before it even began.