US issues (including Chapter 11)

US issues (including Chapter 11) guidance:

Overview of avoidance actions The US Bankruptcy Code provides a debtor with rights to avoid certain transfers of property made by the debtor to third parties prior to the...

Practice Note

Chapter 7 purpose The purpose of chapter 7 of the US Bankruptcy Code is prompt liquidation of a debtor company’s assets. Unlike chapter 11, which is intended to provide a...

Practice Note

Chapter 11 reorganisation The reorganisation provisions of chapter 11 of the United States Bankruptcy Code, s 101–1532 (the US Bankruptcy Code or 11...

Practice Note

Overview of bankruptcy distribution priorities A chapter 11 debtor’s confirmed plan of reorganisation sets out the payments or distributions, if any, that will be made to...

Practice Note

Where a case may be commenced A chapter 11 case may be commenced in the district court for the district in which the domicile, residence, principal place...

Practice Note

This tax 'tracker' tool displays the current status of both US FATCA and UK FATCA intergovernmental agreements (IGA). The tracker is split into five parts: • US...

Practice Note

Why chapter 11? Chapter 11 provides a debtor with an opportunity to reorganise a business or capital structure while continuing normal business operations under the...

Practice Note

DIP financing generally Debtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The financing may be...

Practice Note

Produced in partnership with Julie Lanz of Skadden Arps Slate Meagher & Flom LLP Common chapter 11 phases As shown below, the timing and phases of chapter 11...

Precedents

Ipso facto clauses defined Contracts often contain provisions to the effect that the contracts will terminate upon the bankruptcy or insolvency of one of the contract...

Practice Note

What is a pre-pack? A pre-pack is a type of chapter 11 bankruptcy case where the debtor formulates, negotiates and solicits votes on a plan of reorganisation prior to...

Practice Note

Definition and purpose Substantive consolidation is an equitable remedy which may be exercised by a bankruptcy court to combine the assets and liabilities of affiliated...

Practice Note

The Hiring Incentives to Restore Employment Act (the HIRE Act) include provisions that give the US Internal Revenue Service (the IRS) administrative tools to: • detect,...

Practice Note

Where a case may be commenced A chapter 11 case may be commenced in the district court for the district in which the domicile, residence, principal place of business in...

Practice Note