2022

This panel will cover developments in cross-border restructurings, including the increasing trend in chapter 11 filings by international companies and resulting jurisdictional issues, the rollout of the EU directive and its impact on the international restructuring landscape, and potential challenges to recognition of a U.K. Part 26(A) “Super Scheme" in the U.S. Additional developments in chapter 15 case law will also be discussed.

Despite the headwinds created by the global pandemic, economic activity has been in full swing. Economic growth during the pandemic generally surpassed expectations, with favorable lending conditions and consumers and businesses maintaining a surprising level of activity. The enormous legislative response to the pandemic was responsible for the strength of the economy, but labor shortages, supply disruption and inflation have become real concerns. The Russian invasion into Ukraine in February has only exacerbated these risks.

This panel will discuss Code impairment and post-petition interest, provide an update on gerrymandering (including a examination of Consolidated Land Holdings LLC), and review third-party releases and the different outcomes that have occurred in different circuits.

This panel will first discuss lessons learned from the extensive litigation over the past few years on “drop-down” and “up-tier” restructuring transactions in such cases as Murray Energy, Serta Simmons, TriMark, Boardriders, iHeart, La Paloma and White Box v. Trans Ocean. Next, we will examine some recent developments in fraudulent conveyance litigation, including challenges to transfers made in “Texas two-step” mergers (e.g., J&J); establishing fraudulent intent (Tribune); and recovering from subsequent transferees (e.g., Giant Gray; Madoff).

ABI's Business Reorganization and Commercial and Regulatory Law Committees