Business Restructuring Review
In this issue:
- Landmark Reorganization of USG Corporation
With Jones Day’s assistance as reorganization counsel, USG Corporation and its 10 domestic subsidiaries successfully emerged from chapter 11 protection, having resolved more than $6 billion in liabilities and preserved shareholders’ equity interests.
- Unscrambling the Egg or Redividing the Pie? Revoking a Chapter 11 Plan Confirmation Order
The Delaware district court and a New York bankruptcy court exercised their broad discretion under section 1144 of the Bankruptcy Code in refusing to revoke orders confirming chapter 11 plans despite allegations of procurement fraud.
- When Is It Too Late for Substantive Consolidation?
The Fifth Circuit held that the bankruptcy court abused its discretion in nunc pro tunc substantively consolidating a debtor corporation with its nondebtor sole shareholder because the court had previously authorized a secured creditor to pursue its remedies against the shareholder in state court.
- Second Quarter Business Bankruptcy Filings Wane
- Focus Abroad: China
A brief discussion of the PRC Enterprise Bankruptcy Law enacted in China on August 26, 2006.
- Largest Public Company Bankruptcy Filings in 2006