Business Restructuring Review
In this issue:
- Second and Seventh Circuits Issue Decisions on Third-Party Releases
Rulings recently handed down by two federal courts of appeals indicate that the Circuit split on the propriety of third-party releases as part of a chapter 11 plan continues unabated.
- Supreme Court Approves Changes to Bankruptcy Rules
- Rediscovering Chapter 9 as Financial Woes of Municipalities Escalate
As an increasing number of municipalities are propelled to the brink of insolvency and beyond by soured investments and the inability to raise capital, there may be a significant uptick in the volume of chapter 9 filings.
- When Brokers Go Broke: Subprime Meltdown May Mean More Stockbroker Bankruptcies
A short primer on stockbroker liquidation proceedings in anticipation of the escalating problems confronted by stockbrokers as the inevitable onslaught of litigation and federal investigations ensue regarding the subprime investment scandal.
- Focus Abroad: Latest Developments in Italian Bankruptcy Law
New legislation effective January 1, 2008, introduced more flexible pre-insolvency procedures, including the possibility for arrangements between debtors and creditors similar in substance to “pre-packaged” reorganizations under U.S. bankruptcy law.