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Insight

On February 20, 2024, the United States Court of Appeals for the Fifth Circuit issued an Opinion, which held that challenges to “integral” aspects of a bankruptcy sale are statutorily moot under Bankruptcy Code § 363(m).

A version of this insight was published by Law360

March 11, 2024
Insight
Insight

On May 30, 2023, the United States Court of Appeals for the Second Circuit (the “Second Circuit” or the “Court”) rendered a much anticipated opinion (the “Opinion”),1 reversing the order of the United States District Court for the Southern District of New York (the “District Court”) that the Bankruptcy Code does not permit non-consensual third-party releases of direct claims and affirming the order of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) confirming the chapter 11 plan (the “Purdue Plan”) of Purdue Pharma L.P. (“Purdue”), which approved non-consensual third-party releases of the owners of Purdue — members of the Sackler family.

V&E Restructuring & Reorganization Update

June 6, 2023
Insight
Insight

On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”)1 affirming the confirmation order of Laurie S. Silverstein, of the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) that confirmed the chapter 11 plan (the “Plan”) of the Boy Scouts of America (“BSA”) (collectively, the “Confirmation Order”).2

V&E Restructuring & Reorganization Update

May 2, 2023
Event Recap
Event Recap
Vinson & Elkins attorneys discuss recent creative deleveraging and restructuring transactions, including non-pro rata uptier exchanges, priming transactions, and financing assets transferred to unrestricted...
April 27, 2023
Video
Insight
Insight

In a provocative demonstration that it scrutinizes all types of transactions, no matter their origin, the Committee on Foreign Investment in the United States (“CFIUS”) has reportedly been vetting the proposed $1 billion sale of bankrupt crypto lender Voyager Digital’s assets to Binance.

Published by Foreign Investment Watch on February 2, 2023

January 30, 2023
Insight
Insight

In Sanofi-Aventis U.S. LLC v. Mallinckrodt PLC, the United States District Court for the District of Delaware ruled that a debtor that purchased intellectual property under a prepetition asset purchase agreement could continue to retain and use the property post-confirmation while discharging its obligations to pay any future royalties otherwise owed.

V&E Restructuring & Reorganization Update

January 23, 2023
Insight
Insight

On September 8, 2022, a three-judge panel in the United States Court of Appeals for the Second Circuit (the “Second Circuit”) reversed the United States District Court for the Southern District of New York (the “District Court”) when it determined that lenders of a syndicated loan facility to Revlon, Inc.BY

December 21, 2022
Insight
Insight

Third-party release provisions are a common feature of almost every chapter 11 plan in large bankruptcy cases. Despite this, there has long been a split among bankruptcy courts and Circuit Courts of Appeal on the scope and permissibility of such third-party release provisions.

November 18, 2022
Insight
Insight

This case arises out of a dispute between J.C. Penney Properties, Inc., as predecessor in interest to J.C. Penney Corporation, Inc. (“JCP Properties”), and Klairmont Korners, LLC (“Klairmont”) regarding a ground lease and related sublease for commercial real estate (respectively, the “Lease” and the “Sublease”).

November 16, 2022
Insight
Insight

The Supreme Court of the United States granted certiorari on June 27, 2022, to determine whether section 363(m) of the Bankruptcy Code—concerning appellate review of bankruptcy court sale orders—is jurisdictional or only limits the remedy an appellate court may fashion.

V&E Restructuring & Reorganization Update

July 19, 2022
Insight
Insight

Debtor-in-possession financing is utilized when available and necessary in chapter 11 cases, and has come to play an integral role in the restructuring process. In this article, the authors begin by discussing DIP lenders, financing structure, and issues on exit financing.

Published by Review of Banking & Financial Services, March 2022

April 19, 2022
Insight
Insight

Judge Colleen McMahon recently opined in Purdue that “the lower courts desperately need a clear answer” as to the validity of third-party releases.

V&E Restructuring & Reorganization Update

January 25, 2022