News & Publications

The number of complex cross-border restructurings continues to rise as the various economies of the world become more integrated. A growing contingent of countries has enacted sophisticated restructuring regimes or refined existing statutory structures offering distressed companies and their lenders foreign restructuring alternatives other than, or in addition to, U.S. chapter 11 to effectuate a worldwide balance sheet restructuring. This trend has resulted in an uptick in filings under chapter 15 of the U.S. Bankruptcy [...]

The U.S. Supreme Court's recently concluded 2023-2024 term included three decisions interpreting various aspects of the U.S. Bankruptcy Code, including the much-anticipated decision in Harrington v. Purdue Pharma, L.P., which is likely to shape the scope of Chapter 11 plans of reorganization significantly. A summary of each of these decisions, and their likely effect going forward, is below. Harrington v. Purdue Pharma, L.P. In its most significant bankruptcy decision of the term, the Supreme Court held [...]

Bankruptcy filings were up 17% in the first half of 2023 of 2022 numbers and the surge continues. Chapter 11 commercial filings totaled 2,973 during the first half of 2023, which was a 68% increase compared to the first half of 2022. Small business filings, which are identified as Subchapter V elections of Chapter 11, totaled 814 in the first six months of 2023, demonstrating a 55% increase compared to the first half of "2022. Chapter [...]