United States: Financial Restructuring

The U.S. government has withdrawn a set of controversial proposed regulations issued near the end of the prior administration, which would have imposed significant new substantive and procedural requirements...

Pryor Cashman's use of its expertise in these varied disciplines culminated in Cirrus gaining control of the remaining high-profile development sites of the Pacific Park project encompassing more than two City blocks adjacent to the Barclays Center in Brooklyn, New York, and stabilizing distressed assets in Los Angeles.

Breaking New Ground: Second Circuit Rules that Bankruptcy Code's Securities Transactions Safe Harbor Bars Foreign Common-Law Claims in Chapter 15 Case ...

Pryor Cashman Partner Seth Lieberman, Chair of the firm's Bankruptcy, Reorganization + Creditors' Rights Group and Co-Chair of the Corporate Trust Practice...

As financial pressures mount across industries—from real estate to retail to private equity—lenders, investors, and other stakeholders are increasingly turning to receiverships...

In the latest Turnaround Management Association (TMA) Chicago/Midwest podcast episode, host and Insolvency and Restructuring Partner Paul Musser sat down with Senior Managing Director at Development Specialists, Inc...

Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a decision earlier this year that had the effect of recognizing under Chapter 15 of the U.S. Bankruptcy Code...

Directors and officers of companies in financial distress face complex responsibilities and challenges. Indeed, managing a company on the brink of insolvency is often uncharted territory for its leadership. When confronted with such challenges, adherence to fiduciary duties is crucial to ensure responsible governance and minimize the risk of litigation or personal liability.

The Supreme Court ruled in Harrington v. Purdue Pharma L.P. that the U.S. Bankruptcy Code does not permit a Chapter 11 plan to grant a release that discharges creditors' claims against third parties without the consent of affected claimants, that is, a nonconsensual third-party release.