Worldwide: Insolvency/Bankruptcy

As cross-border insolvency and international arbitration continue to converge, creditors increasingly face a pivotal strategic question: where should an arbitration be seated, and in which jurisdiction should an award be enforced to maximize recovery?

The Bankruptcy Court had held that that Wesco breached its obligations under certain indentures through a series of transactions that had the effect of impermissibly priming non-participating noteholders and, as a result, shifted distributions under Wesco's plan of reorganization to enhance recoveries of participating noteholders at the expense of non-participating noteholders

As more companies slide into bankruptcy, trustees are increasingly tasked with selling unconventional and hard-to-value assets — from aging bourbon barrels and unused tax credits to fine art...