In the News

Judith Elkin in Crain's Detroit Business: GM Ignition Recall May Haunt Delphi

A faulty part in as many as 1.6 million vehicles could ignite legal and financial calamity for Delphi Automotive plc if it is held responsible for the actions of its bankrupt predecessor. >>

Judith Elkin in the Wall Street Journal: IWIRC Celebrates Members on 20th Anniversary

Sheryl Sandberg, take note: A group of restructuring professionals have already been leaning in—and leaning on each other—for two decades. >>

Judith Elkin in the DowJones Daily Bankrupty Review: IWIRC Celebrates Two Decades of Women in Restructuring

At a time when female corporate leaders are exhorting their peers to lean in, women in the restructuring profession are leaning on each other. >>



Recent Publications

Lifting the Veil and Finding the Pot of Gold: Piercing the Corporate Veil and Substantive Consolidation in the United States

By the time a company becomes insolvent or files insolvency proceedings, creditors are often frustrated by the lack of asset value remaining in the entity with which they did business. In certain circumstances, legal theories exist that enable creditors to look behind the contracting parties in order to impose personal liability on directors or pursue assets in related entities. This article addresses some of these theories in the United States. >>



Judith Elkin

Partner

New York


30 Rockefeller Plaza
26th Floor
New York, 10112
T +1 212.659.4968
F +1 212.884.8228

Áreas de Practica

Educación

  • J.D., University of Wisconsin, 1981, cum laude
  • B.A., Binghamton University, State University of New York, 1978, summa cum laude

Bar Admissions

  • New York
  • Texas

Court Admissions

  • New York Court of Appeals
  • Texas Supreme Court
  • U.S. Supreme Court
  • U.S. Court of Appeals for the Second Circuit
  • U.S. Court of Appeals for the Fifth Circuit
  • U.S. Court of Appeals for the Sixth Circuit
  • U.S. Court of Appeals for the Tenth Circuit
  • U.S. Court of Appeals for the Eleventh Circuit
  • U.S. District Court for the Northern District of Texas
  • U.S. District Court for the Southern District of Texas
  • U.S. District Court for the Eastern District of Texas
  • U.S. District Court for the Western District of Texas
  • U.S. District Court for the Southern District of New York
Judith Elkin

Judith Elkin is a partner in the Bankruptcy and Business Restructuring section and served as chair of the section for five years. Ms. Elkin has more than 30 years of experience representing debtors, creditors, creditors' committees, lenders, trustees, acquirors and other parties in interest in reorganization proceedings and financial restructurings. She is also a bankruptcy litigator with particular experience in bankruptcy appeals. She speaks frequently on insolvency issues both in the U.S. and internationally, most recently in Buenos Aires and Dubai at meetings of the International Bar Association Section on Insolvency, Restructuring and Creditors' Rights and in the Cayman Islands and Lake Tahoe at programs sponsored by the American Bankruptcy Institute. She recently moderated a panel discussion on the future of real estate distressed deals at the 2nd Global Distressed Debt Investing Summit in New York, and is a regular faculty member of the Practicing Law Institute on programs relating to domestic and cross-border insolvencies.

Ms. Elkin is currently working on or has completed transactions including:

  • Representation of Credit Agricole Corporate and Investment Bank, pre-petition and DIP lender in Chapter 11 case of Trinity Coal.
  • Representation of Archon/Goldman Sachs in multi-billion dollar litigation brought by the post-confirmation trust of Extended Stay Hotels.
  • Representation of RIM in Kodak restructuring case.
  • Representation of various landlords in the Borders' bankruptcy case.
  • Representation of major secured lender in out of court restructuring of a multi-billion dollar time share developer.
  • Representation of Credit Agricole Corporate and Investment Bank as a multi-million dollar senior secured lender, DIP lender and exit lender to various SemGroup entities. SemGroup is a multi-billion dollar global gatherer, distributor, storer, transporter and marketer of crude oil and refined petroleum products.
  • Representation of Bank of America as agent for the $2.6 billion Century Credit Facility in Adelphia Communications Corp. Chapter 11 case.
  • Representation of Credit Agricole Corporate and Investment Bank as a project lender on an electricity generation facility in Missouri, in the Calpine Corp. Chapter 11 case.
  • Representation of Credit Agricole Corporate and Investment Bank as lender and co-chair of the Unsecured Creditors' Committee in Enron Corp. Chapter 11 case.
  • Representation of Mirant Corporation, one of the world's largest generators and marketers of electricity, in its Chapter 11 restructuring.
  • Representation of asset acquirors in numerous bankruptcy cases involving asbestos liability issues, including in the cases of National Gypsum Company and Federal-Mogul Corporation.
  • Negotiation of settlement in excess of $50 million of coverage litigation on behalf of Travelers in conjunction with reorganization of United States Brass, manufacturer of polybutylene pipe.
  • Obtained dismissal of $30 million lawsuit against major accounting firm and successfully defended judgment through denial of petition for writ of certiorari to U.S. Supreme Court.
  • Representation of Highland Capital, a major shareholder and potential acquiror, in Delphi reorganization case.

Representative Case Involvement

  • Adelphia Communications Corp.
  • ASARCO
  • ATA Airlines, Inc.
  • Borders, Inc.
  • Calpine Corporation
  • Delphi Corp.
  • El Paso Electric Company
  • Enron Corporation
  • Extended Stay Hotels
  • Federal-Mogul Corporation
  • General Motors Corp.
  • Kodak
  • Mirant Corporation
  • SemGroup L.P.
  • United States Brass Corporation

Professional Recognition

  • Recipient of the Melnik Award for exceptional contributions, International Women's Insolvency and Restructuring Confederation (IWIRC), 2013
  • Recognized in Best Lawyers in America - Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 2005-2014, Litigation - Bankruptcy, 2012-2014
  • Recognized as a Super Lawyer - Bankruptcy and Creditor/Debtor Rights Law (2007-2013)
  • Martindale Hubbell® Law Directory with a Peer Review Rating of AV® Preeminent™

Professional Leadership

  • Co-Chair, International Bar Association's Section on Insolvency Restructuring and Creditors' Rights (SIRC), 2011-2012
  • Chair, International Women's Insolvency and Restructuring Confederation (IWIRC), 2010-2012, Vice Chair, 2006-2010, Secretary/Treasurer, 2002-2006, Executive Committee Member, Member, New York Network and Founding Member, Dallas Network
  • Vice-Chair, International Bar Association's Insolvency, Restructuring and Creditors' Rights Section (SIRC), 2009-2010, Co-Chair of SIRC Creditors' Rights Committee, 2007-2008
  • Co-Chair, American Bar Association, Bankruptcy and Insolvency Litigation Committee, Litigation Section, 1997-2001
  • Board of Directors and Executive Committee Member, Dallas Zoological Society, 2000-2004
  • Board of Directors, New Rochelle Humane Society
  • Patron, Wildlife Conservation Society

Selected Publications and Speeches

  • "Catching the Golden Goose - Overcoming Corporate and Jurisdictional Barriers to Recover Assets", IBA Annual Meeting, Dublin, Ireland, September 30 – October 5, 2012.
  • "Lifting the Veil and Finding the Pot of Gold: Piercing the Corporate Veil and Substantive Consolidation in the United States," Dispute Resolution International, Vol. 6 No. 2, International Bar Association, October 2012.
  • United States Chapter, Cash Pooling and Insolvency: A Practical Global Handbook, co-author with Stephenson, Lyda, and Muhammad, Globe Business Publishing, Ltd., 2012.
  • "The Vice of Vice Versa: Cross Border Recognition Procedures," panelist, Haynes and Boone Seminar: Going South: Issues in Cross-Border Insolvency and Restructuring between the U.S. and Mexico, July 25, 2012.
  • "A Time Out for Municipalities: The Recent Workings of Chapter 9 of the Bankruptcy Code," Inside the Minds: Chapter 9 Bankruptcy Strategies, Thompson Reuters/Aspatore Books, 2011.
  • "Recent Trends in Restructuring and Distressed M&A in Latin America," Conference Co-Chair, International Bar Association, September 4-5, 2011.
  • "Cross Border Insolvency, Recognition of Foreign Proceedings, Cross-Border Cooperation and Coordination of Parallel Proceedings, the US Experience and the UNCITRAL Model Law in Latin America," September 4-5, 2011.
  • "International Women's Insolvency and Restructuring Leadership Summit for Board of Directors and Network Chairs," IWIRC, July 14-15, 2011.
  • "Insolvency of Multinational Corporate Groups," International Insolvency Institute 11th Annual Conference, New York, June 12-14, 2011.
  • "17th Global Insolvency and Restructuring Conference: Only the Strong Will Survive: Financing and Valuing Distressed Entities," Conference Co-Chair, International Bar Association - Section on Insolvency, Restructuring and Creditors Rights, May 24-25, 2011.
  • "Ethical Dilemmas in Turnarounds and Restructuring," Haynes and Boone Seminar, May 5, 2011.
  • "Sauce for the Goose? Dual Standard Emerging in Cross Border Insolvencies: Domicile Not Enough to Recognize Foreign Proceeding," PLI Program on "Bankruptcy & Reorganizations: Current Developments 2011, April 14-15, 2011.
  • "Women in the Profession: A Practical Guide to Life/Work Balance," IWIRC Spring Meeting/ABI Annual Meeting, Washington, D.C., March 30-April 2, 2011.
  • "The View from the Bench: Hot Topics in Restructuring in the Caribbean Region," ABI Caribbean Insolvency Conference, Grand Cayman, February 3-5, 2011.
  • "Real Estate Distressed Deals: The Coming Wave," iGlobal, New York, June 16, 2010.
  • "Recent Cases and Strategies that Impact Distressed Business Sales: Is it Worth the Headache?" Chapter, Buying and Selling Distressed Businesses, 2010 ed. Aspatore Books (a Thomson Reuters Business).
  • "And the Walls Came Tumbling Down: Issues in U.S Construction Insolvencies," IBA Annual Meeting, Madrid, Spain, October 4-10, 2009.
  • "The Lender's View" ABI 6th Annual Complex Financial Restructuring Program," American Bankruptcy Institute, Lake Tahoe, September 11, 2009.
  • "Fiduciary Duties in Troubled Times: Duties of Officers and Directors in the Zone of Insolvency" American Bar Association Section of Business Law, Annual Meeting of the ABA, Chicago, August 1, 2009.
  • "Roundtable: Bankruptcy Litigation," Financier Worldwide, June 2009.
  • "SIRC 15th Annual Global Insolvency & Restructuring Conference: Crash of the Titans," Conference Co-Chair, International Bar Association Section on Insolvency Restructuring and Creditors Rights, May 17-19, 2009.
  • "From Boom to Bust: Bringing Clients Through the Liquidity Freeze," Latin Lawyer Magazine, January 19, 2009.
  • "The Intersection Between the Credit Markets and Insolvency," International Bar Association Annual Meeting, Buenos Aires October12-17, 2008.
  • "The Unsecured Creditors' Perspective" ABI 5th Annual Complex Financial Restructuring Program." American Bankruptcy Institute, Las Vegas, September 4, 2008.
  • "The Impact of Insolvency and Restructuring Proceedings on Security Interests in Intellectual Property," SIRC 14th Annual Global Insolvency & Restructuring Conference: When Cash is King, International Bar Association Section on Insolvency Restructuring and Creditors Rights, Stockholm May 18-20, 2008.
  • "DebtWire Distressed Debt Forum 2008," DebtWire, New York, April 3, 2008.
  • "Leadership in the Distressed Market," Argyle Forum, New York, February 7, 2008.
  • "Insolvency and Shariah Finance," 7th Annual International Conference: International Insolvency Institute, New York June 12, 2007.
  • "Let's Do Lunch: The Changing Dynamics of Bank Groups in Insolvency Proceedings and Workouts," SIRC 13th Annual Global Insolvency & Restructuring Conference: When Finance Meets Crisis: International Bar Association Section on Insolvency Restructuring and Creditors Rights, Zurich, May 13-15, 2007.
  • "Irrational LBO's - Challenges within Private Equity and the Implications for the Restructuring Market," DebtWire Distressed Debt Forum 2007, New York, April 26, 2007.
  • "Chapter 15 of the U.S. Bankruptcy Code: New Procedures for Cross-Border Insolvencies," ABI International Insolvency Symposium, American Bankruptcy Institute, London September 23, 2005.
  • "Analyses of Major Bankruptcy Frauds: The Adelphia Story" SIRC 11th Annual Global Insolvency & Restructuring Conference, International Bar Association Section on Insolvency Restructuring and Creditors Rights, Salzburg, May 2005.
  • "Resolved Market Rates of Interest are Irrelevant," ABI Annual Meeting: 9th Annual Great Debates, American Bankruptcy Institute, Washington, D.C., April 29, 2005.
  • "The Sonic Boom - How to Advise and Protect Your Clients in Bankruptcies Heard Round the World: Jurisdictional Issues Arising in International Insolvency Proceedings," ABA Section of International Law Spring Meeting, American Bar Association, Washington, D.C., April 13-16, 2005.
  • "Cramdown Interest: Formulas for Determining Risk, Rate and Return," Elkin, Judith; Smith, Francis; Binford, Jason, Journal of Bankruptcy Law and Practice, Vol. 14, No. 4., 2005.

Selected Representative Experience


Extended Stay Hotels, Inc. LBO/FC Litigation
Represented Archon Group, L.P. as a defendant in one of five related lawsuits filed in the U. S. Bankruptcy Court for the Southern District of New York by the litigation trust created after confirmation of the Chapter 11 plan of reorganization of Extended Stay Hotels, Inc. and its related entities. The lawsuits sought to challenge, as both intentional and constructive fraudulent transfers, the leveraged buyout (LBO) transaction through which David Lichtenstein and his many related entities acquired from The Blackstone Group, L.P. and its many related entities ownership of the Extended Stay Hotels chain.

Mexicana Airlines - Chapter 15
Representation of American Airlines' interests related to the Concurso proceedings of the Mexican passenger airlines Mexicana, including proper treatment of claims arising under a codesharing agreement and an interline agreement.

Adelphia
Represented Bank of America, as agent for $2.5 billion credit facility owed by various Adelphia entities, in Adelphia’s Chapter 11 bankruptcy case. Successfully obtained payment in cash in full for clients when cable operations were sold to Time Warner and Comcast. Continue to represent Bank in related litigation.

Delphi Corporation
Representation of a hedge fund that was both a major creditor and equity holder of Delphi. The fund sought to serve as a lead plan proponent with the Debtors. The fund's proposal was determined not to be the highest and best proposal. Delphi ultimately confirmed another plan of reorganization with the assistance of the U.S. government and General Motors in conjunction with the GM Chapter 11 case. Creditors received significantly less than they would have received under the original plan proposal.

Federal-Mogul Corporation
The Flexitallic Group purchased assets from a corporate predecessor of Federal-Mogul. Some of those assets had been used in the manufacture of asbestos containing products prior to their purchase by Flexitallic. Federal Mogul was in bankruptcy because it was being sued for billions of dollars of asbestos liability. Flexitallic was named in some of those lawsuits even though it had never manufactured a product using asbestos in the US. The Bankruptcy Code section 524(g) provides for third parties to obtain permanent injunctions from asbestos liability that it derivative of that of the debtor in certain circumstances. After over seven years of work, Flexitallic was able to obtain this permanent injunctive relief.

Creditor's Committee Representation - El Paso Electric Company
Represented the Official Creditors’ Committee in the Chapter 11 case of El Paso Electric Company, the second investor owned public utility to file bankruptcy since the 1930’s. The case involved complex issues regarding the financing of El Paso’s investments in a nuclear power plant and the impact of recently enacted federal deregulation of the power industry. The case was concluded through the successful issuance of new public securities to refinance the pre-bankruptcy debt that totaled over $2 billion.

Calpine - Energy
Represented Calyon (now known as Credit Agricole Corporate and Investment Bank) as a project finance lender for the construction of a power plant. Successfully forced sale of power plant which resulted in payment in full in less than a year.

Creditor Committee Representation - Enron
Represented Calyon S.A. (now known as Credit Agricole Corporate and Investment Bank), the co-chair of the Official Committee of Unsecured Creditors in Enron's epic Chapter 11 bankruptcy case.

Debtor Representation - Merchants Fast Motor Lines, Inc.
We represented this debtor-in-possession and its subsequent trustee in the orderly wind-down of this major national trucking company. Merchants was formerly the second largest less than truckload trucking company in Texas with operations in 48 states. The restructuring involved numerous environmentally contaminated truck terminals, union termination issues, and hundreds of personal injury claims. Later we represented the liquidating trustee in winding up the affairs of Merchants and the sale of its remaining assets.

General Wireless, Inc.
Represented $50 million unsecured creditor Hyundai Electronics America (HYNIX) in the Chapter 11 case of a wireless telecommunications company that acquired its licenses from the FCC in the highly controversial C-block auctions.

Acquisition - Sfuzzi Assets
Represented the founder and principal shareholder of Sfuzzi, Inc. in his successful bid to re-acquire control of the Sfuzzi restaurant chain out of its bankruptcy pending in the United States Bankruptcy Court for the Northern District of Texas.

United States Brass
Represented Travelers Insurance in negotiating plan treatment of $50 million in disputed insurance coverage as part of the restructuring of this polybutene pipe manufacturing suffering from millions of dollars of product liability claims.

First Japanese Bank Real Estate Restructuring
Represented a syndicate of Japanese banks in connection with their first ever restructuring of a real estate credit facility in the United States, the $300,000,000 corporate headquarters of 7-Eleven, Inc.

East Texas Steel Company
Represented the Creditors’ Committee in the Chapter 11 case of this steel company in which our attorneys secured bankruptcy court approval to run an auction of the company’s assets. The success of the Committee in putting the company on the market led to the company’s parent infusing sufficient cash into the company to permit a near full recovery to unsecured creditors.

America West Airlines
Represented GE Public Finance as lender to America West Airlines for the construction of the baggage handling system at the new Denver Airport. Successfully obtained payment in full for client before confirmation of plan because of threat of not allowing completion of project.

AmeriTruck
Represented Volvo Finance as a major secured creditor and lessor in the bankruptcy case of this nationwide trucking company filed in Dallas, Texas.

Fedders North America, Inc.
Represented Highland Capital Management, L.P. as secured lender in confirmed Chapter 11 case. Highland was a co-proponent of the plan of liquidation. Highland and the other lenders are also defendants in a lawsuit brought by the successor to the unsecured creditors' committee alleging multiple causes of action. In May 2009, the court issued a ruling, dismissing all claims against the lender defendants, including Highland, other than the aiding and abetting breach of fiduciary duty claim. We are currently defending Highland with regard to the remaining claim.

Debtor Representation - Mirant Corporation
Represented Mirant Corporation and certain of its direct and indirect subsidiaries in their Chapter 11 cases in Fort Worth. Mirant was an international company whose core business is the production and sale of electricity and electrical capacity. The Mirant Corporation bankruptcy is the largest bankruptcy case ever filed in Texas.

Michael Petroleum
Representation of this petroleum company in their Chapter 11 proceedings involving a pre-arranged plan and a 363 sale.

Restructuring of Resort Company Facilities
Represented lender in one of several facilities with a resort company and several subsidiaries in the process of negotiating an out-of-court restructuring of in excess of $1 billion in debt facilities collateralized by various groups of properties.

SemGroup
Represent Calyon (now known as Credit Agricole Corporate and Investment Bank) as a secured lender and potential DIP lender to various SemGroup entities. SemGroup is a multi-billion dollar global distributor and transporter of oil and gas and asphalt. SemGroup and several of its subsidiaries are in Chapter 11. Calyon is also a secured lender to other SemGroup entities that are not currently in bankruptcy.

$2.48 Billion Multi-Facility Finance - Cable Company
Represented the administrative agent in connection with the workout and eventual bankruptcy of a cable television company, resulting in a 100 percent collection of all indebtedness (subject to continuing litigation).

Memberships

  • Turnaround Management Association (TMA)
  • International Insolvency Institute (III)
  • American Bar Association: Litigation Section, Section of Business Law (Business Bankruptcy Committee)
  • International Bar Association: Insolvency Section
  • American Bankruptcy Institute
  • International Women's Insolvency & Restructuring Confederation (IWIRC)
  • Bar Association of the City of New York
  • Association for Corporate Growth
  • Wildlife Conservation Society
  • 100 Women in Hedge Funds

Online Publications

11/28/2012 - Weathering the Storm: Vitro’s Concurso Plan Is Theoretically Enforceable in the United States . . . But Not This Time . . . Under These Circumstances
On November 28, 2012, the United States Court of Appeals for the Fifth Circuit published an opinion affirming the bankruptcy court’s ruling that the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B. de C.V., approved by the Federal District Court in Mexico, should not be enforced under Chapter 15 of United States Bankruptcy Code The United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) concluded that...

11/08/2012 - Lifting the Veil and Finding the Pot of Gold: Piercing the Corporate Veil and Substantive Consolidation in the United States
By the time a company becomes insolvent or files insolvency proceedings, creditors are often frustrated by the lack of asset value remaining in the entity with which they did business. In certain circumstances, legal theories exist that enable creditors to look behind the contracting parties in order to impose personal liability on directors or pursue assets in related entities. This article addresses some of these theories in the United States.

07/25/2012 - Sauce for the Goose? Dual Standard Emerging in Cross Border Insolvencies: Domicile not Enough to Recognize Foreign Proceeding
Recent cases interpreting Chapter 15 of the United States Bankruptcy Code (11 U.S.C. § 101, et seq., as amended) (the “Bankruptcy Code”) suggest that there are different standards for recognizing whether domestic entities and foreign entities have filed insolvency proceedings in the proper venue.

07/25/2012 - Chapter 15 of the U.S. Bankruptcy Code: Overview of Procedures for Cross Border Insolvencies
The Bankruptcy Abuse, Prevention and Consumer Protection Act of 2005, which was signed into law in the United States on April 20, 2005 and became effective, for the most part, on October 17, 2005, creates a new chapter of the United States Bankruptcy Code (11 U.S.C. 101, et seq., as amended) (the “Bankruptcy Code”) – Chapter 15.

05/10/2011 - Increased Capital, Competition Bolsters DIP Financing Market
A flood of new capital and lenders are rolling into the market for debtor-in-possession financing this year as investors seek reliable and safe returns, despite an easing in the pace of Chapter 11 filings, according to bankruptcy attorneys and investment bankers.

12/11/2009 - Weathering the Storm: Charter Communications Decision Allows Reinstatement of Debt
Many companies secured their financing several years ago when the credit market featured advantageous pricing and loose loan covenants. Because these favorable terms would be impossible for borrowers to obtain in today’s lending environment, many viable companies with highly leveraged capital structures are looking for strategies to restructure debt. Charter Communications (“Charter”), the country’s fourth largest cable television company, took a gamble during, arguably, the most challenging period in the modern era of global corporate finance.  See how the company's bold moves paid off. 

10/04/2009 - And the Walls Came Tumbling Down: Issues in U.S. Construction Insolvencies
We are in the midst of arguably the worst economic crisis since the Great Depression. One of the biggest victims of this meltdown is the construction industry, both residential and commercial, which has been hit as hard, if not harder, than any industry in the United States.

08/01/2009 - Fiduciary Duties in Troubled Times
The recent economic tumult brings to the forefront the issue of fiduciary duties in the context of insolvency – an unfortunate circumstance faced by an increasing number of boards of directors and shareholders in these troubled times.

07/20/2009 - Weathering the Storm: Fiduciary Duties of Officers and Directors in Troubled Company Situations
Directors and officers managing corporations, especially when the corporation is insolvent or operating in insolvency situations, need to be cognizant of their fiduciary duties. This alert provides a brief overview of these fiduciary duties, including practical considerations in the exercise of these duties.

07/01/2009 - Weathering the Storm: The Appointment of an Examiner
With the economic crisis leading to the failure of many businesses, bankruptcy cases are on the rise. In many of the cases grabbing headlines, such as Lehman Brothers, Nellson Nutraceutical, New Century and SemCrude, courts have shown a willingness to appoint examiners to investigate, report on and make recommendations regarding possible issues of mismanagement, fraud or other improprieties relating to the affairs of the debtor or its former or current management.

04/30/2009 - Weathering the Storm: Recent Decision Creates Additional Cash Requirements to Reorganize
On April 8, 2009, the Second Circuit Court of Appeals issued a ruling that creates an additional hurdle for companies providing single-employer pension funds when seeking to reorganize through a bankruptcy. In general, the termination of a pension plan can give rise to a per-employee termination premium (a “Termination Premium”) owed by the company terminating the plan to the Pension Benefit Guaranty Corporation (“PBGC”), the quasi-governmental entity that insures pension plans.

03/05/2009 - Chapter 15 of the U.S. Bankruptcy Code: New Procedures for Cross Border Insolvencies
The Bankruptcy Abuse, Prevention and Consumer Protection Act of 2005, which was signed into law in the United States on April 20, 2005 and became effective, for the most part, on October 17, 2005, creates a new chapter of the United States Bankruptcy Code (11 U.S.C. 101, et seq., as amended) (the “Bankruptcy Code”) – Chapter 15.

08/30/2007 - Enron--Appellate Court Overturns Ruling on Equitable Subordination and Claims Disallowance
‘Taint Clear: “Purchased” Claims are Not Subject to Equitable Subordination or Disallowance Based Solely on Seller’s Conduct, but Purchaser’s Knowledge of the Seller’s Conduct May Be Fatal

05/13/2007 - Let's Do Lunch: The Changing Dynamics of Bank Groups in Insolvency Proceedings and Workouts
Suppose you wanted to borrow a billion dollars. Where would you go? Who would you see? Who has a billion dollars they would be willing to lend to you? Even if you knew someone with a billion dollars, would they lend it all to you and no one else?

04/12/2007 - Supreme Court Holding Allows Bankruptcy Proofs of Claim to be Amended to Recover Attorneys' Fees
On March 20, 2007, the United States Supreme Court issued a unanimous opinion in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., No. 05-1429, 2007 WL 816795 (March 20, 2007), holding that a creditor may supplement its unsecured claim in a bankruptcy case to recover contract-based attorneys’ fees incurred during the bankruptcy case through the litigation of bankruptcy law matters.