Skill is one thing, but sometimes a little luck doesn’t hurt either. Click here for the whole story on how Bracewell & Giuliani ended up sailing off with a role in the Omega Navigation Enterprises case.
Archive for the ‘Trends’ Category
Newcomer is the Biggest Draw at Bankruptcy Party
Sunday, November 6th, 2011Q&A With Bracewell & Giuliani’s Robb Tretter
Wednesday, November 2nd, 2011In this insightful Q&A found in Law 360, you’ll learn about today’s challenges in the current private equity market, what areas of industry are in need of reform, as well as a personal perspective into one partner’s career development. Click here to see what Bracewell & Giuliani’s Private Investment Fund partner Robb Tretter had to say.
Mo’ Money – New PBGC Rules May Free Up Cash for Lenders and Bondholders
Wednesday, June 15th, 2011Good news for lenders and bondholders out of the Pension Benefit Guaranty Corp. on Tuesday, June 14, 2011. The PBGC has issued final rules providing that it will not guarantee benefits that are earned in the window between when an employer files for bankruptcy and the PBGC takes over a pension plan. The new rules also provide that only benefits that are nonforfeitable (i.e. vested) as of the petition date will be guaranteed. This could free up more cash for lenders and bondholders on the plan effective date. (more…)
Canadian Court Cracks the Nut of a Priming DIP; Are Secured Claims Next?
Friday, April 15th, 2011In Canada, as in the US, corporate debtors are permitted with court approval to obtain DIP financing on a super-priority basis. The Order typically provides protections as hard as a nutshell, including that pension claims cannot crack the shell of protection and are subordinated to the new DIP loan. A recent Canadian decision, however, held that certain pension claims could crack the nut wide open and should be paid ahead of a DIP loan. Re Indalex Limited, 2011 ONCA 265 (Apr. 7, 2011). (more…)
Will Dodd-Frank Amount to a Hill of Beans After the Midterms?
Monday, November 1st, 2010Most polls, political pundits, and crystal balls are predicting a larger crowd on the Republican side of the aisle after the midterm elections, potentially giving them a majority in the House and tightening the margin in the Senate. The natural question that follows is what will happen to Dodd-Frank if the composition of Congress changes significantly? (more…)
Yo, That’s My Electricity!
Thursday, June 24th, 2010Who other than bankruptcy lawyers could successfully argue that a bunch of electrons streaming through a wire is a “sale of goods”? Seem ridiculous? Erving Industries certainly thought so, but Judge Boroff of the Bankruptcy Court in Massachusetts ruled otherwise. The result of this decision was that New Energy, which had sold electricity to Erving, was entitled to an administrative expense priority under Bankruptcy Code Section 503(b)(9). (more…)