Insights on Financial Restructuring & Bankruptcy

Around this abundance of litigation developed a significant body of jurisprudence, to which Judge Sean Lane of the Southern District of New York Bankruptcy Court recently added in clarifying the ordinary course of business preference defense.

In recent years, second lien financings have increased in popularity. Senior creditors rely on intercreditor agreements to protect their interests by limiting the rights that junior lien holders would otherwise enjoy as secured creditors through either lien subordination, payment subordination.

This case presents a common scenario and dynamic that a party involved with a distressed bank holding company may have seen in the last several years.

Bankruptcy & Financial Restructuring partner Aram Ordubegian and associate M. Douglas Flahaut represented the full service turn-key fulfillment house.

On April 13, 2014, MPM Silicones, LLC and certain debtor affiliates (the Debtors) filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code. The Debtors filed their plan of reorganization (the Plan) about a month later.

Washington, DC

The Third Circuit agreed with the Bankruptcy Courts finding that the proposed releases were not adequately disclosed to the bondholders as required by Bankruptcy Rule 3016(c), and therefore would not be approved.

The crux of the issue the District Court considered was the interplay between sections 363(f) and 365(h) of the Bankruptcy Code.

Legal 500 US has rated 40 Arent Fox LLP attorneys as national leaders in their field.

Chambers USA recognized 31 Arent Fox LLP attorneys as leaders in their field.

Often times indenture trustees seek to sit on creditors committees in furtherance of their fiduciary duties to holders. Obviously, the professional fees and expenses can be paid as a first priority pursuant to a charging lien as provided for under the indenture documents.

Thirty-three Arent Fox attorneys have been ranked at the top of their profession by The Best Lawyers in America.

Arent Fox partner Andrew I. Silfen, head of the firm’s Bankruptcy & Financial Restructuring practice, was honored by the New York Institute of Credit.

Legal 500 US has rated 38 Arent Fox LLP attorneys among the best in the country.

Chambers USA recognized 31 Arent Fox LLP attorneys as leaders in their field.

Partner Aram Ordubegian was interviewed by Law360 Bankruptcy in a Q&A that was published in the May 21 newsletter.

Bankruptcy partner Aram Ordubegian was quoted in the Crescenta Valley Weekly on the economic impact the Americans with Disabilities Act (ADA) and other federal and state regulations will have on small businesses in the region.

Bankruptcy Counsel Douglas Flahaut will present at ABI’s 2019 Bankruptcy Battleground West Conference.

Arent Fox Partner Mary Joanne Dowd will speak at the Associated General Contractors of America’s 2019 Conference on Surety Bonding and Construction Risk Management.

Arent Fox Bankruptcy partner Mary Jo Dowd will speak at an American Bankruptcy Institute webinar titled, “Let’s Make a Deal: Negotiating the Asset Purchase Agreement in Bankruptcy.”