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On February 20, 2024, the United States Court of Appeals for the Fifth Circuit issued an Opinion, which held that challenges to “integral” aspects of a bankruptcy sale are statutorily moot under Bankruptcy Code § 363(m).¹ 

Vinson & Elkins attorneys discussed commercial real estate loan workouts and amendments: the path most often taken by commercial real estate lenders in 2023 when a borrower is facing a default.

On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”)¹ affirming the confirmation order of Laurie S. Silverstein, of the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) that confirmed the chapter 11 plan (the “Plan”) of the Boy Scouts of America (“BSA”) (collectively, the “Confirmation Order”).²

Vinson & Elkins attorneys discuss recent creative deleveraging and restructuring transactions, including non-pro rata uptier exchanges, priming transactions, and financing assets transferred to unrestricted...

Silicon Valley Bank (“SVB”), a key lender serving customers and borrowers primarily in the technology industry, was taken over by U.S. regulators on Friday, March 10, 2023. Included herein are considerations that may be top of mind for persons with connections to SVB.

In Sanofi-Aventis U.S. LLC v. Mallinckrodt PLC, the United States District Court for the District of Delaware ruled that a debtor that purchased intellectual property under a prepetition asset purchase agreement could continue to retain and use the property post-confirmation while discharging its obligations to pay any future royalties otherwise owed.

On September 8, 2022, a three-judge panel in the United States Court of Appeals for the Second Circuit (the “Second Circuit”) reversed the United States District Court for the Southern District of New York (the “District Court”) when it determined that lenders of a syndicated loan facility to Revlon, Inc.BY

Third-party release provisions are a common feature of almost every chapter 11 plan in large bankruptcy cases. Despite this, there has long been a split among bankruptcy courts and Circuit Courts of Appeal on the scope and permissibility of such third-party release provisions.

This case arises out of a dispute between J.C. Penney Properties, Inc., as predecessor in interest to J.C. Penney Corporation, Inc. (“JCP Properties”), and Klairmont Korners, LLC (“Klairmont”) regarding a ground lease and related sublease for commercial real estate (respectively, the “Lease” and the “Sublease”).

Debtor-in-possession financing is utilized when available and necessary in chapter 11 cases, and has come to play an integral role in the restructuring process. In this article, the authors begin by discussing DIP lenders, financing structure, and issues on exit financing.