Articles by author
DIP financing in US Chapter 11 cases: how sponsors are utilising equity conversions to obtain recoveries in reorganised debtors
This article examines sponsor-provided debtor-in-possession financing that converts into equity in the reorganised debtor upon emergence from bankruptcy, including the consequences of, and recent challenges to such sponsor-led convertible financing.
28 JUN 2024COMIng apart? Centre of Main Interests under Chapter 15 and the EUIR
In this article the authors consider two recent decisions that illustrate how a US bankruptcy court and the English Court of Appeal (applying the EUIR to a pre-Brexit case) can analyse COMI in different ways. The decisions have implications for groups that need to restructure cross-border financing arrangements – particularly where financing has been raised by a “letterbox” company (SPV). Such companies may face greater challenges establishing that their COMI is in their jurisdiction of incorporation before a US bankruptcy court than they would in Europe.
1 MAR 2023
