Restructuring

Market-Leading Industry Insights

Our team regularly provides clients with updates on key industry developments and consistently contributes to the most well-respected restructuring publications.

» View a complete list of our recent restructuring client memos and publications

Alan Kornberg and Elizabeth McColm Author USA Chapter in ICLG’s Restructuring & Insolvency Laws & Regulations 2021-2022

Restructuring partners Alan Kornberg and Elizabeth McColm wrote the “USA” chapter in the International Comparative Legal Guide (ICLG) to Restructuring & Insolvency Laws & Regulations 2021-2022, published by the Global Legal Group Ltd., London.

Restructuring Department Bulletin - March 2022

In the latest issue of the Restructuring Department Bulletin, we highlight recent decisions impacting the restructuring arena, including the New Jersey Bankruptcy Court’s denial of Talc claimants’ motion to dismiss a Johnson & Johnson subsidiary’s chapter 11 case as not having been filed in good faith; and the Delaware Bankruptcy Court’s rejection of a chapter 7 trustee’s use of the IRS as a “golden creditor” to assert otherwise time-barred avoidance claims. We also share recent news on the Paul, Weiss Restructuring Department.

Alan Kornberg Featured in Global Restructuring Review Profile

Restructuring partner Alan Kornberg was featured in a profile, “Heads-Up: Alan Kornberg at Paul Weiss in New York,” published in Global Restructuring Review.

Elizabeth McColm and Brian Bolin Publish Chapter in Americas Restructuring Review 2022

Restructuring partners Elizabeth McColm and Brian Bolin, and associate Grace Hotz, co-authored a chapter in Americas Restructuring Review 2022, published by Global Restructuring Review.

Kelley Cornish Quoted in Bloomberg Law Article

Restructuring partner Kelley Cornish was quoted in a Bloomberg Law article, “Corporate Bankruptcy Wave Turns to Dust, Defying Expectations.”

Alan Kornberg and Claudia Tobler Publish U.S. Chapter in Lexology Getting the Deal Through – Restructuring & Insolvency

Restructuring partner Alan Kornberg and counsel Claudia Tobler co-wrote the “United States” chapter of the 2022 edition of Lexology Getting the Deal Through – Restructuring & Insolvency, published by Law Business Research Ltd.

Conflicting Rulings on Applicable Rate of Postpetition Interest Set the Stage for Hertz Post-Confirmation Interest Rate Litigation

A bankruptcy judge in Delaware recently confirmed the chapter 11 plan filed by The Hertz Corporation debtors. Just prior to confirmation, the debtors filed a revised plan that proposed to pay unimpaired unsecured creditors postpetition interest at the federal judgment rate, while reserving the right for the unsecured creditors.

Second Circuit Finds 2017 Fee Increase for Chapter 11 Debtors Unconstitutional, Awards Debtors a Refund

The Second Circuit recently held that a congressionally mandated 2017 increase to the quarterly fees paid by chapter 11 debtors violated the Constitution’s uniformity clause, because it applied only to debtors that filed for bankruptcy in U.S. Trustee Program jurisdictions, but not to those who filed in non-UST Program jurisdictions. The court awarded Clinton Nurseries, Inc. a refund.

New York Bankruptcy Court Approves Two Structured Dismissals Post-Jevic

In two recent rulings, the Bankruptcy Court for the Southern District of New York approved the structured dismissals of the chapter 11 cases of the A&P grocery store chain and the Il Mulino family of restaurants.  The court rejected arguments that the structured dismissals violated the Supreme Court’s Jevic decision, which held that structured dismissals cannot be approved over the dissent of affected creditors if distributions are made to junior creditors in violation of the Bankruptcy Code’s absolute priority rule.

Southern District of Texas Bankruptcy Court Rules That Indenture Trustees Must Provide a Substantial Contribution in Exchange for Payment of Fees by Estate

The U.S. Bankruptcy Court for the Southern District of Texas held indenture trustees must satisfy the “substantial contribution” standard to obtain administrative expense status for their fees and expenses in a chapter 11 case.