Weekly News – March 18

Fee bonanza? Don’t get too excited…
Trump Offers to Help Russia File for Bankruptcy

Our case of the week for all you RMBS nerds….
We all knew statistical sampling couldn’t prove causation because hindsight is 20/20, right? NY Court of Appeals requires loan-level specific notice of breach causing Ambac stock to crater 20%+, read the decision here.

What’s trending this week?
Russia averts a $150 billion debt default for now 
Elliott pro still thinks their debt is worthless…. 
and here’s a shocker: 
Big European banks are unlikely to book Russian debt provisions

What are academics talking about?
DOJ conduct blasted as reprehensible…. by Judge Drain

and academics react

Coming to a podcast and luncheon near you
Podcast: Restructure This! Episode 4: Views From the S.D. Texas Bankruptcy Bench with Judges David R. Jones and Marvin Isgur of the U.S. Bankruptcy Court for the Southern District of Texas

TMA NYC Judges Luncheon featuring Judges Drain (SDNY), Jones (Complex Panels Judge SDTX) & Lopez (incoming Complex Panels Judge SDTX)

We aren’t holding our breath…
Will We Have New Rules for Corporate Bankruptcies? Recently Proposed Legislation That Could Reform Chapter 11 Practice

Let’s talk about make-wholes
Recent Delaware Bankruptcy Rulings Address Whether a Plan of Reorganization Can Deny a ‘Make-Whole’ Payment Without Impairing Lenders’ Claims

Upcoming Events
March 22: American Bankruptcy Institute: The Conflict in Ukraine: Impact on Capital, Markets and Boardrooms

March 22: Akin Gump: Reflections and Insights: Ad Hoc Committees in Financial Restructurings

April 26: TMA: NYC Judges Luncheon featuring Judges Drain, Jones & Lopez

April 28: American Bankruptcy Institute Annual Spring Meeting

May 11: VALCON 2022

Send us your next event or
Check out upcoming events