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Entries tagged “Assets”

Chaos Sparks Corporate Exit from Catalonia

Insight Stephen Díaz Gavin Stephen Díaz Gavin · October 23, 2017
Spain’s central government has now invoked Article 155 of the Spanish Constitution to take control from the secessionist-oriented government in the region of Catalonia.  The executive of the Catalonian regional government will be replaced, the regional police and finances will be controlled from Madrid and regional elections will be

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Third Circuit SemCrude Decision Impacts Oil Producers and Purchasers

Insight Douglas J. Schneller Douglas J. Schneller · September 04, 2017
Applying Delaware law, the United States Circuit Court of Appeals for the Third Circuit issued a ruling that will significantly affect the rights of upstream producers of oil and gas and secured creditors generally. The court determined that upstream oil producers did not have automatically perfected security interests in oil they sold

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Insolvency of Alitalia Puts Creditors on Notice to Make Claims

Insight Douglas J. Schneller Douglas J. Schneller · Emma R. Larson Emma R. Larson · Stephen Díaz Gavin Stephen Díaz Gavin · Claudio Palmieri Claudio Palmieri · July 20, 2017
The May 2, 2017 bankruptcy filing for Alitalia might be the end of the journey for the troubled Italian flag carrier, but creditors in the U.S., Italy and elsewhere might still have a ticket to recover some claims. Alitalia has now also filed for bankruptcy protection in the U.S. under Chapter 15 of the Bankruptcy Code. Chapter 15 was added

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Maintaining Your Legal Entity Identifier (LEI) Just Got More Invasive

Insight Robin Powers Robin Powers · James Ballard James Ballard · July 17, 2017
Global Market Entity Identifier Utility (GMEI), an LEI issuer, is now requesting information relating to the parents of its registered entities.  The past information collected on an LEI entity, which consisted of self-identifying information, is known as “Level 1 Data.”  The additional information now being requested is

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First Circuit: Bankruptcy Court “Retention of Jurisdiction” Provision Requires More Than Mere Words

Insight Douglas J. Schneller Douglas J. Schneller · July 11, 2017
The First Circuit recently ruled that the bankruptcy court lacked the authority to adjudicate disputes under a contract because there was no “arising under,” “arising in” or “related to” jurisdiction — in spite of the fact that the contract itself, previously approved by the bankruptcy court, included a

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