The term “golden shares” is often referred to equity interests held by a specific party—commonly a lender or investor—that authorize such party to block or prevent a corporate entity from filing bankruptcy. Such shares are often negotiated by a party that wants to ensure that its consent is obtained before any bankruptcy is commenced. Without […]
Read MoreAs predicted at the Commercial Finance Association’s Fourth Annual Energy Summit on September 16th, we should start seeing more and more oil & gas companies struggle to survive in the wake of continued low commodity pricing. While we witnessed some rebound in pricing towards the end of the summer, the price of oil again dipped […]
Read MoreThe United States Bankruptcy Court of the Northern District of Texas recently held that a confirmed chapter 11 plan of a liquidated company, R.L. Adkins Corp. (the “Corporation”), was not required to specifically preserve bankruptcy-created rights of the Corporation against its former principal. See Harvey L. Morton v. Robert Lewis Adkins, Sr. (In re Robert Lewis […]
Read MoreToday, Energy Future Holdings Corp. (“EFH“), a Texas corporation, and several of its subsidiaries, including TXU Energy (collectively with EFH, the “Debtors“), filed for chapter 11 bankruptcy relief. The Debtors are the largest generator, distributor and certified retail provider of electricity in Texas. The Debtors disclosed approximately $42 billion in funded indebtedness and EFH disclosed total assets of […]
Read MoreOn February 15, 2013, KRLD discussed the unique merger between American Airlines and US Airways, during American’s pending bankruptcy. To hear a clip of the discussion, please click on the following link: long @ american & usairways (mcarr)1 Related articles What an American-US Airways merger means for you (kansascity.com) AP Sources: American Airlines, US Airways to […]
Read MoreDec 5 (Reuters) – The United States Bankruptcy Court for the Northern District of Texas ordered that 10 units of Mexican glassmaker Vitro S.A.B. de C.V. (“Vitro”) be put into U.S. bankruptcy, and found that several of them had taken secret steps to prevent creditors from collecting money owed to them. Several U.S. hedge funds, led […]
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