The Role Of The Independent Director In A Restructuring

The practice of appointing one or more independent directors to the boards of distressed companies has not only proliferated in recent years, but has become the subject of increasing controversy. In this episode of the Restructure THIS! podcast, John Dubel discusses, among other things, the proper role of an independent director in a restructuring and weighs in on whether he believes the current independent director framework in chapter 11 is broken. In doing so, […]

By | March 26th, 2022 ||

2021 Business Restructuring + Insolvency Annual Review

2021 was a productive year for the Business Restructuring + Insolvency Group at Morrison & Foerster. We would like to provide our friends and clients with an overview of the matters on which we have worked throughout the year. As you will note, our work in 2021 continued to reflect our track record of being a “go-to” firm for complex restructurings across industries and jurisdictions.

Our roles have varied, from representing a range of clients […]

By | March 16th, 2022 ||

New York Federal Court Upholds Bankruptcy Court’s Fraudulent Conveyance Finding For Tax Sale Foreclosure

The United States District Court for the Western District of New York recently upheld the findings of a Bankruptcy Court, which held that the in rem tax foreclosure of the subject property was a fraudulent conveyance. See Duvall v. Cty. of Ont., 2021 U.S. Dist. LEXIS 216970 (W.D.N.Y. 2021). The matter arose from the tax foreclosure of property (the “Property”) for the non-payment of taxes arising in 2015.  In October 2016, the County issued a foreclosure […]

By | March 6th, 2022 ||