A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side.
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Second Circuit Affirms District Court's Power to Prevent Involuntary Bankruptcy Filings
July 9, 2010
On June 15, 2010, the Second Circuit Court of Appeals held that district courts possess the authority and discretion to bar the filing of involuntary bankruptcy petitions without the district court's permission. While cautioning that district courts should exercise this authority sparingly, the Second Circuit affirmed that in the context of an SEC receivership, district courts may enter anti-litigation injunctions which prevent any creditor or claimant from filing a lawsuit, lien, encumbrance, or bankruptcy case without first obtaining the district court's approval.