United States: What we read this week [April 1, 2022]
To print this article, all you need to do is be registered or log in to Mondaq.com.
The talc plaintiffs should have their appeal of a decision allowing J&J-subsidiary LTL Management to continue its Chapter 11 proceedings heard as soon as possible, according to the same bankruptcy judge who issued the decision. In February, Judge Michael Kaplan of the US Bankruptcy Court in New Jersey allowed the company to remain in Chapter 11, ruling that bankruptcy proceedings were a legitimate tool to resolve mass tort liability. Judge Kaplan’s recent ruling will allow talc plaintiffs to bypass the federal district court and have their appeal of that ruling heard directly by the Third Circuit Court of Appeals, as reported by the the wall street journal.
The SEC voted March 30 to propose new rules for special purpose acquisition companies (SPACS) that would bring SPAC disclosure requirements closer to traditional IPOs, according to the New York Times. Activity in the SPAC market has slowed significantly, with only 50 SPACs having raised $10 billion so far this year, compared to more than 600 SPACs having raised approximately $160 billion in 2021. Additionally, a fund indexed to hundreds of SPACs has lost about half its value since peaking in early 2021.
According to Bloomberg. Insurers’ experts testified that each individual should go through a sexual abuse assessment, to weed out “the fake cases that kind of jumped on the bandwagon because they saw something on Facebook” and get ensure that the real victims are compensated .
Forbes discusses what the Fed’s current and expected interest hikes will mean for private equity portfolios and the potential for increased bankruptcies among private equity-backed companies. These companies have largely avoided bankruptcy of late, with just 79 private equity-backed companies filing for bankruptcy in 2021 and just 18 so far in 2022.
Visit us at mayerbrown.com
Mayer Brown is a global provider of legal services comprised of law firms that are separate entities (the “Mayer Brown Firms”). The Mayer Brown firms are: Mayer Brown LLP and Mayer Brown Europe – Brussels LLP, two limited liability companies established in Illinois in the United States; Mayer Brown International LLP, a limited liability company incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales under number OC 303359); Mayer Brown, a SELAS based in France; Mayer Brown JSM, a partnership of Hong Kong and its associated entities in Asia; and Tauil & Checker Advogados, a Brazilian legal partnership with which Mayer Brown is associated. “Mayer Brown” and the Mayer Brown logo are registered trademarks of Mayer Brown law firms in their respective jurisdictions.
© Copyright 2020. Mayer Brown Practices. All rights reserved.
This article by Mayer Brown provides information and commentary on interesting legal issues and developments. The foregoing is not a complete treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action regarding the matters discussed here.
POPULAR ARTICLES ON: Insolvency/Bankruptcy/Restructuring from the United States