Can We Stop Them From Filing Bankruptcy?

Your lender client calls you in a panic about a borrower potentially filing for Chapter 11. You vaguely recall there was a recent decision discussing the enforceability of blocking positions. Then you remember reading about this decision in a Practical Guidance newsletter.

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Related Content

• LLCs and Bankruptcies
  Review this practice note for a discussion of LLC and member bankruptcies, structuring LLCs as bankruptcy remote entities, and drafting the operating agreement to address bankruptcy issues.

• Bankruptcy Remoteness in Securitization
  See this practice note for a discussion of structuring an entity as a bankruptcy remote entity in securitization transactions.

• Bankruptcy Remote Entities in Commercial Real Estate Transactions
  Use this practice note to understand the use of bankruptcy remote entities as borrowers in commercial real estate financing transactions.

• Mixed Signals on Enforcement of Provisions Precluding Bankruptcy Filing Absent Lender's Consent
  See this article for a discussion of two cases addressing the disagreement among courts over whether blocking provisions in a borrower's organizational documents are enforceable.

• Non-Consolidation Opinion
  Use this form when drafting an opinion that the borrower's assets and liabilities would not be substantively consolidated with those of related entities where the borrower will be established as a special purpose entity.

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