Following a six-month trial in the Incora/Wesco matter, U.S. Bankruptcy Judge Marvin Isgur delivered an oral decision in favor of Kobre & Kim’s clients on July 10, 2024.
Judge Isgur found that Incora/Wesco’s 2022 uptier transaction breached the lien protections in the Company’s 2026 secured note indenture.
Kobre & Kim's clients challenged the transaction, which involved US $250 million in gross new money and the exchange of over US $1 billion of other debt.
In Chapter 11 bankruptcy cases where the chances of recovery seem slim, global unsecured creditors may have to get creative and look outside the U.S. to improve their prospects.
Assets in the People’s Republic of China (PRC) – the world’s second largest economy – offers a surprising source of asset recovery opportunities.
We explain how creditors can unlock value in China and maximize their recovery.
In Chapter 11 bankruptcy cases where the chances of recovery seem slim, global unsecured creditors may have to get creative and look outside the U.S. to improve their prospects.
Assets in the People’s Republic of China (PRC) – the world’s second largest economy – offers a surprising source of asset recovery opportunities.
We explain how creditors can unlock value in China and maximize their recovery.
In U.S. Chapter 11 cases (especially those involving unsecured creditors), non-traditional asset sources often offer the best hope of recovery.
Assets based in China can present surprising asset recovery opportunities for U.S. creditor committees.
There is a range of options at a committee's disposal to unlock value from claims against PRC entities, and experience, creativity and local support on both sides of the Pacific are essential to securing monetization.
