Timely insights and practical guidance on the evolving legal and business issues surrounding bankruptcy, restructuring, insolvency, and creditor rights.
- Posts by Mark D. Sherrill
ShareholderMark Sherrill is a seasoned bankruptcy and restructuring attorney with deep experience at the intersection of financial markets, energy, and commodities. As a shareholder in the firm’s Bankruptcy practice group, Mark guides ...
Golfers everywhere surely noted the recent bankruptcy filing of several LIV Golf entities. The filing comes at a critical point for the Saudi-backed professional golf league, which is seeking to restructure its business after the Public Investment Fund of Saudi Arabia (PIF) stopped funding LIV Golf. LIV Golf’s proposed restructuring would bring in new investors, convert certain player claims into equity in a reorganized company, and potentially preserve approximately $3 billion in net operating losses (NOLs). But LIV Golf has a limited window to complete the proposed ...
For decades, American bankruptcy courts have sat at the forefront of the restructuring world. With the enactment of the Bankruptcy Code in 1978, US law introduced the modern approach to insolvency law. For years afterwards, the Bankruptcy Code’s emphasis on restructuring and rehabilitation of the debtor stood in contrast with other countries’ focus on creditor’s rights.
In recent years, however, English courts have stepped into the limelight. In 2020, English law amended the Companies Act 2006 to introduce Part 26A, which allows for restructuring plans, or “RPs.” The ...