Reuters reports that the Brazilian government will forgive approximately US$1.3 billion worth of debt owed to it by telecommunications firm Oi SA, which has been involved in a pending bankruptcy proceeding in Brazil since 2016. [Reuters; Nov. 27, 2020]

Reporting from Bloomberg indicates that boutique apparel chain Francesca’s Holdings Corp. is preparing to file for

In Henry Hobbs Jr. v. Buffets LLC the United States Court of Appeals for the Fifth Circuit upheld the constitutionality of a recent increase in United States Trustees fees that are charged to Chapter 11 debtors. The decision overruled a decision by the bankruptcy court, which held that the fee increase resulted in the application

Mayer Brown partners Sean Scott, Matt Wargin, and Aaron Gavant, counsel Craig Reimer, and associate Sam Rabuck discussed the recent decision in CNH Diversified Opportunities Master Account, L.P. v. Cleveland Unlimited, Inc. from New York’s highest appellate court, the Court of Appeals, and its potential impact on minority noteholder rights in connection with a strict

The Wall Street Journal reports that the trailing 12-month default rate for U.S. corporate issuers of speculative-grade bonds and loans was 8.5% in September of 2020, which is below the 11.2% forecasted by credit rating agency Moody’s in April 2020. [WSJ; Oct. 26, 2020]

Reporting from Business Insider details how subscription streaming service Quibi is

Houston, TX-based oil services provider SAExploration Holdings Inc. has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas, reports the Wall Street Journal. SAExploration reportedly owes $6.8 million on a unsecured loan it received through the Paycheck Protection Program of the CARES Act. [WSJ; Aug.

Bloomberg reports on the growing use of chapter 11 bankruptcy by large retail tenants in order to negotiate their way out of costly, long-term leases and the potential downstream effects of this process on both the commercial real estate and commercial mortgage backed securities markets. [Bloomberg; Aug. 6, 2020]

The Wall Street Journal reports that

British communications and satellite internet company OneWeb, which filed for bankruptcy earlier this year in the United States Bankruptcy Court for the Southern District of New York, has received a $1 billion bid to purchase the company out of bankruptcy, reports CNBC. If the sale is approved, the U.K government and Bharti Global, which