Troutman Pepper Financial Services

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Chapter 11 plans often include various releases, some favoring the debtor and others benefiting nondebtor third parties. While creditors are bound by a Chapter 11 discharge, they have options regarding third-party releases. Understanding these releases is crucial for creditors to protect their interests. The Chapter 11 discharge releases the debtor from most past debts, providing

On January 16, the Internal Revenue Service (IRS) published proposed regulations (90 FR 4691) under Section 162(m) of the Internal Revenue Code. Section 162(m) generally limits the deductibility of compensation paid in any tax year to covered employees of a publicly held corporation to $1 million.

Troutman Pepper Locke attorneys Alexandra Steinberg Barrage, Matthew Bornfreund, and James Stevens, along with Michele Alt of Klaros Group and other leading banking and financial services professionals, released an open letter to the incoming administration outlining concrete ways the FDIC, OCC, and Federal Reserve Board (Agencies) could encourage new and innovative bank formation.

When an employer files for bankruptcy, employees often worry about the fate of their severance payments. Under Section 503(b)(1)(A) of the Bankruptcy Code, wages, salaries, and commissions for services rendered after the commencement of the bankruptcy case are treated as administrative expense claims. Additionally, Section 507(a)(4) grants priority status to wages, salaries, or commissions, including

On January 20, Travis Hill became the Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Following his remarks on FDIC policy issues on January 10 at the American Bankers Association, in his first statement as Acting Chairman, Hill highlighted various priorities and mentioned new initiatives, emphasizing a commitment to regulatory reform, innovation, and a

Days before President Biden leaves the White House, the U.S. government has delivered a major blow against Russia. On January 10, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced its most comprehensive sanctions to-date against Russia’s energy sector. OFAC’s sanctions were complemented by another sweeping sanctions action by the