Bankruptcy Remote Special Purpose Entities Are Not Necessarily Bankruptcy Proof by Peter C. Blain (PDF)
This article explains two bankruptcy court decisions that serve as a stark reminder that "bankruptcy remote" is not necessarily "bankruptcy proof."
Peter C. Blain is a shareholder at Reinhart Boerner Van Deuren s.c. and chair of the firm's Business Reorganization Practice. Mr. Blain represents diverse parties in complex distress transactions both in and outside of bankruptcy proceedings, including lenders, debtors, trustees, committees, and other creditors. He has significant expertise in the purchase and sale of troubled businesses and has written extensively on distress mergers and acquisitions in bankruptcy and state court receiverships. In addition to numerous publications and recognition, Mr. Blain was requested by the American Chamber of Commerce and the U.S. Ambassador to the Czech Republic to lead a team to Prague where he addressed Czech judges and lawyers on the reorganization proceedings in light of the Czech bankruptcy statute. He received his J.D. from the Georgetown University Law Center and his B.S., cum laude, from Wisconsin State University-Stevens Point. He may be reached at firstname.lastname@example.org.
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