"Supreme Court Approves Amendments to Bankruptcy Rule 2019: Amendments Likely to Take Effect on December 1, 2011" by Jon Kibbe

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May 9, 2011

This memorandum provides a further update to our December 23, 2009, and June 17, 2010, client alerts in which we described proposed amendments to Bankruptcy Rule 2019 which would have required members of ad hoc groups to disclose proprietary information concerning the timing and price of acquired claims. As described in our prior alerts, in response to comments made by distressed investors and bankruptcy practitioners, the proposed amendments were significantly narrowed so as to not require disclosure of such proprietary information. On April 27, 2011, the United States Supreme Court approved these revised amendments to Bankruptcy Rule 2019 which are scheduled to take effect on December 1, 2011.

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