Insights
Search Results
Alerts
6.15.26
Delaware Enacts Uniform Assignment for the Benefit of Creditors Law
On June 10, 2026, Delaware joined four other states and enacted a version of the Uniform Assignment for the Benefit of Creditors Act (the Act). The Act constitutes a significant change to Delaware’s prior statute, first enacted in 1875, and modernizes and streamlines Delaware’s assignment for the benefit of creditors process.1
News Articles
3.16.26
Lawdragon Names Erin Fay Among 2026 “500 Leading Global Bankruptcy & Restructuring Lawyers”
On March 13, 2026, Lawdragon recognized Wilson Sonsini’s Erin Fay among its “500 Leading Global Bankruptcy & Restructuring Lawyers” for 2026. For this guide, Lawdragon conducted independent research, accepted nominations, and consulted with industry peers.
Client Highlights
12.15.25
Wilson Sonsini Advises Quantum Computing on $110 Million Acquisition of Luminar Semiconductor
On December 15, 2025, Quantum Computing (QCi), an innovative, quantum optics and integrated photonics technology company, announced that it has signed an agreement to acquire Luminar Semiconductor (LSI), a wholly owned subsidiary of Luminar Technologies, in an all-cash transaction valued at $110 million, subject to customary adjustments. Wilson Sonsini Goodrich & Rosati is advising QCi on the transaction
News Articles
6.30.25
Erin Fay Named to 2025 Lawdragon “500 Leading Global Bankruptcy & Restructuring Lawyers” List
On June 27, 2025, Lawdragon recognized Wilson Sonsini’s Erin Fay among its “500 Leading Global Bankruptcy & Restructuring Lawyers” for 2025. For this guide, Lawdragon conducted independent research, accepted nominations, and consulted with industry peers. Among those honored in the list are traditional bankruptcy lawyers, specialists in leveraged finance and restructuring, and litigators well-versed in financial litigation and distress.
Client Highlights
2.28.25
Wilson Sonsini Advises Urgent.ly on Debt Restructuring and New $20 Million Revolving Credit Facility
On February 26, 2025, Urgent.ly, a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced that it reached an agreement with its lenders resulting in significant capital structure improvements. Urgent.ly entered into a new credit agreement for an asset-based revolving credit facility for up to $20 million with MidCap Financial, which will be used to repay existing indebtedness and to help the company advance its mission to transform the legacy roadside assistance market and to develop and define the new market for connected mobility assistance services for automotive, insurance, fleet, logistics, new mobility, and technology transportation companies.
News Articles
6.20.24
Erin Fay Honored Among 2024 Lawdragon "500 Leading Global Bankruptcy & Restructuring Lawyers"
On June 14, 2024, Lawdragon named Wilson Sonsini partner Erin Fay to its annual list of “500 Leading Global Bankruptcy & Restructuring Lawyers.” The list recognizes lawyers who help companies, their financiers, suppliers, and the universe of everyone impacted when companies go bust, need to transition, or work through difficulties. For this guide, Lawdragon conducted independent research and consulted with leaders in the area including traditional bankruptcy lawyers, specialists in leveraged finance and restructuring and litigators well-versed in financial litigation and distress.
Press Releases
3.08.23
Wilson Sonsini Adds Erin Fay to Restructuring Practice in Delaware
Contact:
Wayne Kessler
Baretz+Brunelle
732.239.9710 Mobile
wkessler@baretzbrunelle.com
Wayne Kessler
Baretz+Brunelle
732.239.9710 Mobile
wkessler@baretzbrunelle.com
Alerts
7.26.22
Fifth Circuit Vacates FERC Orders, Reaffirming Contract Rejection Powers in Bankruptcy
On July 19, 2022, the U.S. Court of Appeals for the Fifth Circuit added to a stream of recent decisions upholding a debtor's right to "reject" regulated energy contracts in bankruptcy, even over the objection of the Federal Energy Regulatory Commission (FERC). With its decision, the court vacated a pair of FERC orders entered prior to the actual bankruptcy proceeding that sought to require a natural gas producer to continue performing under agreements even if they were to be rejected in a bankruptcy case.1
Alerts
5.11.20
Delaware Bankruptcy Court Rules Shareholder “Blocking Right” to Prevent Corporate Bankruptcy Subordinate to Federal Public Policy
In the first decision by a Delaware court to address this issue, a Delaware bankruptcy judge denied a shareholder's motion to dismiss a Chapter 11 bankruptcy case based on the shareholder's contractual blocking right. While the decision focused on the particular facts and circumstances of the case, it serves as an indicator that the public policy surrounding bankruptcy may override negotiated shareholder protections in a company's governing documents.
Bylined Articles
4.30.20
Principal Tax Issues in Debt Restructurings
As a result of the current difficult economic environment, many debtors and lenders find themselves in the position of having to renegotiate and restructure their debt obligations and entitlements. Without careful upfront tax planning, these restructurings may result in adverse tax consequences that can exacerbate the economic pain that the parties are already suffering. For the distressed debtor, the principal consideration is to avoid cancellation of indebtedness (COD) income or the loss of valuable tax attributes such as net operating loss carryforwards (NOLs). For the lender, the principal consideration is to avoid restructuring the debt in a manner that results in the deemed issuance of a new debt that includes original issue discount (OID) and, consequently, taxable income in advance of receiving cash. It should be noted that recent changes in tax law have made these rules more relevant to debt restructurings of “controlled foreign corporations” (CFCs). The following discussion summarizes the key federal income tax issues at play which should be kept in mind by the parties in implementing any such restructuring.
Client Highlights
4.09.20
Firm Advises Savara in Collaboration with Grifols
On April 2, 2020, Savara Inc., an orphan lung disease company, announced the company has entered into an exclusive license and collaboration agreement with Grifols for Apulmiq (inhaled liposomal ciprofloxacin) after Grifols had acquired the assets in a bankruptcy process. Wilson Sonsini Goodrich & Rosati represented Savara in the transaction.