Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock

more+
less-
May 2 (Bloomberg Law) -- Eastman Kodak Co. filed a Chapter 11 plan that cratered the stock and bumped up the unsecured notes, although the plan may be revised to pay off second-lien debt fully in cash, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their video. Next, Rochelle and Pacchia address a decision by a Delaware bankruptcy judge in the reorganization of School Specialty Inc. apparently holding that no make-whole premium will ever be too large for approval. The third item See more +
May 2 (Bloomberg Law) -- Eastman Kodak Co. filed a Chapter 11 plan that cratered the stock and bumped up the unsecured notes, although the plan may be revised to pay off second-lien debt fully in cash, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their video. Next, Rochelle and Pacchia address a decision by a Delaware bankruptcy judge in the reorganization of School Specialty Inc. apparently holding that no make-whole premium will ever be too large for approval. The third item concerns a doctrine known as equitable estoppel, often used to stymie appeals from bankruptcy court approvals of reorganization plans. Whether it's a valid theory remains undecided, now the U.S. Supreme Court declined to review a decision dismissing an appeal from a confirmation order approving the Charter Communications Inc. Chapter 11 plan. The final item is an opinion telling lawyers for consumer bankrupts how they can violate ethical rules when signing clients to flat-fee arrangements. See less -

Embed Video

Copy

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Bloomberg Law | Attorney Advertising

Written by:

more+
less-

Bloomberg Law on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×