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Absolute Priority Rule Creditors Reorganizations

Rumberger | Kirk

Small Business Bankruptcy Reforms You Need to Know

Rumberger | Kirk on

For many years, people associated with the bankruptcy system in the United States recognized the process didn’t work well for small business owners. Corporate reorganizations through the Chapter 11 process were cumbersome and...more

Buchalter

Good News for Creditors in Individual Bankruptcy Cases

Buchalter on

For the past several years, creditors in the Ninth Circuit were confounded by an interpretation of the bankruptcy code that permitted individual chapter 11 debtors to retain a significant portion of their assets without...more

Troutman Pepper

Cramdown Hurdles Round 3: Try, Try Again

Troutman Pepper on

In re Ramz Real Estate Co., LLC, 510 B.R. 712 (Bankr. S.D.N.Y. 2013) – An undersecured mortgagee objected to a debtor’s proposed plan of reorganization on several grounds, including that (1) the plan was not approved by...more

Winthrop & Weinstine, P.A.

Seventh Circuit Holds That Debtor Cannot Circumvent Bankruptcy's Absolute-Priority Rule

Unless creditors accept a debtor's plan of reorganization, bankruptcy law requires the plan to provide for the payment in full of creditors before owners of the debtor receive anything on account of their equity interest....more

Sheppard Mullin Richter & Hampton LLP

The Seventh Circuit Expands Scope of Absolute Priority Rule to Protect Creditors

In a recent decision, In re Castleton Plaza, LP, 2013 WL 537269 *1 (Feb. 14, 2013), the Seventh Circuit held that the absolute priority rule – which requires that creditors be paid in full before equity holders receive...more

BakerHostetler

Seventh Circuit Reaffirms Absolute-Priority Rule in In re Castleton Plaza, LP

BakerHostetler on

Can an equity investor who directs an insider to contribute "new value" to a debtor under a plan of reorganization, so as to retain his interest in the company, avoid an express market test for that new equity? The answer to...more

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