Artificial Impairment

News & Analysis as of

Confirmation Of A Chapter 11 Plan: Good Faith In The Context Of “Artificial Impairment”

In order to confirm a chapter 11 plan, at least one class of creditors whose claims are “impaired” must accept the plan. The concept of “impairment” is very broad. Under the Bankruptcy Code, a class of claims is impaired...more

Employer’s request for post-incident alcohol and drug test was not justified where no sign of impairment: arbitrator

An employee responsible for a minor, although unusual, accident in a company parking lot was justified in refusing to submit to an alcohol and drug test, a labour arbitrator has found. The employee was an electrician....more

Mile Marker: Google Beginning to Clear Legal Hurdles for Self-Driving Cars (but many more ahead)

Can self-driving vehicles (SDVs) use the carpool lane? That may be a legal question for another day, as SDVs still have barricades to overcome before moving to the fast lane and becoming available commercially for consumers. ...more

Lenders Beware -- Fifth Circuit has lowered the bar for cramdown plan confirmation

In a recent Fifth Circuit decision, Western Real Estate Equities, LLC v. Village at Camp Bowie I, L.P., No. 12-10271 (5th Cir. 2013), the court held that the acceptance vote from a minimally and “artificially impaired” class...more

Fifth Circuit Decisions Concerning Confirmation Of Plans Of Reorganization

The U.S. Court of Appeals for the Fifth Circuit recently issued two decisions that affect a borrower’s ability to confirm a bankruptcy plan, Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village...more

Village At Camp Bowie: The Fifth Circuit Weighs In On Artificial Impairment

A key tenet of reorganization under Chapter 11 is that if the debtor’s plan impairs creditors, at least some of those creditors must agree to the plan. More specifically, “if a class of claims is impaired under the plan, at...more

When “Loan to Own” Becomes “Own a Loan” – How a Recent Fifth Circuit Decision Rejecting the Artificial Impairment Doctrine...

Chapter 11 of the U.S. Bankruptcy Code provides debtors with a number of tools to restructure comprehensively their debts and other liabilities as well as immediate protection from secured and unsecured creditors. In single...more

Fifth Circuit Rejects “Artificial Impairment” Standard in Confirmation of Single Asset Real Estate Plan

In a pro-debtor opinion released on February 26, 2013, the Fifth Circuit Court of Appeals held that a debtor may “artificial impair” claims in a class to obtain an impaired and accepting class of claims as required by section...more

Bill on Bankruptcy: Secret Madoff Agreement May Harm Victims  [Video]

Feb. 27 (Bloomberg) -- Money stolen from victims of the Bernie Madoff Ponzi scheme is earmarked for someone who may have been an accomplice in the fraud, and the agreement is being kept secret by a federal district judge. ...more

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