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Chapter 11 Modification

Jones Day

Bright-Line Rule: No Modification of Substantially Consummated Chapter 11 Plan

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To promote the finality and binding effect of confirmed chapter 11 plans, the Bankruptcy Code categorically prohibits any modification of a confirmed plan after it has been "substantially consummated." Stakeholders, however,...more

Obermayer Rebmann Maxwell & Hippel LLP

Game Over, Man! Bankruptcies Trump Ongoing Obligations under Expired CBAs

On May 31, 2016, the Supreme Court denied the cert. petition of Unite Here Local 54, Atlantic City’s largest casino workers’ union, which challenged a Third Circuit decision affirming a Delaware Bankruptcy Court decision that...more

Orrick - Finance 20/20

Patriot Coal Authorized to Modify Union Obligations

On May 29, Patriot Coal (Patriot) became the third major debtor in the last year to receive court approval to modify union benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code....more

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