In re Castleton Plaza Debtors

News & Analysis as of

When Lenders are the Losers in Bankruptcy Court...Well, Not so Fast

Last October, I wrote about a scheme employed, in three separate bankruptcy cases, by debtors seeking to evade the absolute priority rule in order to keep the real property owned by the debtor in the hands of the ‘family’ at...more

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

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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