The common law solvent debtor exception, in short, means that a solvent debtor must generally pay post-petition interest accruing during bankruptcy at the contractual or state law rates before collecting surplus value from...more
The law on debt restructurings and liability management is back to where it was. Yesterday, the Second Circuit Court of Appeals reversed the controversial District Court decisions in the Marblegate-Education Management...more
Involuntary debt restructurings that have the effect of impairing a bondholder’s right to receive payment may violate the Trust Indenture Act. This was recently held in the Marblegate/Education Management Corp. bondholder...more