News & Analysis as of

Cramdown Interest Rates Chapter 13

Tonkon Torp LLP

The Eighth Circuit’s Topp Decision Adds Flexibility to Cramdown Interest Rate Calculations

Tonkon Torp LLP on

The Eighth Circuit recently weighed in on the issue of how to determine appropriate cramdown interest rates for secured creditors in Chapter 11 bankruptcy plans under Section 1129 of the Bankruptcy Code....more

Jones Day

In Brief: On Remand, Momentive Bankruptcy Court Rules That Cramdown Notes Should Bear "Process Efficient" Market Interest Rate

Jones Day on

In Momentive Performance Materials Inc. v. BOKF, NA (In re MPM Silicones, L.L.C.), 874 F.3d 787 (2d Cir. 2017), cert. denied, 138 S. Ct. 2653 (2018), the U.S. Court of Appeals for the Second Circuit affirmed a number of lower...more

Jones Day

Second Circuit Issues Key Cramdown Interest Rate Ruling

Jones Day on

In Momentive Performance Materials Inc. v. BOKF, NA (In re MPM Silicones, L.L.C.), 2017 BL 376794 (2d Cir. Oct. 27, 2017) ("Momentive"), the U.S. Court of Appeals for the Second Circuit, in a long-anticipated decision,...more

A&O Shearman

A Decision of Interest: U.S. Court of Appeals for the Second Circuit Opines on the Proper Interest Rate Under the Cramdown...

A&O Shearman on

On October 20, 2017, the United States Court of Appeals for the Second Circuit issued an important decision regarding the manner in which interest must be calculated to satisfy the cramdown requirements in a chapter 11 case....more

Latham & Watkins LLP

Second Circuit Requires Consideration of Efficient Market for Chapter 11 Cramdown Interest Rates

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Ruling overturns New York decision rejecting market-based approach. Key Points: - Court of Appeals for the Second Circuit requires courts to consider efficient market interest rate, if available, for purposes of chapter...more

BakerHostetler

Second Circuit: Secured Lender Not Entitled to a Make Whole Premium in “Cramdown” Restructuring, But May Be Entitled to Higher...

BakerHostetler on

On October 20, in Matter of M.P.M. Silicones, L.L.C. (“M.P.M. Silicones”), the United States Court of Appeals for the Second Circuit held that secured noteholders were not entitled to an approximately $200 million make-whole...more

Robinson & Cole LLP

Cramdown Interest Rate Best Set Based on Market Rates

Robinson & Cole LLP on

The Bankruptcy Code permits cramdown of a secured creditor but requires that the secured creditor receive deferred cash payments at least equal to the value of its collateral. This means that installment payments to the...more

Burr & Forman

Burr Alert: The Basics Of Cramdown Interest Rates In Chapter 11

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A debtor in a chapter 11 bankruptcy may treat a secured claim in one of two ways in its plan of reorganization: (1) the debtor may propose to cure any existing default, compensate the creditor for any loss sustained by the...more

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