Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
Bill on Bankruptcy: Secret Madoff Agreement May Harm Victims
Chapter 11 plans that propose to extinguish existing equity interests because the estate does not have any value remaining after the payment of creditor claims are common. The Bankruptcy Code's "absolute priority rule"...more
In a decision that addresses the value to apply to a secured creditor’s collateral facing cramdown, the Ninth Circuit, sitting en banc, reaffirms that, in determining cramdown value, a secured creditor is only entitled to the...more