News & Analysis as of

Debtors New Value Plans

Patterson Belknap Webb & Tyler LLP

In Preference Suit, Seventh Circuit Holds That Debtor’s Assignment of Contractual Rights Does Not Negate Creditor’s New Value...

In Levin v. Verizon Bus. Global, LLC (In re OneStar Long Distance, Inc.), 2017 U.S. App. LEXIS 18374 (7th Cir. Sept. 22, 2017), the Seventh Circuit recently addressed a situation where a debtor sought to reduce a creditor’s...more

BakerHostetler

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

BakerHostetler on

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

Davis Wright Tremaine LLP

"New Value" Plans Require Competitive Bidding, Says 7th Circuit

In a decision issued yesterday, the 7th Circuit Court of Appeals held that insiders can't be given a special opportunity to invest in a bankrupt debtor under the guise of contributing "new value" unless the debtor makes the...more

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