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Liquidated Damages Reorganizations

Jones Day

Texas Bankruptcy Court Allows Make-Whole Premium as Liquidated Damages and Requires Solvent Chapter 11 Debtor to Pay Postpetition...

Jones Day on

On October 26, 2020, the U.S. Bankruptcy Court for the Southern District of Texas issued a long-awaited ruling on whether natural gas exploration and production company Ultra Petroleum Corp. ("UPC") must pay a make-whole...more

Holland & Knight LLP

Texas Bankruptcy Court Enforces Make-Whole Premiums and Postpetition Default Interest

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The U.S. Bankruptcy Court for the Southern District of Texas awarded on Oct. 26, 2020, a make-whole premium and post-petition interest at the contractual default rate (as opposed to the materially lower federal judgment rate)...more

Jones Day

Chapter 11 Plan Not Providing for Payment of Make-Whole Premium Impaired Noteholders

Jones Day on

In In re Ultra Petroleum Corp., 2017 BL 335015 (Bankr. S.D. Tex. Sept. 21, 2017), the U.S. Bankruptcy Court for the Southern District of Texas ruled that certain private-placement noteholders were entitled to receive a...more

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