Ultra Petroleum Corp. Make-Whole Saga Continues

Creditors File Petition for Rehearing En Banc After Fifth Circuit Reversal and Remand of Bankruptcy Court Decision Awarding Creditors Make-Whole and Post-Petition Interest in Accordance with the Terms of the Underlying Agreement.

Executive Summary

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
Authors:
Alfredo R. Perez
Location:
USA
Firm:
Weil Gotshal & Manges LLP
To Make-Whole … or Not

Fifth Circuit Holds that Disallowance of Claim Pursuant to the Bankruptcy Code Does Not Render Such Claim Impaired and Casts Doubt on Creditors’ Ability to Recover Make-Whole Amounts or Post-Petition Interest at the Default Contract Rate

Executive Summary

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Unsecured debt, Liquidated damages, United States bankruptcy court
Authors:
Alfredo R. Perez
Location:
USA
Firm:
Weil Gotshal & Manges LLP
To Make-Whole … or Not

Fifth Circuit Holds that Disallowance of Claim Pursuant to the Bankruptcy Code Does Not Render Such Claim Impaired and Casts Doubt on Creditors’ Ability to Recover Make-Whole Amounts or Post-Petition Interest at the Default Contract Rate

Executive Summary

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Unsecured debt, United States bankruptcy court
Authors:
Alfredo R. Perez
Location:
USA
Firm:
Weil Gotshal & Manges LLP