Third Circuit refines break-up standard

Break-up fees1 remain difficult for initial (or so-called “stalking horse”) bidders to obtain in the Third Circuit. In Kelson Channelview LLC v. Reliant Energy Channelview LP (In re Reliant Energy Channelview LP), No. 09-2074 (3d Cir. Jan.

Filed under:
USA, Insolvency & Restructuring, Litigation, Schulte Roth & Zabel LLP, Shareholder, Debtor, Limited liability company, Testimony, Bright-line rule, Business judgement rule, United States bankruptcy court, Third Circuit
Authors:
Lawrence V. Gelber , James T. Bentley
Location:
USA
Firm:
Schulte Roth & Zabel LLP