Courts are often faced with the situation in which affiliated debtors file for Chapter 11 reorganization and request to have their cases jointly administered. While joint administration does not, without more, cause substantive consolidation of the assets and liabilities of the corporate group, jointly-administered debtors may propose a single plan of reorganization that establishes the recovery for all of the debtors’ creditors.
USA, Company & Commercial, Insolvency & Restructuring, Litigation, Sullivan & Worcester LLP, Holding company, Ninth Circuit, United States bankruptcy court
BACKGROUND
International businesses involved in transactions associated in some way with U.S. citizens received a measure of relief over the 4th of July holiday weekend.
USA, New York, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Sullivan & Worcester LLP