Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect their rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

Two recent decisions from the District Court for the Southern District of New York have renewed interest in the Trust Indenture Act and the ability of minority bondholders to use it as a shield to protect its rights in an out-of-court nonconsensual restructuring:  Marblegate Asset Management, LLC v.

In melodramatic movie weddings, guests are urged, before the couple is joined in matrimony, to “speak now or forever hold their peace” (although this phrase never seems to work its way into actual wedding ceremonies – presumably because there are no longer legitimate objections to a marriage that guests should be voicing at the wedding).

Today, we follow up on our earlier post where we reviewed the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings

The U.S. Bankruptcy Court for the Northern District of Illinois recently held in Krol v.

Two recent decisions from large and highly contested chapter 11 cases add to the developing body of case law on the treatment of make-whole claims in bankruptcy.  First, in a two-part post, we discuss the United States Bankruptcy Court for the District of Delaware’s decision in Energy Future Holdings, and later, in a follow-up post, we discuss the United States District Court for the Southern District of

The hard work has been done – the plan has been negotiated and confirmed, the confirmation order has been entered, and holders of allowed claims (and maybe even interest holders) await their distribution under the plan. A plan, however, may require that creditors or equity holders take certain acts prior to participation in the plan distribution, or forfeit their right to participate.

We resume our ongoing coverage of the Report of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 as it relates to exiting the chapter 11 case. A prior post highlighted key proposals about plan voting, and today’s post discusses key proposals about plan settlements, exculpation and release provisions, and exit orders.

This latest installment of our ongoing coverage of the Report of the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 discusses the Commission’s proposals regarding plan content, voting, confirmation issues, and exit orders (Report sections VI.E, F, and G). The recommendations are geared toward creating greater efficiencies in the plan process by reducing what the Commissioners view as opportunities for litigation and gamesmanship, and clarifying the permissibility of certain plan provisions and orders that have divided courts.

We admit, discovery disputes rarely make for titillating blog posts. But a letter ruling issued towards the end of last year by Judge Shannon in Longview Power, LLC et al. v. First American Title Insurance Co. recently caught our eye.