The Court of Appeals for the Ninth Circuit recently held that section 1129(a)(10) of the Bankruptcy Code – a provision which, in effect, prohibits confirmation of a plan unless the plan has been accepted by at least one impaired class of claims – applies on “per plan” rather than a “per debtor” basis, even when the plan at issue covers multiple debtors. In re Transwest Resort Properties, Inc., 2018 WL 615431 (9th Cir. Jan. 25, 2018). The Court is the first circuit court to address the issue.
USA, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Ninth Circuit
The Ontario Court of Appeal (Court) recently affirmed the decision of the Ontario Superior Court of Justice in Nortel Networks Corporation (Re) (Nortel),[1] that the “interest stops” rule applies in proceedings unde
Canada, Ontario, Insolvency & Restructuring, Litigation, Dentons, Bond (finance), Interest, Court of Appeal for Ontario
Canada, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Heenan Blaikie LLP, Debtor, Fiduciary, Beneficiary, Defined benefit pension plan, Supreme Court of Canada
Canada, Employment & Labor, Insolvency & Restructuring, Litigation, Heenan Blaikie LLP, Conflict of interest, Debtor, Fiduciary, Defined benefit pension plan, Supreme Court of Canada