Ruling overturns New York decision rejecting market-based approach.
Key Points:
• Court of Appeals for the Second Circuit requires courts to consider efficient market interest rate, if available, for purposes of chapter 11 “cramdown.”
• Second Circuit decision overturns lower court ruling that used “formula approach” to determine appropriate chapter 11 cramdown interest rate.
Second Circuit’s reversal of controversial restructuring decision may boost confidence among distressed bond issuers.
USA, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Higher Education Act 1965 (USA), Second Circuit
Bankruptcy Court reinforces importance of parties’ intent in determining the nature of overriding royalty interests under state law.
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Debtor, United States bankruptcy court
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets
Introduction
Introduction
Introduction
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
Introduction
Introduction
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code