Ultra court clarifies the requirements for classifying a creditor as “unimpaired” under a plan of reorganization.
Key Points:
• Texas bankruptcy court splits from Third Circuit in finding that a creditor must receive everything it is entitled to under non-bankruptcy law in order for the creditor to be “unimpaired.”
• The decision does not require that unsecured creditors receive post-petition interest but provides that they will be “impaired” if they do not
Second Circuit holds that Bankruptcy Code preempts creditors’ state law constructive fraud claims.
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Federal preemption, Shareholder, Fraud, Leveraged buyout, Title 11 of the US Code, Second Circuit
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
Introduction
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Debt, Title 11 of the US Code, Fifth Circuit