On Jan. 19, 2019, the U.S. Court of Appeals for the Fifth Circuit vacated a bankruptcy court decision awarding Ultra Petroleum Corp. noteholders $201 million in make-whole payments and $186 million in post-petition interest. Under the note agreement, upon a bankruptcy filing, the issuer is obligated for a make-whole amount equal to the discounted value of the remaining scheduled payments (including principal and interest that would be due after prepayment) less the principal amount of the notes.
USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Fifth Circuit
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USA, Texas, Insolvency & Restructuring, Insurance, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, Injunction
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USA, Texas, Insolvency & Restructuring, Insurance, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, Injunction
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USA, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Collateral (finance), Federal Reporter, Budget, Debt, Mortgage loan, Foreclosure, Secured creditor, In rem jurisdiction, US Code, United States bankruptcy court, Seventh Circuit