Siegel v. Fitzgerald, 142 S. Ct. 1770 (June 6, 2022)
USA, Arbitration & ADR, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, US Congress, Supreme Court of the United States
In a recent decision, In re Castleton Plaza, LP, 2013 WL 537269 *1 (Feb. 14, 2013), the Seventh Circuit held that the absolute priority rule – which requires that creditors be paid in full before equity holders receive anything on account of their equity interests under a plan of reorganization – applies equally to the “insiders” of a debtor.
USA, Insolvency & Restructuring, Litigation, Sheppard Mullin Richter & Hampton LLP, Debtor, Secured creditor, United States bankruptcy court, Seventh Circuit