Second Circuit holds that senior creditors’ “gifting” of value to existing shareholder under reorganization plan violates absolute priority rule

Date

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Location
USA
Authors
Michael L. Cook
Firm
Schulte Roth & Zabel LLP
Tags
USA
Insolvency & Restructuring
Litigation
Schulte Roth & Zabel LLP
Share (finance)
Bankruptcy
Shareholder
Debtor
Unsecured debt
Interest
Debt
Standing (law)
Unsecured creditor
Sprint Corporation
Second Circuit
United States bankruptcy court
US District Court for SDNY