That's Cold: 6th Circ. Reading Of BAPCPA In Ice House

Law360, New York (May 19, 2014, 1:28 PM ET) -- On May 13, 2014, the United States Court of Appeals for the Sixth Circuit issued a decision that reversed the confirmation of an individual Chapter 11 debtor’s plan of reorganization on the grounds that the plan violated the “absolute priority rule” by allowing the debtor to keep most of his unencumbered assets without paying his creditors in full.[1] The Sixth Circuit disagreed with the bankruptcy court’s conclusion that the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 eliminated the absolute priority rule for Chapter 11... Read more