On October 14, 2022, the Fifth Circuit issued its decision in Ultra Petroleum, granting favorable outcomes to “unimpaired” creditors that challenged the company’s plan of reorganization and argued for payment (i) of a ~$200...more
10/20/2022
/ Commercial Bankruptcy ,
Corporate Finance ,
Corporate Financing ,
Corporate Officers ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Oil & Gas ,
Petroleum ,
Reorganizations
On January 17, 2019, the United States Court of Appeals for the Fifth Circuit issued a decision holding that “impairment” under a plan of reorganization does not arise even if a creditor is paid less than it would be entitled...more
The consummation of a plan of reorganization typically involves a series of complex actions by the debtor and its stakeholders (for example, existing debt and equity are extinguished and new debt and equity issued in their...more
10/1/2018
/ Appeals ,
Article III ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 9 ,
Commercial Bankruptcy ,
Equitable Mootness ,
Municipal Bankruptcy ,
Puerto Rico ,
Puerto Rico Oversight Management and Economic Stability Act (PROMESA) ,
Reorganizations ,
Waste Management
When it comes to voting on a plan, Section 1126(e) of the Bankruptcy Code provides that a bankruptcy court may designate (or disallow) the votes of any entity whose vote to accept or reject was not made in “good faith” (a...more