News & Analysis as of

Chapter 11 Reorganizations Appeals

Jones Day

Business Restructuring Review Vol. 24, No. 4 | July–August 2025

Jones Day on

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once...more

Proskauer Rose LLP

The Evolving New Normal 2024 Private Credit Restructuring Year in Review

Proskauer Rose LLP on

In many ways, 2024 continued existing trends in private credit: modest levels of M&A activity, competition among direct lenders to deploy capital, higher-for-longer interest rates, persistent inflation, elevated default...more

Faegre Drinker Biddle & Reath LLP

Fifth Circuit Rejects Equitable Mootness Application in the Strongest Possible Terms, Excises Indemnity

In a landmark decision, the United States Court of Appeals for the Fifth Circuit rejected the application of equitable mootness in the strongest possible terms, stating that if the doctrine rendered the bankruptcy court’s...more

Snell & Wilmer

SCOTUS Decides Against Sacklers’ Release in Purdue Pharma

Snell & Wilmer on

On June 27, 2024, the U.S. Supreme Court issued its much-anticipated decision in Harrington v. Purdue Pharma L.P. The issue before the Court was whether the Bankruptcy Code permits nondebtors to obtain a release of...more

Nelson Mullins Riley & Scarborough LLP

Buyer Beware: The Risk of Ignoring Known Defects in Title Cannot be Cured by “Free and Clear” Bankruptcy Sale

Envision a scenario in which you purchased a right of first refusal for a parcel of real estate. That right, as bargained for, would let you purchase the parcel if it was put up for sale by matching any competing bidder’s...more

Herbert Smith Freehills Kramer

Tenth Circuit Holds the Doctrine of Equitable Mootness Applies to Liquidating Plans

In Drivetrain LLC v. Kozel (In re Abengoa Bioenergy Biomass of Kansas LLC), 18-3120 (10th Cir. May 5, 2020), the Tenth Circuit held that the doctrine of equitable mootness applies to appeals of confirmed Chapter 11 plans of...more

Cadwalader, Wickersham & Taft LLP

The Same, Only Better: Eighth Circuit Affirms Peabody Chapter 11 Plan Backstopped Rights Offering Despite Alleged Disparate...

On August 9, 2019, in a unanimous decision (written by a former bankruptcy judge), the Eighth Circuit Court of Appeals affirmed the confirmation of the Peabody Energy Chapter 11 plan (“Plan”) with a prominent backstopped...more

Snell & Wilmer

Is a Bankruptcy Plan that Violates Federal Criminal Law Proposed in Bad Faith?

Snell & Wilmer on

Although legal in many states, marijuana remains illegal under federal criminal law. See 21 U.S.C. § 856(a)(1). One would think that engaging in illegal activity under federal criminal law would preclude relief under federal...more

Davis Wright Tremaine LLP

Decision of the Ninth Circuit Court of Appeals in Garvin v. Cook Investments NW, Case No. 18-35119 (9th Cir. May 2, 2019)

In an earlier update, we told you about an appeal pending in the U.S. Court of Appeals for the Ninth Circuit that would decide whether a landlord receiving rent from someone involved in the state-legal cannabis industry could...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2019 Insights: Second Circuit Adopts Secured Creditor Cramdown Standard Based on Market Efficiency

In 2017, the U.S. Court of Appeals for the Second Circuit held in In re MPM Silicones, LLC that the appropriate interest rate for replacement notes issued to secured creditors under a “cramdown” Chapter 11 plan must be a...more

A&O Shearman

A Moot Point: Court Of Appeals For The Eleventh Circuit Holds That The Doctrine Of Equitable Mootness Is Applicable In A Chapter 9...

A&O Shearman on

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

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit Holds Protecting A Claim To Its Fullest Extent Is Not Evidence Of Bad Faith

The Ninth Circuit Court of Appeals recently held that a secured creditor’s purchase of general unsecured claims to block confirmation of a Chapter 11 plan did not in itself constitute bad faith....more

A&O Shearman

Ya Gotta Have [Good] Faith: Court of Appeals for the Ninth Circuit Holds That in the Context of Plan Voting, a Bad Faith Showing...

A&O Shearman on

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

Patterson Belknap Webb & Tyler LLP

One and Done. Cramdown Requirement for an Impaired Assenting Class Applies on a Per-Plan, Not a Per-Debtor, Basis.

Confirmation of a Chapter 11 plan of reorganization generally requires the consent of each impaired class of creditors. But, upon satisfaction of additional statutory requirements, a plan proponent can obtain confirmation of...more

Foley & Lardner LLP

Sixth Circuit Court of Appeals Holds Properly Perfected Assignment of Rents Not Property of Bankruptcy Estate

Foley & Lardner LLP on

In a significant ruling impacting commercial real estate lenders in Michigan, the 6th Circuit Court of Appeals has ruled that an absolute assignment of rents that had been fully perfected (by demanding payment from tenants to...more

Butler Snow LLP

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

Butler Snow LLP on

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

Perkins Coie

Ninth Circuit Overturns Entz-White Lumber; Avoiding Default Interest Via Cure Through Chapter 11 Plan No Longer Valid

Perkins Coie on

In the case of Pacifica L 51, LLC v. New Investments, Inc. (In re New Investments, Inc.), 9th Cir. November 4, 2016, the U.S. Court of Appeals for the Ninth Circuit held that a Chapter 11 debtor could not avoid paying default...more

Patterson Belknap Webb & Tyler LLP

Equitable Mootness: Two Recent Third Circuit Decisions

Equitable mootness is a judge-made remedy that is misnamed. Judges apply it to seek an equitable result, but mootness in the constitutional sense is absent. Article III, section 2 of the U.S. Constitution bars federal...more

18 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide