On April 25, the US Court of Appeals for the Third Circuit issued its precedential opinion in Mallinckrodt v. Sanofi-Aventis, Case No. 23-1111, reminding everyone that “creditors take on risks” when it ruled that the debtor...more
Recent decisions by the Fifth Circuit Court of Appeals and the Bankruptcy Court for the District of Delaware signal further disagreement over the treatment of “make-whole” premium payments under the Bankruptcy Code.
In...more
Why Achieving Consensus is the Best Path to Preserving the Flag -
Hotel owners, operators, and franchisors battling the impact of COVID-19 may need to consider whether chapter 11 of the Bankruptcy Code can deliver a...more
Eight years after the Delaware bankruptcy court confirmed the chapter 11 plan of Tribune Company and its affiliates, the United States Court of Appeals for the Third Circuit (the Court) affirmed the bankruptcy court’s...more
10/2/2020
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Debtors ,
Delaware ,
Interest Rate Swaps ,
Materiality ,
Subordination Agreement ,
Trustees ,
Unsecured Debt
The Plain Meaning Language of an Intercreditor Agreement Determines Whether it Governs Plan Distributions or Adequate Protection Payments -
In a recent non-precedential opinion, the United States Court of Appeals for the...more