A Liquidating Plan Doesn’t Automatically Pass the Best Interests Test, BAP Says
Findings of fact to show satisfaction of the best interests test ordinarily should be numerical comparisons, Ninth Circuit BAP Says
Court:
Coal Giant Murray Energy Emerges from Bankruptcy under New Name
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District’s Model Chapter 13 Plan Violates the Code by Requiring More than 60 Payments
Detroit’s Judge Randon holds that a chapter 13 plan’s five-year duration begins to run from the first payment, not from confirmation.
New York Judge Nixes $2.45 Billion in DIP Financing as a Sub Rosa Plan
Even though the price and terms were ‘entirely fair,’ Bankruptcy Judge Garrity disapproved DIP financing that would have locked in the right of controlling shareholders to purchase new stock at a 20% discount.
University Medical Unscathed After Denby-Peterson, Delaware District Judge Says
The government lost a winnable appeal by failing to present evidence in bankruptcy court.
Court:
Neiman Marcus Expects to Emerge from Bankruptcy by End of September
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Bruin E&P Emerges from Ch. 11 Protection
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Ninth Circuit: Government Doesn’t Pay Counsel Fees on Reversal of Sua Sponte Actions
Will there be occasions where the government must pay a debtor’s counsel’s fees when a U.S. Trustee unsuccessfully opposes a debtor’s initiative?
Court:
Denbury Resources Cleared to Exit Bankruptcy
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Shale Producer Whiting Petroleum Emerges from Bankruptcy
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