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Confirmation Denied: Chapter 11 Plan Did Not Satisfy New Value Exception to Absolute Priority Rule Without Market Testing

USA - March 4 2022 When existing interest holders attempt to retain ownership of a chapter 11 debtor after confirmation of a nonconsensual plan of reorganization, the…

Mark G. Douglas

Another Bankruptcy Court Rules the "Solvent Debtor Exception" Survived Enactment of the Bankruptcy Code

USA - November 15 2021 Whether the pre-Bankruptcy Code "solvent debtor exception" requiring the payment of postpetition interest to dissenting unsecured creditors under a…

Mark G. Douglas

Bankruptcy Court Recharacterizes Purported Loan as Equity

USA - May 21 2021 It is generally recognized that a bankruptcy court has the power—either equitable or statutory—to recharacterize a purported debt as equity if the…

Mark G. Douglas

FERC v. Bankruptcy Court Turf War Update

USA - October 14 2020 On June 22, 2020, the Federal Energy Regulatory Commission ("FERC") issued an order concluding that FERC and the U.S. bankruptcy courts have…

Mark G. Douglas

Secured Creditor's "Net Economic Damages" Estimate of Disputed Claims "Plainly Insufficient" to Establish Collateral Value

USA - August 13 2020 Valuation is a critical and indispensable part of the bankruptcy process. How collateral and other estate assets (and even creditor claims) are valued…

Mark G. Douglas