In December 2015, U.S. Bankruptcy Court Judge Laurie Silverstein of the District of Delaware confirmed a plan of reorganization in the Millennium Lab Holdings chapter 11 case that included the non-consensual release of certain claims against various non-debtor third parties.
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Plan of Reorganization
Energy Future Holdings Chapter 11 Case – The Largest Game Ever of Texas Hold’em?
By Ben Feder on
Posted in Chapter 11
The chapter 11 case of Energy Future Holdings (“EFH” or “Debtors”) roared back to life this month. Certain key conditions for the plan of reorganization approved last December (the “First Plan”) to become effective were not met by a deadline …
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Energy Future Holdings – Kicking a Very Large Can Down the Road
By Ben Feder on
Posted in Chapter 11
Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”). Last week Judge Christopher Sontchi of the United States Bankruptcy Court…
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DeX Games – SuperMedia and Dex One File Simultaneous Chapter 11 Cases to Effect Merger
By Ben Feder on
Posted in Distressed M&A
Distressed m&a is the “new normal” in Chapter 11 cases, as noted here and elsewhere. Two large media marketing and advertising companies, SuperMedia and Dex One, took the “new normal” to new extremes last week by filing simultaneous and
Absolute Priority Rule Absolutism? Strict Interpretation of Bankruptcy Code Cramdown Provisions Nearly Causes Hawker Beechcraft Plan Confirmation to Skid Along the Runway
By Ben Feder on
Posted in Chapter 11
By nearly any measure, the Chapter 11 cases of Hawker Beechcraft and its affiliates (the “Debtors”) stand as a significant success. The cases began as a standalone reorganization predicated upon a restructuring support agreement (the “RSA”) among the Debtors’ senior lenders
Judge Clears Way For Sale of Texas Rangers
By Ben Feder on
Posted in Distressed M&A
The Texas Rangers’ lenders thought they had thrown a perfect strikeout pitch to prevent the confirmation of the Rangers’ proposed plan of reorganization. Instead, they now know how Hugh Casey felt.
The Texas Rangers recently filed for bankruptcy under chapter 11