Real Estate/Development
Oct. 2, 1999
Equity security holders cannot contribute new value in bankruptcy plan
The U.S. Supreme Court held that prepetition equity holders may not, over the objection of senior impaired creditors, make a capital contribution to a reorganization plan in exchange for an ownership interest in the reorganized entity, when the plan does not allow any other entity to make a similar contribution.
The U.S. Supreme Court held that prepetition equity holders may not, over the objection of senior impaired creditors, make a capital contribution to a reorganization plan in exchange for an ownership interest in the reorganized entity, when the plan does not allow any other entity to make a similar contribution.
203 North LaSalle Street Partnership was a Chapter 11 bankruptcy debtor. The partnership's secured creditor was Bank of America National Trust and Savings Associati...
203 North LaSalle Street Partnership was a Chapter 11 bankruptcy debtor. The partnership's secured creditor was Bank of America National Trust and Savings Associati...
To continue reading, please subscribe.
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In