Plan Confirmation

Delaware Court Holds Environmental Claim of Unknown Claimant Discharged by Chapter 11 Plan

Addressing unknown future claims in a chapter 11 bankruptcy involves two competing concerns: (a) providing a debtor with a fresh start and (b) providing an unwitting claimant with due process. These competing concerns clash when a debtor seeks to confirm… Read More ›

Fifth Circuit Holds that Chapter 11 Plan Does not “Impair” Claimants by Denying Make-Whole Rights and Contractual Interest

In Keystone Gas Gathering, L.L.C. v. Ad Hoc Committee of Unsecured Creditors of Ultra Resources, Incorporated (In re Ultra Petroleum Corporation), Case No. 17-20793, –F.3d–, 2019 WL 237365 (5th Cir. Jan. 17, 2019) (Oldham, J.), the Fifth Circuit Court of Appeals… Read More ›

Chapter 11 Plan Adequately Reserved Bankruptcy Rights Transferred to a Liquidating Trust

The United States Bankruptcy Court of the Northern District of Texas recently held that a confirmed chapter 11 plan of a liquidated company, R.L. Adkins Corp. (the “Corporation”), was not required to specifically preserve bankruptcy-created rights of the Corporation against… Read More ›

Third Circuit Rules Future Claimant Lacks Standing to Object to Plan

Following the saga of asbestos-related bankruptcy cases, the Third Circuit Court of Appeals recently held that Garlock Sealing Technologies, LLC lacked standing to object to the confirmation of the chapter 11 plan of W.R. Grace & Co., because Garlock could not demonstrate it… Read More ›

Fifth Circuit Opines On Chapter 11 Voting Process

The Fifth Circuit Court of Appeals recently determined the issue of whether a chapter 11 plan that artificially impairs a class of creditors for purposes of complying with section 1129(a)(10) of the Bankruptcy Code is confirmable.  See Western Real Estate Equities, L.L.C…. Read More ›

Third Circuit Clarifies How to Value Collateral

In In re Heritage Highgate, Inc., No. 11-1889 (3d Cir. March 20, 2012), the Third Circuit Court of Appeals recently determined how bankruptcy courts should value collateral retained by a chapter 11 debtor in order to establish the amount of the… Read More ›