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9th Circ. Says Absolute Priority Applies To All Ch. 11s

By Carmen Germaine (January 28, 2016, 4:37 PM EST) -- In an "arcane but important question of first impression," the Ninth Circuit ruled Thursday that the absolute priority rule still applies to individual Chapter 11 reorganizations after the Bankruptcy Code was amended in 2005, overruling a previous decision from the circuit's Bankruptcy Appellate Panel....

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