3rd Circ. Upholds Oil Co. Investor's Ch. 11 Recovery Denial

Law360 (January 6, 2021, 8:30 PM EST) -- The Third Circuit on Wednesday rejected as "equitably moot" a noteholder's appeal for a payout from an already confirmed plan for a bankrupt oilfield environmental company, after finding that the only options would either scramble the plan or treat other creditors in the same class unfairly.

U.S. Circuit Judge Kent A. Jordan, writing for a partly divided three-judge panel in a nonprecedential decision, found that an individual $450,000 payout to Nuverra Environmental Solutions Inc. investor David Hargreaves — but not others in the same, $40.5 million class of unsecured noteholders — would be barred under Nuverra's plan, confirmed in July 2017....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!