The 2nd Circ. Stance On DBSD
DBSD, a nonoperating satellite communications company, and its second-lien noteholders made clear their intent to cram down a plan of reorganization (the plan) on DBSD’s first-lien lenders. A competitor of DBSD bought the first-lien debt and then found itself sanctioned for seeking to use its acquired position to effect a takeover of DBSD.
The competitor appealed the plan confirmation order, and...
To view the full article, register now.