The 2nd Circ. Stance On DBSD

Law360, New York (October 26, 2010, 12:00 PM EDT) -- The Chapter 11 case of DBSD North America Inc., f/k/a ICO North America, has been marked by aggressive tactics and extreme positions from its commencement.

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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.