Making Sense Of Bankruptcy Make-Wholes, No-Calls

Law360, New York (December 7, 2010, 1:45 PM EST) -- A recent decision in the Chemtura Chapter 11 proceedings[1] adds to conflicting cases in the Southern District of New York dealing with the issue of whether creditors whose debt is repaid in bankruptcy are entitled to receive so-called “make-whole” amounts or damages for breach of no-call provisions.

The court ultimately sided with cases recognizing creditors’ right to be compensated for the repayment during bankruptcy of their debts prior to their original maturity, giving great weight in its analysis to the fact that the Chemtura debtors were...
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