'Unequivocal And Specific' Claim Preservation

Law360, New York (July 11, 2011, 12:45 PM EDT) -- The United States Bankruptcy Court for the Northern District of Illinois has issued an opinion that clarifies the requirements for preserving claims in a Chapter 11 plan pursuant to 11 U.S.C. § 1123(b)(3), in light of two prior opinions from the United States Court of Appeals for the Seventh Circuit. The decision also adds to the body of case law developing across other circuits.

The Seventh Circuit has published two opinions that provided prior guidance on how a Chapter 11 plan can properly preserve causes of...
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