A Lesson On Good Faith Artificial Impairment

Law360, New York (December 12, 2011, 10:12 AM EST) -- One of the most frequent questions asked by a secured creditor or potential buyer of a secured note is whether a debtor, through a Chapter 11 plan, can modify the terms of the note. The answer always includes recitation of the plan confirmation requirements of section 1129, such as the best interest test, the absolute priority rule, etc. One of the plan confirmation requirements, having an impaired class which votes, not counting insiders, for the plan (1129(a)(10)) just may have gotten easier to satisfy.

To satisfy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.