Case Study: In Re RLD

Law360, New York (August 30, 2012, 3:48 PM EDT) -- Recently, in In re RLD Inc., the Bankruptcy Court for the Northern District of California exercised the extraordinary remedy of designating the vote of the senior secured creditor pursuant to section 1126(e) of the Bankruptcy Code.[1]

Facts

RLD Inc. filed its Chapter 11 bankruptcy case on Nov. 7, 2011. Prior to that, on Jan. 25, 2011, Lorraine Ring filed a Chapter 11 petition. Both the RLD and Ring debtors were co-obligors on a promissory note in the original principal amount of $10.5 million in favor of...
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