7th Circ. Reaffirms Absolute Priority Rule In Ch. 11

By Maria Chutchian (February 15, 2013, 8:48 PM EST) -- The Seventh Circuit on Thursday held that a bankrupt entity's reorganization plan that offers new value from insider investors cannot get around the absolute priority rule that entitles creditors to full payment before equity investors receive anything, becoming the first circuit to tackle the issue in more than a decade....

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