Proposals To Reform Ch. 11 Target Secured Creditors
Law360, New York (December 18, 2014, 1:22 PM EST) -- On Dec. 8, the American Bankruptcy Institute ("ABI") Commission to Study the Reform of Chapter 11 issued a 400-page report recommending wide-ranging changes to Chapter 11 of the Bankruptcy Code. The recommendations in the report are not tweaks to the Bankruptcy Code, but instead represent a drastic departure from what are today considered fundamental principles of bankruptcy law.
If enacted, the proposals would significantly impair the rights of secured creditors and materially increase the leverage of debtors and out-of-the-money stakeholders by, among other things:
Forcing senior creditors to share the value of their collateral with out-of-the money stakeholders in circumstances where...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!