By Michael Friedman, Stephen Tetro and Sara Ghadiri ( August 25, 2017, 11:15 AM EDT) -- On Aug. 3, 2017, the Delaware district court in In re Nuverra Environmental Solutions Inc. upheld the Delaware bankruptcy court's confirmation of a so-called "gift" plan (i.e., a plan in which a secured creditor class "gifts" a portion of its plan distribution to a junior class), notwithstanding the recent U.S. Supreme Court decision in Czyzewski v. Jevic Holding Corp. that had cast doubt on the viability of such plans.[1]...
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