Charter, Spectrum Cases Poised To Set Precedent

Law360 (May 1, 2009, 12:00 AM EDT) -- If the debtors in the Charter Communications Inc. and Spectrum Brands Inc. Chapter 11 cases prove successful in reinstating their senior secured debt at prebankruptcy rates, such restructuring deals could become more popular — to the detriment of prepetition lenders, according to several bankruptcy attorneys.

Because no formal case law exists regarding Chapter 11 debt reinstatement, all eyes are focused on the outcome of both Charter Communications Inc. and Spectrum Brands Inc. bids to reinstate prebankruptcy debt as post-petition debt through plans that allow the debtors...
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.