Nuverra Creditor Can Pursue Recovery Alone, 3rd Circ. Told
Law360 (November 17, 2020, 10:04 PM EST) -- A Nuverra Environmental Solutions Inc. noteholder who alleged the company's Chapter 11 plan unfairly shorted a certain class of creditors told the Third Circuit on Tuesday that bankruptcy rules don't prevent him from individually pursuing recovery.
During an oral argument via Zoom, attorney Clay J. Pierce told a three-judge panel that the Bankruptcy Code provision requiring a plan to treat all members of a creditor class equally shouldn't apply to his client David Hargreaves, because none of the other creditors in Hargreaves' class pursued a challenge to the plan. The other class members effectively waived their appellant rights, Pierce told the...
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