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Justices Reject Momentive Ch. 11 Make-Whole Payments Row

Law360 (June 18, 2018, 8:30 PM EDT) -- The U.S. Supreme Court on Monday denied a last-ditch attempt by creditors of Momentive Performance Materials Inc. to collect on $200 million in fees tied to bonds repaid in bankruptcy, ignoring their argument that allowing the silicone manufacturer to keep the money contradicts “bedrock principles” of bankruptcy law.

BOKF NA and Wilmington Trust NA had submitted nearly identical certiorari petitions in March, following an October 2017 ruling by the Second Circuit that the two bond trustees were not entitled to “make-whole” payments after Momentive refinanced $1.3...
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