Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

In re WestPoint Stevens, Inc.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Argued: November 14, 2008

Before: MINER, HALL, and LIVINGSTON, Circuit Judges.*fn1

In this bankruptcy proceeding, secured creditor, Aretex LLC (“Aretex”), and its affiliates, WestPoint International, Inc. (“WestPoint International”) and WestPoint Home, Inc. (“WestPoint Home”), collectively, “Aretex Group,” and Wilmington Trust Co. (“Wilmington Trust”), the administrative agent for the junior secured creditors, appellants-cross-appellees in this matter, appeal principally from orders entered on November 16, 2005, and October 9, 2007, in the United States District Court for the Southern District of New York (Swain, J.). The District Court reversed the orders of the Bankruptcy Court (Drain, J.) permitting (1) the distribution of unregistered securities and subscription rights to satisfy the liens held by senior secured creditors and (2) the distribution of the remaining subscription rights to junior secured creditors. Objecting senior secured creditors, Contrarian Funds, LLC (“Contrarian Funds”), Satellite Senior Income Fund, LLC (“Satellite Fund”), CP Capital Investments, LLC (“Capital Investments”), Wayland Distressed Opportunities Fund 1-B, LLC (“Distressed Funds I”), Wayland Distressed Opportunities Fund 1-C, LLC (“Distressed Funds II”), collectively, the “Contrarians,” and Beal Bank, S.S.B. (“Beal Bank”), the administrative agent and collateral trustee for the senior secured creditors, appellees-cross-appellants in this matter, cross-appeal, inter alia, from the orders of the District Court to the extent that they affirm the Bankruptcy Court’s order of adequate protection payments to the junior secured creditors.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
GlobeSt. Women of Influence (WOI) 2024
July 22, 2024 - July 24, 2024
Lake Tahoe, CA

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.


Learn More
New York Legal Awards 2024
September 05, 2024
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.


Learn More
African Legal Awards 2024
September 06, 2024
Johannesburg

The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.


Learn More
Go to Events Go to Webcasts
Paralegal/Legal Assistant

Eichen Crutchlow Zaslow LLP is a highly regarded legal firm based in Edison, New Jersey. The firm specializes in medical malpractice and per...


Apply Now ›
Associate Professor or Professor of Law

The George Washington University Law School invites applications for multiple tenure-track or tenured faculty appointments, at the rank of A...


Apply Now ›
Employment Attorneys Senior Counsel - Los Angeles, Ventura, California

Gordon Rees Scully Mansukhani has an immediate opening for experienced Employment Attorneys in its Los Angeles and Ventura offices. Candida...


Apply Now ›
Go to Lawjobs
Lawyers of Distinction
06/27/2024
The American Lawyer

Professional Announcement


View Announcement ›
SMGQ Law
06/21/2024
Daily Business Review

Full Page Announcement


View Announcement ›
Blume Forte Fried Zerres & Molinari
06/14/2024
New Jersey Law Journal

Professional Announcement


View Announcement ›
Go to Professional Announcements