Opt-Out Mechanism Enables Substantive Consolidation Under Chapter 11 Plan
Substantive consolidation is a procedure that can be implemented by a bankruptcy court to treat two or more debtors in bankruptcy as one entity by pooling the assets and claims of the entities, eliminating inter-company claims, and combining the creditors of the entities for purposes of voting and distribution on and under a Chapter 11 plan of reorganization.
June 06, 2018 at 02:45 PM
1 minute read
In re Republic Airways Holdings, |
Flying High With a Parent Guaranty
|Opt-Out Enabled Substantive Consolidation
|Opt-Out Provision Useful Tool in This Case
In re Owens Corning Andrew C. Kassner is the chairman and chief executive officer of Drinker Biddle & Reath, a national law firm with more than 635 lawyers in 12 offices. He chaired the corporate restructuring group for almost 20 years. He can be reached at [email protected] or 215-988-2554. Joseph N. Argentina Jr. is an associate in the firm's corporate restructuring practice group in the Philadelphia and Wilmington, Delaware, offices. He can be reached at [email protected] or 215-988-2541.
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