From left: Elisa Hyder and Rudolph J. DiMassa Jr. of Duane Morris. Introduction
In In re Tribune, 972 F.3d 228 (3d Cir. 2020), the U.S. Court of Appeals for the Third Circuit affirmed the confirmation of Tribune Co.'s Chapter 11 plan. In so doing, the court identified certain principles to be applied when determining whether a plan unfairly discriminates against a dissenting class of creditors. In particular, the court established a new eight-step analysis to be applied in "cramming down" such a dissenting class pursuant to Section 1129(b)(1) of the Bankruptcy Code.Third Circuit Establishes New Analysis for Cramdown Cases
In In re Tribune, 972 F.3d 228 (3d Cir. 2020), the U.S. Court of Appeals for the Third Circuit affirmed the confirmation of Tribune Co.'s Chapter 11 plan. In so doing, the court identified certain principles to be applied when determining whether a plan unfairly discriminates against a dissenting class of creditors.
February 11, 2021 at 12:14 PM
8 minute read
From left: Elisa Hyder and Rudolph J. DiMassa Jr. of Duane Morris.
Introduction
In In re Tribune, 972 F.3d 228 (3d Cir. 2020), the U.S. Court of Appeals for the Third Circuit affirmed the confirmation of Tribune Co.'s Chapter 11 plan. In so doing, the court identified certain principles to be applied when determining whether a plan unfairly discriminates against a dissenting class of creditors. In particular, the court established a new eight-step analysis to be applied in "cramming down" such a dissenting class pursuant to Section 1129(b)(1) of the Bankruptcy Code.
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