A decision from the U.S. District Court for the Southern District of New York should spark the attention of secured lenders whose borrowers hold commercial lessee security deposits.
If any class of creditors under a chapter 11 plan is "impaired," the Bankruptcy Code provides that the plan can be confirmed by the bankruptcy court only if at least one impaired class.
Massachusetts Bankruptcy Court Adopts Per Plan Approach to Impaired Class Acceptance Requirement for Confirmation of Joint Chapter 11 Plan lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
In an Amended Decision and Order, dated December 3, 2022, in EarthLink, LLC v. Charter Commc’ns Operating, LLC., Index No. 654332/2020, Justice Andrea Masley granted in part and denied.