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Courts are split when it comes to deciding whether the confirmation date or the filing date should be used to value a secured lender’s collateral in cramdown.
Manhattan district judge vacated confirmation of Purdue Pharma’s chapter 11 plan because the court had no statutory power to impose non-consensual releases of creditors’ direct claims against non-debtors.
The U.S. Solicitor General wants the Supreme Court to resolve a circuit split and decide whether the increase in U.S. Trustee fees violated the Bankruptcy Clause because it was not immediately applicable in two states with bankruptcy administrators.
