Odds Rise for a Supreme Court Ruling on Valuation Standard for Chapter 11 Cramdown
Professors and former judges urge Supreme Court to review Sunnyslope.
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Circuits Split on Appellate Standard for Finding of ‘Indubitable Equivalent’
Equitable defenses can bar payment of interest on a fully secured claim, Fourth Circuit holds.
Judge Name - Do not use it.
Allyson Kay Duncan
Debtor Warns Supreme Court to Avoid Sunnyslope and Another Valuation Controversy
There is no circuit split interpreting the Rash mandate to employ replacement value, debtor argues.
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Supreme Court
Auditor Values Oi Assets at $12.9 Billion in Brazil Bankruptcy Case
A financial auditor said yesterday that Oi SA's assets are worth 40.8 billion reais ($12.9 billion) but that could drop by more than a half if the indebted Brazilian phone company is forced to sell them in a hurry, Reuters reported. Auditor Ernst & Young LLP estimated the so-called forced liquidation value of assets held by Oi and subsidiaries included in its bankruptcy protection process at 17.9 billion reais, according to a securities filing. That would cover less than 30 percent of the 65.4 billion reais worth of debt under renegotiation. Oi on Wednesday submitted a debt restructuring plan that would limit the debt-for-equity swap demanded by creditors to 25 percent of its capital, far below the 88 percent proposed by a group of bondholders in August. Read more.
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No New Bankruptcy Cases Have Been Added to Supreme Court Docket — Not Yet, at Least
Several cases are in the running for Supreme Court review this term or next.
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Supreme Court