Eighth Circuit Holds A Reorganization Plan May Treat Creditors More Favorably in Exchange For “Valuable New Commitments” Without Violating Section 1123(a)(4)
ABI
JANUARY 16, 2020
By: Morgan C. Liptak. St. John’s University School of Law. American Bankruptcy Institute Law Review, Staff Member. Under section 1123(a)(4) of title 11 of the United States Code (the “Bankruptcy Code”), a reorganization plan should provide equal treatment for each claim of a particular class, unless the claim holder specifically agrees to less favorable treatment. [1] In In re Peabody Energy Corporation , the United States Court of Appeals for the Eighth Circuit held that “consideration for valu
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