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§ 1129(b)(2)(B)

Dish Network Corp. v. DSD N. Am. Inc. (In re DBSD N. Am.)

Feb
07
2011
Ruling
Creditor that was an indirect competitor of the debtor and bought a blocking position in a class of claims in order to obtain the debtor's telecommunications spectrum rights could be treated as acting in bad faith.
Procedural posture

In a Chapter 11 case, the bankruptcy court confirmed a reorganization plan for appellee debtor over the objections of appellant creditors. The United States District Court for the Southern District of New York affirmed. The creditors appealed.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on February 07, 2011 , LexisNexis #0211-130
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In re Gelin

Sep
29
2010
Ruling
Individual chapter 11 debtors could not cram down without consent of mortgage creditors or payment in full due to continued operation of absolute priority rule.
Procedural posture

Before the court was debtors' cram down motion pursuant to 11 U.S.C.S. § 1129(b), as well as debtors' Second Plan of Reorganization. Other related motions were also before the court seeking to cram down the Plan on other non-objecting creditor classes. A creditor objected to confirmation based on the absolute priority rule.

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Consumer opinion summary, case decided on September 29, 2010 , LexisNexis #1010-126
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In re Shat

Feb
22
2010
Ruling
The absolute priority rule does not apply to individual chapter 11 debtors post-BAPCPA.
Procedural posture

Debtors' chapter 11 plan was before the court for confirmation.

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Consumer opinion summary, case decided on February 22, 2010 , LexisNexis #0510-063
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In re Cypresswood Land Partners I

Jan
20
2009
Ruling
Chapter 11 plan confirmed with sua sponte modifications by bankruptcy court.
Procedural posture

Debtor moved for confirmation of its chapter 11 plan. The issues were the proper meaning of a "party-in-interest" under 11 U.S.C.S. § 1109(b), whether a non-voting class could be deemed to have accepted a chapter 11 plan, and whether and to what extent the "new value exception" relating to 11 U.S.C.S. § 1129(b)(2)(B)(ii) should be recognized.

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Commercial opinion summary, case decided on January 20, 2009 , LexisNexis #0309-018
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In re TSIC Inc.

Aug
18
2008
Ruling
Settlement between unsecured creditors' committee and purchaser of assets did not violate absolute priority rule and was approved.
Procedural posture

The United States Trustee objected to a settlement, proposed pursuant to Fed. R. Bankr. P. 9019 and 11 U.S.C.S. § 105(a), between the official committee of unsecured creditors for a chapter 11 debtor and the potential and ultimately approved purchaser of all of the debtor's assets.

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Commercial opinion summary, case decided on August 18, 2008 , LexisNexis #0908-089
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In re Dorsey Trailer Co.

Nov
20
2007
Ruling
Plan did not violate absolute priority rule where no payments were to be made to claims junior to unsecured claims.
Procedural posture

A debtor's chapter 11 case came before the court for confirmation of its amended plan of liquidation. A creditor objected, asserting that the plan violated the absolute priority rule of 11 U.S.C. § 1129(b)(2)(B) and that it violated the good faith clause in a settlement agreement between the creditor and a creditor bank.

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Commercial opinion summary, case decided on November 20, 2007 , LexisNexis #0108-032
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In re Armstrong World Indus.

Dec
29
2005
Ruling
Debtor corporation was denied confirmation of its chapter 11 reorganization plan because the plan's distribution of warrants to equity interest holders over the objection of a class of unsecured creditors violated the absolute priority rule.
Procedural posture

Appellant debtor corporation and two of its subsidiaries filed a chapter 11 petition for bankruptcy. An unsecured creditors committee filed objections to the bankruptcy court's proposed findings and conclusions with the district court. The district court denied confirmation of the bankruptcy reorganization plan. The debtor corporation appealed.

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Court :
Judge or Jurisdiction information not available
opinion summary, case decided on December 29, 2005 , LexisNexis #0106-125
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