In re Genco Shipping & Trading Ltd.

Ruling: 
Restructuring support agreement was a prepackaged plan which could be assumed as authorized by the Bankruptcy Code and as a valid exercise of debtor's business judgment.
Issue: 
Could debtors assume restructuring support agreement that formed the basis of the debtors' prepackaged plan of reorganization and was an agreement among the debtors and the majority of their creditors that embodied a settlement with the debtors' unsecured note holders, while leaving unimpaired the debtors' unsecured trade creditors and providing for some recovery to equity holders?
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Commercial case opionion summary, case decided on May 16,2014, LexisNexis #0614-084