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...However, the providers of the funds it now needs may take the bulk of the value in the company that emerges from bankruptcy, forcing existing creditors to be the source of the additional money if they want...
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...“I think the case is the most important corporate bankruptcy case to come to the court in at least the last 30 years,” said Anthony Casey, a law professor at University of Chicago....
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...In a trio of recent cases, appeals courts have questioned if the particular tools of American bankruptcy ultimately trample on the rights of victims who dissent from the negotiated bargain....
...Blurred lines make it much harder to form cohesive official creditor committees, creating tensions with other lenders (namely in the Paris Club but also India in the case of Sri Lanka), and makes the whole...
...That’s not something you see very often for unsecured creditors in Chapter 11 bankruptcy....
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...Still, Garcia remained wary of the Apollo-led group, which had hired a well-known bankruptcy lawyer, Tom Lauria of White & Case....
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...Yet even with the adjustment, the Official Creditor Committee (OCC) did not bless the deal....
...FTX is seeking court permission to appoint Galaxy, which it said was chosen in consultation with the official committee of unsecured creditors and after considering other potential investment advisers....
...This is partly, they argue, on the basis of a huge leap in estimates for the equal pay liability, from £121mn in 2021, that has never been fully explained either by the auditors or council officials and...
...and the Comparability of Treatment principle as agreed with its Official Creditor Committee (the “OCC”), as confirmed in the Government’s press statement of 26 October....
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...The separate trust payments are unsecured and ranked junior to Mallinckrodt’s loans and bonds in the creditor structure....
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...The world of blockbuster bankruptcies has been transfixed by the saga of David R Jones, the powerful judge in Houston who presided over many of the biggest Chapter 11 cases of the past decade, as DD’s Sujeet...
...One law professor told the FT that the Purdue case was the most important bankruptcy law matter to reach the Supreme Court in a generation....
...As a creditor to the company, Russia could try to force it into bankruptcy, but what would be the point?...
...A finance ministry committee known as CIRI that helps distressed companies has been taking part in talks over Casino’s negotiations with creditors....
...Marc Filippino Now, if you’re kind of following this from a long way away like I am, and you’re not necessarily a creditor either in China or in Hong Kong, what’s the real significance of Evergrande’s bankruptcy...
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