Fifth Circuit Affirms Shareholder Veto of Chapter 11 Petition - Lexo...

06/01/18

Fifth Circuit Affirms Shareholder Veto of Chapter 11 Petition
Lexology
The debtor later encountered financial difficulties and filed a Chapter 11 petition in June 2017, without obtaining the consent of its shareholders, including B, for it feared “that its shareholders might nix the filing.” Id. at *1. In response to a ...