Horizontal Gifting Upheld in Chapter 11 Plan in the Third Circuit - ...

Horizontal Gifting Upheld in Chapter 11 Plan in the Third Circuit
Lexology
21, 2018), a Delaware district court upheld a bankruptcy court's ruling that the secured creditors' “gift” of cash and stock to holders of unsecured claims pursuant to a Chapter 11 plan did not violate the confirmation standards for approving a plan ...