Second Circuit Rules on Chapter 11 Cram-Down, Make-Whole, and Subord...

Second Circuit Rules on Chapter 11 Cram-Down, Make-Whole, and Subordination Issues
Lexology
The Situation: In In re MPM Silicones, L.L.C., secured noteholders argued that replacement notes distributed to them under a cram-down chapter 11 plan should bear market-rate interest rather than the lower formula rate proposed in the plan and that ...