Seventh Circuit mandates an “auction process” in “new value” chapter...

Seventh Circuit mandates an “auction process” in “new value” chapter 11 plans
Lexology (registration)
As such, the Castleton decision strengthens a secured lender's ability to contest undervalued, “new value” chapter 11 plans, while creating additional roadblocks for debtors seeking cramdown over an objecting secured lender. As discussed below, these ...