Sentences with phrase «substantive consolidation of»

In broad strokes, the plan called for the substantive consolidation of Adeptus's 140 different debtor entities for plan, voting, and distribution purposes; Deerfield's contribution to equity holders of a portion of its recoveries on its significant deficiency claims from a litigation trust; and the vesting of the reorganized entities» equity in Deerfield in exchange for its secured and DIP debt.

The Court of Appeal dismissed the moving parties» arguments and noted that Justice Newbould found that a pro rata allocation did not constitute a substantive consolidation of the Nortel debtors» estates.

Not exact matches

CCRL promotes the consolidation of research interests and expertise to create a new substantive research focus within the University

EVA bottoms on an assumption of a substantive consolidation between the company and short run OPMIs.

Indeed, TAVF rejects, as a tool of analysis, any system which assumes that there exists a substantive consolidation between the interests of the corporation, itself, and the interests of those OPMIs who emphasize short run prices in securities markets.

Moreover, it was argued that Justice Newbould erred in considering an inappropriately low threshold for the application of substantive consolidation.

However, the good news is that while such «substantive consolidation» of non-debtors with debtors is possible, it is generally unlikely.

Despite the global settlement, a handful of other creditors and the US Trustee objected to the plan's confirmation arguing, among other things, that substantive consolidation and Deerfield's sharing plan proceeds with equity violates Bankruptcy Code priorities and the Supreme Court's recent decision in Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973, 197 L. Ed.

After canvassing the leading substantive - consolidation standards and cases, Judge Jernigan determined that consolidation is appropriate under any test; her decision turned on a litany of facts and factors, including that (i) the company's «nerve center» is its Texas headquarters and all payroll for employees is effectuated from there, (ii) the company's centralized cash - management system and three bank accounts, (iii) all debtor entities were controlled by common officers and directors, (iv) the existence of substantial intercompany claims, (v) credible testimony demonstrated that preparing individual schedules was extraordinarily difficult and required numerous amendments, (vi) a substantial amount of creditors treated the debtors as a single unit, and (vii) that credible counsel had determined that the primary assets of many debtors — D&O litigation claims — are jointly owned by the debtors.

We have an outstanding record of success in pursuing or defending against litigation in virtually every aspect of distressed investing, including breach of fiduciary claims, preference and fraudulent transfer litigation, subordination disputes, intercreditor fights, and litigation over substantive consolidation and enterprise or asset valuation.