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I am looking for a general discussion regarding current law to insert into a confirmation brief on the new value exception to the absolute priority rule. Is anyone willing to share a few paragraphs? In my case, insiders are contributing (1) cash (2) needed to meet Effective Date obligations (3) which is non-trivial. No creditors have objected, but several classes failed to cast a vote.....including the class of unsecured creditors. Unfortunately, there is no practical way for me to induce that one unsecured creditor to vote.
David A. Tilem
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