Willing to Share
Posted: Mon Sep 10, 2018 5:00 pm
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
Certified Bankruptcy Specialist Since 1997
Law Offices of David A. Tilem
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Glendale, CA 91206
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