Creditor’s Failure to Obtain Stay of Confirmation Order Moots Appeal
- Topics:
- Bankruptcies
- Source:
- Jones, Day, Reavis & Pogue
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Overview: This article focuses on creditor’s failure to obtain stay of confirmation order moots appeal, and states that the fourth circuit ruled that when a creditor fails to obtain a stay pending its appeal of an order confirming a chapter 11 plan of reorganization, the appeal will be moot if the plan is substantially consummated before the appellate court hears the case. One section of the article explains that according to a Delaware district court, a termination fee payable to a prospective purchaser in the event the chapter 11 debtor was unable to confirm a plan effecting the sale is not an improper intrusion on the plan confirmation process. Read the article to get the details of the act applicability in bankcruptcy situations.
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Format: PDF | Size: 743KB | Date: May 2002 | Pages: 12
