• Features

    Reports of the Demise of ‘Gifting’ Chapter 11 Plans Are An Exaggeration

    Timothy W. Hoffmann and Mark G. Douglas

    In Nuverra Environmental Solutions,, the U.S. District Court for the District of Delaware affirmed a bankruptcy court order confirming a non-consensual Chapter 11 plan that included “gifted” consideration from a senior secured creditor to fund unequal distributions to two separate classes of unsecured creditors.

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  • Features

    Eighth Circuit Rejects Ponzi Scheme Presumption to Protect Legitimate Loan Repayments

    Michael L. Cook

    The Eighth Circuit affirmed the lower courts’ dismissal of a bankruptcy trustee’s $250 million fraudulent transfer suit against two banks (the Banks), rejecting the so called “Ponzi scheme presumption” that “allows a creditor to by-pass the proof requirements of a fraudulent-transfer claim by showing that the debtor operated a Ponzi scheme and transferred assets ‘in furtherance of the scheme.’”

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