The Life and Times of the Non-Absolute Priority Rule

The absolute priority rule is supposed to provide some measure of order and certainty in the world of Chapter 11. But bankruptcy practitioners know that the mere inclusion of the word "absolute" in the rule's name does not make it so.

29 minute read July 28, 2009 at 09:14 AM
By
Michael J. Sage and Steven B. Smith
The Life and Times of the Non-Absolute Priority Rule

What better way to strike fear into the hearts and minds of attorneys than to style a particular rule as “absolute?”

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