Bankruptcy Practice

Third Circuit Sides With Creditors in EFIH Make-Whole Dispute

, New York Law Journal


In their Bankruptcy Practice column, John J. Rapisardi and Joseph Zujkowski write: At the end of last year, the Third Circuit added to several recent decisions addressing whether a creditor was entitled to payment of a "make whole" premium in connection with a Chapter 11 case. The opinion is the most creditor-friendly decision issued to date on this issue, as the court found that the refinancing of certain first and second lien notes after the Chapter 11 cases were commenced triggered payment of a "make whole" premium.

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