'Circus & Eldorado' Court Rules on 'Bad Faith' for Vote Designation

, New York Law Journal

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Stroock & Stroock & Lavan's Jayme T. Goldstein, Kenneth Pasquale and Jonathan Canfield write: Given the severe implications of such extraordinary relief, courts have almost universally recognized that depriving creditors of the right to vote on a plan of reorganization is a drastic remedy. A recent ruling by the U.S. Bankruptcy Court for the District of Nevada is just the latest in a series of decisions in which a court found that, given the facts and circumstances it was confronted with, designation was nevertheless warranted.

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