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Concurrent Rights Offerings by Chapter 11 Debtors

A look at the Section 1145 exemption in relation to a major case.

12 minute read December 20, 2013 at 09:53 AM
By
Michael H. Torkin And Chiansan Ma
Concurrent Rights Offerings by Chapter 11 Debtors

Eastman Kodak Company conducted the first-ever parallel rights offerings in connection with its recently consummated Chapter 11 plan of reorganization ' one conducted in compliance with Section 1145 of the Bankruptcy Code and the other with Rule 506 of Regulation D under Section 4(a)(2) of the Securities Act of 1933 (the Securities Act).

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