Cramdown Interest Rates in Chapter 11

Recently, the United States Bankruptcy Court for the Southern District of New York held, among other things, that debtors could cram down their plan of reorganization on their secured lenders under section 1129(b)(2)(A)(i) of the Bankruptcy Code by providing them with replacement notes paying a below-market interest rate using a formula approach to calculate the applicable interest rate. This article analysis this decision.

13 minute read February 28, 2015 at 11:00 PM
By
Robert W. Dremluk
Cramdown Interest Rates in Chapter 11

In Till v. SCS Credit Corp.

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