November 20, 2014
And what a fascinating few months it’s been: Judge Drain delivered a highly publicized bench ruling on the confirmation of Momentive Performance Materials’ plan of reorganization on August 26, giving us a whole host of interesting issues to analyze on the treatment of senior secured debt. If you haven’t read it already, please enjoy our in-depth series in the Momentous Decision in Momentive Performance Materials section of this Third Quarter Review, where we discuss Judge Drain’s rulings on, among other things, cramdown, make - wholes, and contractual subordination.
We’ve also continued our market leading coverage of Stern and its progeny in our Stern Files. As we await the Supreme Court’s decision in Wellness Int’l Network v. Sharif, the circuit courts have been providing convenient summaries of their split, and we’ve duly blogged about them on the Weil Bankruptcy Blog.
Valuation issues have made a strong comeback recently. Our ever-expanding Slice of the Pie section has an interesting two-part series on the valuation questions coming out of In re Genco Shipping & Trading Limited, which should be particularly relevant to those of you involved in shipping restructuring cases, or simply those looking forward to their annual serving of pumpkin pie!
We have a section of this Third Quarter Review dedicated to interesting decisions that have come down on Releases in Chapter 11 Plans, as well as an analysis of recent decisions involving the Federal Deposit Insurance Corporation in our The FDIC Goes to Court section.
Lastly, don’t forget to check out the Best of the Rest section of this Third Quarter Review to read interesting blog posts that weren’t part of larger themes this quarter but which are otherwise worthy of note.
Our next publication will be our Annual Review, a retrospective on an enthralling 2014.