Breitburn Energy Partners LP fka BBEPQ

[Uranium]

Even if the judge should order an equity committee, ultimately "Cramdown" would very likely kill any chance of the units, and probably preferred's too, of getting anything.

By filing a chapter 11 petition, the debtor seizes the initiative in proposing a reorganization plan – which is to provide how soon, in what amount, and in what manner creditors’ claims are paid.

But a debtor does not necessarily get its way. A class of creditors who are not getting paid in full may reject the plan, which will prevent confirmation on a consensual basis. Ah, but the debtor may, by fulfilling additional requirements, “cram down” the plan on those creditors and win confirmation.