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maekuz

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maekuz

Re: rockie101 post# 329204

Friday, 08/19/2011 7:48:17 AM

Friday, August 19, 2011 7:48:17 AM

Post# of 732169
According to this paper the absolute priority rule has been violated in 75% of all bankruptcy cases. But be aware of the time frame: The article adresses the 70s - 90s. Apparently there has been a significant ruling by the Court of Appeals, see here, and my understanding is that violations of the APR must have been reduced since that ruling. But they do happen as they may speed up a reorganization.

Please be advised that the above stated is my opinion only and that i am by no means an expert regarding US law.

EDIT:

Disclaimer - I do own wamuq (57%) and wampq (43%).

"You should have settled with WMI in spring 2009 and you should do it now. Things could get a lot more difficult for you."

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