Ultra Petroleum Redux: Make-Whole Provisions and Solvent-Debtor Exception Remain Intact in the Southern District of Texas

Introduction Since the March 2019 CRR article on the Ultra Petroleum case, entitled Fifth Circuit Holds that Chapter 11 Plan Does Not “Impair” Claimants by Denying Make-Whole Rights and Contractual Interest, a fair amount of activity has occurred in the case.  While the Fifth Circuit’s original opinion, Ultra Petroleum Corp. v. Ad Hoc Comm. of Unsecured […]

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Fifth Circuit Opines On Chapter 11 Voting Process

The Fifth Circuit Court of Appeals recently determined the issue of whether a chapter 11 plan that artificially impairs a class of creditors for purposes of complying with section 1129(a)(10) of the Bankruptcy Code is confirmable.  See Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village at Camp Bowie I), No. […]

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