Out-of-the-Money Junior Creditors Cannot Participate in the Bankruptcy Process
By EsqSocial Corporation 08/06/21
Subordination agreements are generally enforced in accordance with applicable non-bankruptcy law in bankruptcy cases. The decision in In re Fencepost Productions, Inc., No. 19-41542, 2021 WL 1259691 (Bankr. D. Kan. Mar. 31, 2021) recognizes limits to this rule....
By: Morgan Lewis