Cram Up Under Chapter 11: Overcoming Objections From Dissenting Secured Lenders
Herrick Restructuring and Finance Litigation co-chair Stephen B. Selbst, along with partner Steven B. Smith, presented at a Strafford Live Webinar titled "Cram Up Under Chapter 11: Overcoming Objections From Dissenting Secured Lenders."
This CLE course instructed bankruptcy attorneys about creating and opposing "cram up" Chapter 11 plans under which the plan is accepted by junior creditors and then crammed up on senior objecting creditors.
Other discussion topics included:
- What are the best ways to plan for cram up before filing?
- What covenants may make it impossible to effect cram up?
- What constitutes the "indubitable equivalent" of a creditor's interests?