Congress didn’t repeal the so-called absolute priority rule for individuals in Chapter 11 when it amended the Bankruptcy Code in 2005, a district judge in Philadelphia ruled. The issue has divided ...

In the current economy, many Chapter 11 cases are used as a vehicle to sell estate assets free and clear of liens and other claims. By obtaining court approval, the assets can often be sold for a ...

The court of appeals affirmed a bankruptcy court order. The court held that the absolute priority rule continues to apply in individual chapter 11 reorganizations after the amendments to the ...