Deal Watch: Skadden, Sidley, Slaughter and S&C Lead Big Paper Deal, While Private Funds Grow Massive
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Corinne Ball, a partner at Jones Day, writes: In a recent opinion written by Judge Frank H. Easterbrook, the U.S. Court of Appeals for the Seventh Circuit reversed a decision by the U.S. Bankruptcy Court for the Northern District of Illinois ruling on the valuation of an airport terminal that served as collateral for certain United Airlines bonds. The Seventh Circuit held that the bankruptcy court's valuation was clearly erroneous, and determined that the bondholder appellants rather than being materially undersecured were fully secured. Additionally, the Seventh Circuit criticized the bankruptcy court's determination of a discount rate as an improper average of the rates proffered by the parties.
June 25, 2009 at 12:00 AM
1 minute read
Deal Watch: Skadden, Sidley, Slaughter and S&C Lead Big Paper Deal, While Private Funds Grow Massive
Presented by BigVoodoo
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