Ad Hoc Committee of Non-Consenting Creditors v. Peabody Energy Corp., No. 18-1302 (8th Cir. 2019)
Annotate this CaseThe Bankruptcy Appellate Panel affirmed the district court's dismissal of the Committee's appeal of the bankruptcy court's confirmation of debtors' voluntary reorganization plan. The panel held that the bankruptcy court did not err in determining that debtors' plan satisfied the equal-treatment rule and was proposed in good faith. In this case, the right to participate in the private placement was not "treatment for" a claim under 11 U.S.C. 1123(a)(4); the right to participate in the private placement was consideration for valuable new commitments; and thus the plan did not violate the equal-treatment rule. The panel also held that, despite any reservation the panel might have regarding the good faith question, it has not been left with a definite and firm conviction that a mistake has been committed.
Court Description: Melloy, Author, with Shepherd and Grasz, Circuit Judges] Civil case - Bankruptcy. The bankruptcy court did not err in finding that the debtors' reorganization plan satisfied the equal-treatment requirement of 11 U.S.C. Sec. 1123(a)(4) and that the debtors had proposed the plan in good faith.
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