Block on Trump's Asylum Ban Upheld by Supreme Court
In creditors' appeal from the bankruptcy court's confirmation of the debtor's Chapter 11 liquidation plan, the order is affirmed where: 1) 11 U.S.C. section 1123(a)(4) only required equal treatment of members within the same class; 2) the plan made all the disclosures regarding the Equity Subcommittee required by 11 U.S.C. section 1129(a)(5)(A)(i); and 3) because a class of creditors voted in favor of the plan, the absolute priority rule unambiguously did not apply to those claims.
Filed December 14, 2009
Opinion by Judge Jones