A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side.
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Second Circuit Bars “Gifting” Plans and Upholds Designation of Competitor’s Votes as “Not In Good Faith”
February 9, 2011
In a February 7, 2011 decision, DISH Network Corp. v. DBSD North America, Inc., Sprint Nextel Corp. v. DBSD North America, Inc., the Second Circuit Court of Appeals held that "gifting" plans violate the absolute priority rule and that a competitor's vote was appropriately designated for being "not in good faith" when its motive was to attempt to obtain a blocking position and control the bankruptcy.