A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Solutia Bankruptcy Court Decision Limits Secured Creditors’ Recoveries
November 28, 2007 Full PDF
In a recent decision in a claims objection proceeding in the Solutia chapter 11 case, the Bankruptcy Court for the Southern District of New York set clear limits on the allowance of secured claims. Specifically, the Court reaffirmed the disallowance of unamortized OID in the bankruptcy context, ruled that an attempt by noteholders to de-accelerate debt that had become due automatically upon the filing of Solutia's chapter 11 petition violated the automatic stay, and declined to follow the holding in In re Calpine Corp. that allowed noteholders to recover for "dashed expectations" where the debtor sought to repay debt prior to applicable call dates.