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The term (sometimes used in the phrase cram-down deal) has also gained currency to denote informally any transaction where existing investors (debt or equity) are forced by circumstance to accept an unappealing transaction, such as an expensive financing, a debt transaction that subordinates them, a dilutive equity raising, or an acquisition at ...
Cram down is barred if a junior interest (old equity) holder under a proposed Chapter 11 plan receives or retains property "on account of" such junior interest. 11 U.S.C. 1129(b)(2)(B). The Court, considering whether the language of the statute implied a new value exception, found "on account of" not to mean "in exchange for" or "in ...
U.S. District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th U.S. Circuit Court of Appeals revived it, prompting Facebook's appeal to the Supreme Court.
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Cram down [ edit ] H.R. 1106 contains a provision, frequently called " cram down ," which would allow judges to modify the rights of a mortgage holder, whether that mortgage holder is a primary lender or an investor in a mortgage-backed security , with regard to delinquent mortgages on primary residences if the borrower has entered Chapter 13 ...
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Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
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