Unlike chapters 12 and 13, the bankruptcy court in Subchapter V has discretion in selecting the commitment period for confirmation of a cramdown plan.
Federal preemption allowed rejection of the defined benefit pension plan for Puerto Rico’s teachers.
Redesignation under the SBRA might become a hot topic once again when (if) Congress raises the cap back to $7.5 million.
At oral argument, the justices seemed more concerned about the remedy to give if the dual fee system was unconstitutional.
Curtailing equitable mootness will benefit the bankruptcy community by fostering appellate decisions that clarify the standards for confirmation of chapter 11 plans.
Unsuccessfully attempting to punch homes in Mirant, FERC emerged from the Fifth Circuit with no power to stop bankruptcy courts from rejecting contracts otherwise within FERC’s jurisdiction.