New Jersey Court Rules That Collection Letter With “Please Call” Violated FDCPA: Collection letter contained the statement “If we can answer any questions, or if you feel you do not owe this amount, please call us toll free . .…
Plan Violated Absolute Priority Rule by Giving Debtor’s Equity Holder Exclusive Opportunity
In a case in the Eastern District of Michigan a debtor proposed a Chapter 11 plan that purported to give the debtor’s equity holder a 100% interest in the reorganized debtor in exchange for waiving his prepetition claim for $1.35…
Absolute Priority Rule (Reprint)
On May 3, 1999 the United States Supreme Court issued its decision in Bank of America National Trust and Savings Association v. 203 North Lasalle Street Partnership. While expressly reserving judgment on whether the New Value Exception still exists, the…