Bankruptcy Law Case Summary – Zachary v. California Bank & Trust

On behalf of Furr & Cohen, P.A. posted in News on Friday, May 6, 2016.

In a bankruptcy action, the bankruptcy court’s order sustaining California Bank’s objection to the debtor’s reorganization plan is affirmed where the absolute priority rule contained in 11 U.S.C. section 1129(b)(2)(B)(ii) continues to apply in individual chapter 11 reorganizations following the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.