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Case study: In re Clearpoint Chemicals, LLC

This case study looks at the process of a Chapter 11 bankruptcy plan approval over the objection of one of the classes. In a "cram down" allowed by the Bankruptcy Code, the court approved the reorganization plan that felt was fair despite the disapproval of one of the creditors; classes. This case study looks at the requirements for a Chapter 11 plan to be approved and discusses how Court analyzed them in the face of the objection of a class. Included are the requirements of good faith, liquidation test, adequate disclosure, fairness and the absolute priority rule.

The case can be found here: