In a ruling that should be well received in the secured lending community, the U.S. District Court for the Eastern District of North Carolina in CWCapital Asset Management LLC v. Burcam Capital II LLC, (June 24, 2014), reversed a bankruptcy court’s order confirming a Chapter 11 plan on the basis that the debtor engaged in “blatant gerrymandering” in order to obtain an impaired accepting class required for confirmation.
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