Christopher Conte’s Article on a Key Eleventh Circuit Bankruptcy Decision Appears in “Stream of Commerce,” the publication of the Alabama State Bar’s Bankruptcy and Commercial Law Section

The Eleventh Circuit’s recent opinion in In re Lett, 632 F.3d 1216 (11th Cir. 2011) greatly expands the role of bankruptcy courts in approving Chapter 11 plans.  The decision essentially requires a bankruptcy court to determine independently whether such a plan satisfies the “absolute priority rule” where no creditor has objected to the plan on that ground, thereby transforming the judge from a neutral arbiter into an advocate for creditors.  Mr. Conte’s article, published in the January 2012 issue of Stream of Commerce, discusses In re Lett and its progeny thus far, and explores the decision’s potential ramifications.  Click here to read Mr. Conte’s article.