LSTA submits Third Circuit amicus brief in W.R. Grace on absolute priority
The trade group says its brief addresses the rule requiring a debtor's creditors be paid in full before stockholders recover.
At a glance
The trade group says its brief addresses the rule requiring a debtor's creditors be paid in full before stockholders recover.
The LSTA submitted an amicus brief to the U.S. Court of Appeals for the Third Circuit in In re W.R. Grace & Co., according to an LSTA item dated Aug.
The item does not set out the association's argument in the case, and it does not describe the underlying dispute or the proceeding's status.
The LSTA submitted an amicus brief to the U.S. Court of Appeals for the Third Circuit in In re W.R. Grace & Co., according to an LSTA item dated Aug. 11. The issue the brief addressed was the absolute priority rule, which the association describes as the bankruptcy rule requiring that a debtor's creditors be paid in full before its stockholders recover anything.
The item does not set out the association's argument in the case, and it does not describe the underlying dispute or the proceeding's status.
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