December 2017

Michael Friedman, Co-Practice Group Leader of Chapman's Bankruptcy and Restructuring Group, recently joined DebtWire’s Richard Goldman for a podcast interview. Michael discussed “gifting,” which is a plan confirmation strategy whereby a senior group of creditors bypasses an intermediate tranche of creditors and “gifts” a portion of its recovery to a junior class of creditors in exchange for that class’s plan support. While New York federal courts have held that “gifting” violates the Bankruptcy Code’s absolute priority rule (Dish Network v. DBSD), a recent Delaware district court decision (Nuverra Environmental) held otherwise.

For more information, download Michael's Law360 article on the Nuverra Environmental case: “In Delaware, the Gift Plan Is Not Dead Yet.”


For more information on DebtWire, visit debtwire.com.

Related People

We have always been focused on finance.

  • 1913
    TS Chapman partners with Henry Cutler to form Chapman and Cutler
  • 1st
    Chapman's first client in 1913 is still a client of the firm today
  • 22
    Diverse financial practices serving regional, national, and global clients
  • 6
    Offices across the country and in key US financial centers

We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Privacy Policy. By using this website you agree to our use of cookies.