Uncertainty Persists Over Postpetition Interest Vis-à-Vis Unimpaired Creditors
By Paul V. Shalhoub, Partner & Andrew S. Mordkoff, Associate, Willkie Farr & Gallagher LLP
Unsecured creditors in bankruptcy typically are barred from receiving postpetition interest on their prepetition claims against a debtor. That much is certain. But several courts recently have faced more challenging questions, such as whether unsecured creditors that are purported to be...
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Andrew Mordkoff is a partner in the Business Reorganization & Restructuring Department of Willkie Farr and Gallagher LLP. He represents debtors, creditors, sponsors, and investors in large, complex Chapter 11 cases and out-of-court restructurings. He has been involved in numerous complex deals, including Momentive’s landmark Chapter 11 cases; Core Media in the “American Idol” owner’s complex cross-border filing; and Aegerion Pharmaceuticals in its reorganization. Mordkoff is also a member of the New York City Bar Association’s Bankruptcy & Corporate Reorganization Committee.
Paul V. Shalhoub is a partner in the New York office of Willkie Farr and Gallagher LLP’s Business Reorganization & Restructuring Department. He focuses on bankruptcy and corporate restructuring transactions, acquisitions and sales of distressed companies, debtor-in-possession financing, and related matters. Shalhoub also regularly assists creditors, advisers, and other parties involved in judicial and nonjudicial restructurings. Willkie served as counsel for Momentive Performance Materials Inc. in its Chapter 11 proceedings and as lead counsel in Momentive’s cramdown dispute at the Bankruptcy Court and District Court levels.