Solvent-debtor exception survives the Bankruptcy Code, split Fifth Circuit holds
Credit: shutterstock/ Kodda
Nearly six years after its Chapter 11 plan was approved, Canada-incorporated oil and gas group Ultra Petroleum has lost an appeal over a Texas bankruptcy court ruling awarding its noteholders US$387 million in make-whole claims and post-petition interest, in part because soaring energy prices have propelled it back to solvency.
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