LaSalle and Everything After: Perspectives on New Value in Chapter 11
Bank of America Nat. Trust and Sav. Assn. v. 203 North LaSalle Street Partnership (“LaSalle”) is a landmark United States Supreme Court decision from 1999 discussing the requirements for approval of a “new value” plan under chapter 11 of the Bankruptcy Code. LaSalle holds that a market test is an appropriate way to establish the quantum of an adequate new value contribution for purposes of a chapter 11 cramdown. While this precedent has been around for more than 25 years now, it is rarely implemented in the manner contemplated by the Supreme Court. The panel will discuss the LaSalle standard, challenges, and best practices with implementation.
Related Professional
