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| TITLE | Supreme Court Decision 2010Da82103 Decided February 24, 2011[Confirmation of Absence of Reorganization Claim] [full Text] |
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| Summary | |
| [1] Where a reorganization plan is approved, whether the priority or method of payment of debt regarding reorganization claims is determined by the reorganization plan. (Affirmative) [2] Case affirming the court below's decision which held that: i) a provision in a reorganization plan which stated ""jointly and severally guaranteed debt which the reorganizing company guaranteed for a third party shall be repaid by the main debtor or by the disposal of collateral provided by the main debtor"" does not exclude debt payment through a third party or a collateral offered by a third party; and ii) as long as such payment of a debt is not excluded, the reorganizing company's guaranteed debt against a main debtor does not become finalized merely because a bankruptcy reorganization decision against the main debtor is finalized | |
