Illinois Bankruptcy Court Sets Low Bar for Equitable Subordination of Insider Loan
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Illinois Bankruptcy Court Sets Low Bar for Equitable Subordination of Insider Loan
By Michael A. Klein, Associate, Cooley LLP & Jeremy Rothstein
For a distressed company running low on capital, an investment from insiders may represent a last best hope for survival. Insiders may be willing to risk throwing good money after bad for a chance to save the company even when any third party would stay safely away.
Insiders of a failing...
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Michael Klein is an associate in the Corporate Restructuring and Bankruptcy practice of Cooley LLP in New York. Klein’s practice focuses on litigation and transactional work, including the representation of debtors, creditors’ committees in Chapter 11, and secured creditors.
Jeremy Rothstein is a former associate of Cooley LLP. He practiced in the firm’s Corporate Restructuring & Bankruptcy group.
