In the Matter of: ASARCO L.L.C., et al
- Summarized by Scott Gautier , Faegre Drinker Biddle & Reath LLP
- 14 years 1 month ago
- Citation:
- 09-41259
- Tag(s):
-
- Ruling:
- Grant motion to dismiss appeal seeking to amend Debtor's confirmed plan of reorganization. Court applied doctrine of equitable mootness.
- Procedural context:
- Motion to dismiss appeal of confirmation of Debtor's plan of reorganization.
- Facts:
- Upon the presentment of competing plans of reorganization, district court found that both plans were confirmable pursuant to Bankruptcy Code section 1129. District Court confirmed one of the two plans, which resulted in settlement and payment of billions of dollars of claims to governmental entities and individuals. Defeated plan sponsor did not seek a stay of effectiveness of the confirmed plan, but sought to reopen and amend relatvie equity distributions under the confirmed plan. Held that the motion was "equitably moot" because the plan had been substantially consumated, appellant had not sought a stay of the effectiveness of the plan, billions of dollars in claims had been paid and settled and unraveling the consideration provided under the confirmed plan would be unduly complex.
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