Kristen Perry

Jan 10, 2025 | jdsupra.com | James Millar |Kristen Perry

The United States Court of Appeals for the Fifth Circuit rejected the application of equitable mootness in the strongest possible terms. The Court ruled in favor of Appellant Citadel by concluding that the indemnity was not justifiable as a settlement and violated the equal-treatment rule of Section 1123(a)(4) of the Bankruptcy Code and thus should be excised from the plan of reorganization.