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May 24, 2018
Paul Zumbro Serves on Advisory Board and Speaks at the ABI’s 2018 New York City Bankruptcy Conference

Cravath partner Paul H. Zumbro served on the Advisory Board and as a speaker for the American Bankruptcy Institute’s 2018 New York City Bankruptcy Conference, which was held on May 24, 2018. Paul spoke on a panel entitled “Momentive Aftermath,” which covered cramdown and reinstatement issues since the Second Circuit’s Momentive decision, including a circuit split with the Third Circuit on make-whole premiums in bankruptcy. In addition to Paul, the panel included The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court, who authored the bankruptcy court decision for In re: Energy Future Holdings Corp., which was overturned by the Third Circuit, leading to the circuit split on the make-whole issue. The panel also covered how to determine the appropriate rate of interest under the cramdown provisions of chapter 11 following Momentive’s market-based approach.

Please click here to read the Firm’s client memo on the Momentive decision, co-authored by partners Paul H. Zumbro, George E. Zobitz, Omid H. Nasab and Andrew J. Pitts.