Blackjewel and Hartshorne: Overcoming § 1129 (a) (9) Obstacles

In an article published in the August 2021 issue of the ABI Journal, Squire Patton Boggs’ Restructuring & Insolvency Practice global chair Stephen Lerner, partner Travis McRoberts and associate Kyle Arendsen explain how two coal companies advised by the firm in their chapter 11 cases -- Blackjewel and Hartshorne -- were able to obtain court approval of their liquidating plans without paying all of their administrative expense claims in full upon exiting chapter 11 as required by section 1129 (a) (9) of the Bankruptcy Code and how future debtors may navigate section 1129(a)(9) dilemmas when seeking plan confirmation.