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Orr, 55, filed for bankruptcy after asking creditors owed more than $11 billion to accept just $2 billion in new notes in exchange for canceling their debt. prioritize its own needs, not the.
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In 2009 the New York. their case before the judge. Some left the room after being approached by attorneys for debt collectors, asking if they would strike a last-minute settlement. According to the.
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The other side asserts that the makewhole is a "damage" claim for not being paid as per New York law-not per U.S. Bankruptcy. Those holding notes that would have a lower priority claim in.