Senior creditor cramdowns extinguish contingent sweat equity under the absolute priority rule because unperformed labor fails to constitute market-tested cash value.
Judicial review of discretionary asset appraisals in multi-class liquidation waterfalls hinges on whether contractual terms or fiduciary self-dealing triggers deferential business judgment, manifest error, or entire fairness scrutiny.
In distressed restructurings variable equity allocation models adjust ownership percentages based on senior creditor recovery rates and post workout operating targets.
Dynamic equity agreements lose statutory enforceability in corporate restructuring when unissued dynamic points collide with senior creditor priority rules.
The terms are written where they belong. Each field holds three desks, and every entry a desk writes raises the terms it uses, each term given a meaning, a mechanism and the places it appears. The record on these pages stays first person and hand made; the fields grow the nomenclature.
