The document is a court opinion regarding the confirmation of a bankruptcy reorganization plan for MPM Silicones, LLC. The bankruptcy court confirmed the plan despite objections, using Chapter 11's 'cramdown' provision. The plan was deemed fair to Subordinated Notes holders due to their subordination to Second-Lien Notes, and to Senior-Lien Notes holders as the 2012 Indentures did not require a make-whole premium in bankruptcy. Appeals were made against the confirmation order, but the district court affirmed the bankruptcy court's decision. The document discusses the legal reasoning and outcomes of these appeals.
documents/vol00010-efta01358960-pdf.pdf
{"title":"In re MPM Silicones, LLC","key_people":["Debtors","Appellants"],"document_date":"2017","document_type":"legal","key_locations":["Bankr. S.D.N.Y.","S.D.N.Y."],"document_subtype":"court opinion","key_organizations":["MPM Silicones, LLC"],"reference_numbers":["15-1682","15-1824","15-1771"]}