The Supreme Court has affirmed the 7th Circuit in RadLAX. I'm sure Adam, I, and others will have more comments to follow. The 8-0 decision certainly makes me feel a bit more comfortable about those old posts arguing that the 3d Cir. was aggressively wrong.
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One response to “As Expected”
I’m glad some sense prevailed. Given that the 3rd Circuit just bootstrapped the sale into the plan, the Philadelphia Newspapers decision was either completely wrong or not even wrong. The paragraph you quoted in your earlier article might as well have read, “The issue before us is credit bidding. We hold axehandle.”