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Law360 (January 10, 2020, 5:36 PM EST) -- On Nov. 26, 2019, the U.S. Court of Appeals for the Fifth Circuit held in Ultra Petroleum Corp. v. Ad Hoc Committee of Unsecured Creditors of Ultra Resources[1] that the U.S. Bankruptcy Code limits in certain respects the right of creditors to enforce contractual claims for a “make-whole” premium owed under a note agreement as the result of the debtor’s prepayment of the notes.
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