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Goldberg Kohn Principals Randy Klein and Jeremy Downs have authored, "River Road: Credit Bid Freeway or Tollway," presented at the American Bankruptcy Institute's 19th Annual Southwest Bankruptcy Conference held in Las Vegas on September 8, 2011.

The article concerns in Matter of River Road et al. wherein the Bankruptcy Court for the Northern District of Illinois ruled in connection with bid procedures motions that the Debtors could not use § 1129(b)(2)(A)(iii) (indubitable equivalent test) to sell assets under a plan that did not meet the requirements of § 1129(b)(2)(A)(ii), including its requirement that secured creditors have the right to "credit bid" for such assets. By certification, the Seventh Circuit heard the appeals directly. On June 28, 2011, the Seventh Circuit affirmed the ruling of the Bankruptcy Court that denied the Debtors' request for an order precluding credit bidding in connection with their proposed sale under a plan. In doing so, the Seventh Circuit rejected the Third Circuit's majority in the Philadelphia Newspapers decision. 

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