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Email On March 31, 2021, the U.S. Bankruptcy Court for the District of Kansas held in In re Fencepost Productions Inc. that even though an assignment of voting rights provision in a subordination agreement was not enforceable in a bankruptcy proceeding, a subordinated creditor nevertheless was barred from participating in proceedings related to a chapter 11 plan and disclosure statement on the basis that the subordinated creditor lacked prudential standing. https://www.cadwalader.com/resources/clients-friends-memos/to-vote-or-not-to-vote-court-holds-that-out-of-money-junior-creditor-barred-from-objecting-to-plan