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IN RE PES HOLDINGS, LLC

Case No. 19-11626 (LSS) Jointly Administered Civ. No. 20-363 (RGA).

625 B.R. 822 (2021)

IN RE: PES HOLDINGS, LLC, et al., Debtors. Cortland Capital Market Services, LLC, Appellant, v. ICBC Standard Bank Plc., Appellee.

United States District Court, D. Delaware.

Signed January 4, 2021.

Attorney(s) appearing for the Case

Damian S. Schaible, James I. McClammy, David B. Toscano (argued), Aryeh Ethan Falk, Davis Polk & Wardwell LLP, New York, New York; Robert J. Dehney, Andrew R. Remming, Paige N. Topper, Morris Nichols Arsht & Tunnell LLP, Wilmington, Delaware, attorneys for Appellant Cortland Capital Market Services, LLC.

Richard I. Werder, Jr., Deborah Newman (argued), David M. Cooper, Zachary Russell, Quinn Emanuel Urquhart & Sullivan, LLP, New York, New York; William P. Bowden, Stacy L. Newman, Ashby & Geddes, P.A., Wilmington, Delaware, attorneys for Appellee ICBC Standard Bank Plc.

MEMORANDUM OPINION

This appeal arises in the Chapter 11 bankruptcy cases of PES Holdings, LLC (together with certain affiliates, "Debtors") and concerns which of two secured creditors—ICBC Standard Bank Plc ("ICBCS") or Cortland Capital Market Services, LLC ("Appellant...

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