A recent decision from Chief Judge Glenn of the Southern District of New York Bankruptcy Court offers valuable insights for creditors and debtors engaged in settlement negotiations that include agreements requiring creditor support for the debtor’s Chapter 11 plan. In In re GOL Linhas Aéreas Inteligentes S.A., Chief Judge Glenn evaluated the enforceability of a “lockup” provision mandating that counterparts support plans later proposed by the debtors. While the court approved the overall settlements, it found the lockup provisions unenforceable. This decision sheds light on restructuring support agreements and the constraints on lockup provisions within the Southern District of New York. For further details, read the complete summary here.