- 11 U.S.C.
In re Appleridge Ret. Cmty. Inc.
Jan
12
2010
Ruling
Relief from stay granted due to lack of equity in property which was not necessary to reorganization and improper PILOT classification.
Procedural posture
Movant creditor sought relief from the automatic stay under 11 U.S.C.S. § 362(d). The issues were whether the property is necessary to an effective reorganization under 11 U.S.C.S. § 362(a)(2)(B), whether the debtor's plan was patently unconfirmable, because it improperly classified the PILOT creditor class as a separate class, and no other plan could be confirmed without the consent of the moving creditor.
ABI Membership is required to access the full summary of In re Appleridge Ret. Cmty. Inc. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: