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§ 1111

In re Seasons Partners LLC

Oct
28
2010
Ruling
Bankruptcy court declined to reconsider valuation in confirming debtor's plan as objecting creditor had opted to be treated as fully secured.
Procedural posture

A chapter 11 debtor presented a plan of reorganization for confirmation. A secured creditor objected on various grounds. The creditor also moved for reconsideration of a valuation opinion.

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Commercial opinion summary, case decided on October 28, 2010 , LexisNexis #1210-026
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In re Philadelphia Newspapers LLC

Oct
08
2009
Ruling
Debtors could not preclude lenders from submitting a "credit bid" at auction sale of substantially all debtor's businesses and assets.
Procedural posture

In this chapter 11 case, debtors moved for an order approving procedures to govern a public auction sale of substantially all of the debtors' businesses and assets. Creditor lenders, who were owed in excess of $300 million and anticipated distribution of approximately $66 million via the debtors' plan, opposed certain provisions.

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Commercial opinion summary, case decided on October 08, 2009 , LexisNexis #1109-093
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In re Matrix Dev. Corp.

Jul
16
2009
Ruling
Unsecured recourse creditor allowed to make election for treatment of claims over debtor's objection.
Procedural posture

Undersecured recourse creditors of the debtor made elections for treatment of their claims under 11 U.S.C.S. § 1111(b)(2). The debtor filed an objection the on the grounds that those creditors were barred from making that election under 11 U.S.C.S. § 1111(b)(1)(B)(ii).

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Commercial opinion summary, case decided on July 16, 2009 , LexisNexis #0809-130
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In re Delta Transitional Home

Jan
26
2009
Ruling
Debtor ordered to modify plan to reflect proper amount of undersecured claim being treated as fully secured.
Procedural posture

A creditor, which elected to have its undersecured claim treated as fully secured pursuant to 11 U.S.C.S. § 1111(b), objected to confirmation of the chapter 11 debtor's plan.

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Commercial opinion summary, case decided on January 26, 2009 , LexisNexis #0309-087
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General Elec. Credit Equities Inc. v. Brice Rd. Dev. L.L.C. (In re Brice Rd. Dev. L.L.C.)

Aug
14
2008
Ruling
Plan did not afford creditor full rights as electing secured creditor where proposed payments did not total allowed amount of claim.
Procedural posture

Appellant creditor challenged a decision of the United States Bankruptcy Court for the Southern District of Ohio, which confirmed appellee debtor's plan over the objections of the creditor, which claimed that the plan was not feasible as required by 11 U.S.C.S. § 1129(a)(11), was not fair and equitable as required by § 1129(b)(2), and failed to accord the creditor its rights as an electing secured creditor under 11 U.S.C.S. § 1111(b)(2).

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 14, 2008 , LexisNexis #0908-029
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Airadigm Communs. Inc. v. Telephone & Data Sys.

Aug
12
2008
Ruling
Creditor's interest arising from funding of loans from earlier chapter 11 plan could not be recharacterized as an equity investment.
Procedural posture

Before the court were four appeals from three final orders of the Bankruptcy Court for the Western District of Wisconsin on allowability of claims 14, 15, and 16 filed by appellee/appellant claimant against appellant/appellee debtor's estate. Appellant creditor Federal Communications Commission (FCC) challenged the allowance of claims 14 and 16 and the claimant appealed the disallowance of claim 15 and the interest portion of claim 16.

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Commercial opinion summary, case decided on August 12, 2008 , LexisNexis #0908-011
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In re Desert Vill. Ltd. Pship

Jan
09
2006
Ruling
Court sustained the debtor's objection to the creditor's proof of claim as to the additional amount listed but not to the claim itself since debtor listed an amount owed to the creditor on the petition.
Procedural posture

The debtor in possession filed for chapter 11 bankruptcy relief. Claimant creditor filed a proof of claim for moneys owed for accounting services provided prepetition to the debtor in possession. The debtor in possession objected to the proof of claim. The court held a hearing on the objection.

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opinion summary, case decided on January 09, 2006 , LexisNexis #0206-046
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