Golden Seahorse LLC, In re
Jul
31
2023
Ruling
Debtor had to pay default interest to the extent provided by its agreement and permitted bynon-bankruptcy law in order to reinstate its defaulted debt. (Bankr. S.D.N.Y.)
Issue(s)
Impairment of Claims or Interests; When Default Rights Are Not Impaired.
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975 Walton Bronx LLC, In re
Oct
06
2022
Ruling
Debtor could not cure and reinstate the lender's claim absent cure of the nonmonetary defaultdue to debtor’s intentional breach of the change of control covenant. (Bankr. E.D.N.Y.)
Issue(s)
Impairment of Claims or Interests; When Default Rights Are Not Impaired.
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975 Walton Bronx LLC, In re
Sep
23
2022
Ruling
Debtor's plan of reorganization was not confirmable to the extent that it provided forreinstatement of a loan accelerated by lender after the debtor concealed a change inownership. (Bankr. E.D.N.Y.)
Issue(s)
Impairment of Claims or Interests; When Default Rights Are Not Impaired.
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PG&E Corp., In re--Ad Hoc Comm. of Holders of Trade Claims v. PG&E
Aug
29
2022
Ruling
The bankruptcy court erred in holding that the Bankruptcy Code limits plaintiffs to recoveryof post-petition interest at the federal judgment rate. (9th Cir.)
Issue(s)
Impairment of Claims or Interests; No Impairment if Legal, Equitable, and Contractual
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Judge or Jurisdiction information not available
Lewisberry Partners, LLC, In re
Jul
01
2022
Ruling
There is no federal bankruptcy right to modify a creditor's contractual right to collect defaultinterest otherwise collectible under the parties' loan contract. (Bankr. E.D. Pa.)
Issue(s)
Impairment of Claims or Interests; When Default Rights Are Not Impaired.
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53 Stanhope LLC, In re
Feb
18
2021
Ruling
Plan confirmation was denied as lender's claims would give rise to impaired claims. (Bankr.S.D.N.Y.)
Issue(s)
Impairment of Claims or Interests; No Impairment if Legal, Equitable, and Contractual
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Ultra Petroleum Corp., In re--Keystone Gas Gathering, L.L.C. v. Ad Hoc Comm.
Nov
26
2019
Ruling
Court erred in ruling that creditors were impaired by the plan that paid them everythingallowed by the bankruptcy code as the plan itself did not alter the creditor's legal, equitable,or contractual rights. (5th Cir.)
Issue(s)
Impairment of Claims or Interests; No Impairment if Legal, Equitable, and Contractual
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Judge or Jurisdiction information not available
In re Sagamore Partners LTD
Jul
10
2012
Ruling
Lender that was not to be paid default rate of interest to which it was entitled could not be treated as unimpaired under plan.
Procedural posture
Secured lender of chapter 11 debtor filed an objection to the disclosure statement filed by the debtor in connection with its plan of reorganization.
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Court
:
- 11 U.S.C.
In re General Growth Props.
Jun
16
2011
Ruling
Retirement fund entitled to default rate of interest on loan to debtor pursuant to terms of promissory note.
Procedural posture
Debtor filed a petition under Chapter 11 of the Bankruptcy Code, and proposed a plan for reorganizing its business operating shopping malls. The Comptroller of the State of New York, as trustee of the Common Retirement Fund, filed an objection to the debtor's plan.
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Court
:
- 11 U.S.C.
In re Texas Rangers Baseball Partners
Jun
22
2010
Ruling
Confirmation denied pending modification to protect impaired lenders.
Procedural posture
The court posed questions pertinent to the confirmability of the prepackaged plan of reorganization of a chapter 11 debtor and invited interested parties to address those issues by briefs and at a hearing. The questions included whether under the plan either of the classes consisting of the Lenders or the equity owners were impaired within the meaning of 11 U.S.C.S. § 1124.
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