- 11 U.S.C.
Friedman v. PP LLC (In re Friedman)
Mar
19
2012
Ruling
Denial of confirmation and conversion to chapter 7 reversed as bankruptcy court improperly applied the absolute priority rule in an individual chapter 11 case.
Procedural posture
Appellant chapter 11 debtors challenged a decision of the Bankruptcy Court for the District of Arizona, which denied confirmation of their second amended plan and converted their case to chapter 7.
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Court
:
Judge or Jurisdiction information not available
- 11 U.S.C.
In re Cottonwood Corners Phase V LLC
Feb
17
2012
Ruling
Confirmation denied due to imposition of subordination agreement on creditor landlord without consent.
Procedural posture
A chapter 11 debtor sought confirmation of its plan of reorganization, which was opposed by its largest creditor.
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Court
:
- 11 U.S.C.
In re Lively
Dec
30
2011
Ruling
Confirmation denied due to continued operation of absolute priority rule.
Procedural posture
After a bankruptcy court preliminarily announced that it would deny confirmation of a chapter 11 individual plan for violating 11 U.S.C.S. § 1129(b)(2)(B)(ii), it allowed briefings on the question of whether the Bankruptcy Abuse and Consumer Protection Act of 2005 (BAPCPA) abrogated the absolute priority rule for individual chapter 11 cases.
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Court
:
- 11 U.S.C.
In re Olde Prairie Block LLC
Dec
23
2011
Ruling
Plan that would allow debtor to retain property free and clear of creditor's lien could not be confirmed over creditor's objection.
Procedural posture
A secured creditor filed a motion to dismiss a chapter 11 debtor's updated third amended plan of reorganization on the grounds that the plan contained at least four per se violations of the confirmation requirements of 11 U.S.C.S. § 1129.
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Court
:
- 11 U.S.C.
In re Profl Veterinary Prods.
Dec
16
2011
Ruling
Objection to confirmation sustained due to failure to provide secured creditor with indubitable equivalent of value of claim.
Procedural posture
In a chapter 11 case, a creditor objected to its treatment in the debtor's plan.
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Court
:
- 11 U.S.C.
In re Walkabout Creek Ltd. Dividend Hous. Assn Ltd. Pship
Nov
14
2011
Ruling
Confirmation of plan proposing reamortization of loans at low rate denied due to lack of feasibility.
Procedural posture
Affiliated debtors which owned low-income apartment complexes financed by a state housing agency proposed plans which provided that the agency was fully secured and that the agency loans would be reamortized with interest at a stated rate. The agency objected to confirmation of the debtors' plans.
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Court
:
- 11 U.S.C.
SPCP Group LLC v. Norton
Sep
21
2011
Ruling
Absolute priority rule did not apply to prevent individual chapter 11 debtor from retaining property over objection of unsecured creditor.
Procedural posture
Appellant, appellee debtors' largest unsecured creditor, challenged a decision of the U.S. Bankruptcy Court for the Middle District of Florida, which confirmed the plans of reorganization of the debtors.
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Court
:
- 11 U.S.C.
In re SUD Props.
Aug
23
2011
Ruling
Confirmation denied where plan treatment of creditor did not provide indubitable equivalent of secured claim.
Procedural posture
Debtor, a single asset real estate case as defined in 11 U.S.C.S. § 101(51B), filed a second petition for relief under chapter 11, and submitted a plan for confirmation, proposing to transfer certain secured parcels to the secured creditor in a partial "dirt for debt" plan. The creditor objected, asserting that it did not receive fair and equitable treatment under 11 U.S.C.S. § 1129(b)(2)(A)(iii).
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Court
:
- 11 U.S.C.
In re Lindsey
Aug
05
2011
Ruling
Confirmation denied due to violation of the absolute priority rule.
Procedural posture
Creditor banks filed objections, asserting that debtor in possession's first amended plan of reorganization could not be confirmed as a matter of law because it allowed the debtor to retain pre-petition property in violation of the absolute priority rule of 11 U.S.C.S. § 1129(b)(2)(B)(ii). The creditors moved for summary judgment.
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Court
:
- 11 U.S.C.
River Rd. Hotel Partners LLC v. Amalgamated Bank
Jun
28
2011
Ruling
Denial of asset sale procedure that did not allow credit bids by secured creditors affirmed.
Procedural posture
Debtors challenged a decision of the U. S. Bankruptcy Court for the Northern District of Illinois, which denied the bid procedures motions that they filed in connection with their chapter 11 reorganization plans.
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Court
:
Judge or Jurisdiction information not available