- 11 U.S.C.
RadLAX Gateway Hotel LLC v. Amalgamated Bank
May
29
2012
Ruling
Plan that stripped a secured creditor of its right to credit bid at a sale of its collateral could not be confirmed.
Procedural posture
A bankruptcy court denied petitioner debtors' request to confirm a "cramdown" bankruptcy plan over respondent lienholder bank's objection, finding that a proposed auction to sell the encumbered asset free and clear of a lien without permitting the bank to credit-bid did not comply with 11 U.S.C.S. § 1129(b)(2)(A)'s requirements for cramdown plans. The U.S. Court of Appeals for the Seventh Circuit affirmed. Certiorari was granted.
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Court
: U.S. Supreme Court
- 11 U.S.C.
In re Kamayan Holdings LLC
May
23
2012
Ruling
Plan confirmed over objection where rate paid to creditor exceeded discount cramdown rate and end value would exceed value of creditor's claim.
Procedural posture
Before the court for consideration of confirmation was debtor's plan of reorganization. Debtor's secured creditor objected to the plan.
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Court
:
- 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 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 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.
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
- 11 U.S.C.
In re Mace
Jan
25
2011
Ruling
Plan proposing 20-year loan repayment period did not discriminate against creditor.
Procedural posture
A creditor objected to confirmation of the second amended plan proposed by a Chapter 11 trustee on the ground that the plan unfairly discriminated against the creditor and that the plan was not fair and equitable as required by 11 U.S.C.S. § 1129(b)(2)(A).
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Court
:
- 11 U.S.C.
In re Blake
Nov
30
2009
Ruling
Plan confirmed over creditor's objection to using confirmation date as date of valuation for cramdown.
Procedural posture
Bankruptcy debtors proposed a plan which provided that mortgage creditors would receive monthly payments having a present value of the fair market value of the debtors' rental properties on the date of confirmation. The creditors objected to confirmation of the debtors' plan on the ground that the proper date of valuation was the date the debtors commenced their bankruptcy case.
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Court
:
- 11 U.S.C.
Airdigm Communs. Inc. v. FCC (In re Airdigm Communs. Inc.)
Oct
29
2008
Ruling
Bankruptcy court did not err in awarding post-confirmation interest to FCC based on interpretation of plan.
Procedural posture
Appellants, debtor and creditor, appealed the judgment of the United States District Court for the Western District of Wisconsin that affirmed a bankruptcy court's decision to award appellee Federal Communications Commission (FCC) post-confirmation interest for the period between confirmation of the debtor's 2000 plan of reorganization and commencement of new bankruptcy proceedings in 2006.
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Court
:
Judge or Jurisdiction information not available