- 11 U.S.C.
Cottonwood Fin. Ltd., In re
Mar
22
2024
Ruling
Court found that the pre-petition secured lender liens were valid, binding, enforceable,nonavoidable, properly perfected, and were senior in priority over any and all other liens onthe pre-petition secured lender collateral. (Bankr. N.D. Tex.)
Issue(s)
Obtaining Credit; Authorization When Trustee is Unable to Obtain Credit; Priority
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Court
:
Dunn, In re
May
17
2018
Ruling
Court granted debtors' motion to incur secured debt as debtors showed that they were unable to obtain unsecured credit or secured credit on terms that were more favorable. (Bankr. N.D. Iowa)
Issue(s)
Obtaining Credit; Authorization When Trustee is Unable to Obtain Credit.
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Court
:
In re Packaging Sys., LLC
Sep
30
2016
Ruling
Preconversion super-priority claim took precedence over postconversion administrativeexpense claims. (Bankr. D.N.J.)
Issue(s)
Should creditor’s pre-conversion super-priority claim subordinate all post-conversion chapter 7 administrative expenses?
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Court
:
( Judge Gravelle ) [ Bankruptcy Court ]
- 11 U.S.C.
In re Estrada
Feb
24
2016
Ruling
Debtor could receive postpetition credit necessary to cultivate crops.
Issue(s)
Could chapter 11 debtor be granted authority to obtain secured credit in order to maintain farming operation?
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Court
:
- 11 U.S.C.
In re National Litho LLC
May
23
2013
Ruling
Lender entitled to superpriority administrative claim for postpetition, preconversion loan to debtor in possession.
Procedural posture
After a chapter 11 case was converted to a chapter 7 case, a debtor in possession's lender filed a motion and request for allowance and payment of a priority claim, and objections were filed thereto.
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Court
:
U.S. Bank Trust v. American Airlines Inc. (In re AMR Corp.)
Jan
17
2013
Ruling
Postpetition financing approved as not requiring payment of make whole amount due to filing constituting default and triggering acceleration.
Procedural posture
Debtors and debtors-in-possession, airline and related parties, moved for authority to enter into a postpetition secured financing transaction under 11 U.S.C.S. § 364(c), for authority to use cash on hand, including the proceeds of the new financing, to repay the obligations of the airline under certain pre-petition financing transactions. Creditor bank, a prepetition lender, objected to the motion.
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Court
:
Official Committee of Unsecured Creditors v. U.S. Dept of the Treasury (In re Motors Liquidation Co.)
Nov
28
2011
Ruling
Debtor in possession had no right to proceeds of term loan action brought by creditors' committee.
Procedural posture
In this adversary proceeding under the umbrella of a chapter 11 case, Creditors' Committee sought a declaratory judgment providing that defendant Debtor-in-Possession (DIP) lenders in this case had no right to any proceeds that could result from a very major avoidance action (the Term Loan Action) that the Creditors' Committee brought on behalf of the debtor's old estate.
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Court
:
In re FFG 1 LLC
Oct
25
2010
Ruling
Debtor authorized to use cash collateral where creditor prepetition creditor was granted security interest that would not be subordinated.
Procedural posture
Before the court was a proposed interim order authorizing the debtor to use cash collateral and provide adequate protection for the period November 1 through 30, 2010. The creditor, to whom the debtor was indebted pre-petition, was willing to do so only upon the terms and conditions expressly contained therein. Debtor's principals had personally guaranteed the indebtedness.
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Court
:
In re Sterling Mining Co.
Aug
14
2009
Ruling
Postpetition financing agreement approved subject to elimination of provision requiring lender's consent for nonconsensual use of cash collateral.
Procedural posture
Debtor mining company filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code on March 3, 2009, and it was granted status as a debtor-in-possession. The debtor filed a motion, pursuant to 11 U.S.C.S. § 364(c), for approval of postpetition financing, and companies that owned and possessed a mine the debtor operated before it declared bankruptcy filed objections.
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Court
:
In re Levitt & Sons LLC
Feb
13
2008
Ruling
Postpetition financing for debtor-in-possession allowed as in best interests of the estate.
Procedural posture
Bankruptcy debtors in possession developed and sold single family homes in planned residential communities, and developments were in varying stages of completion. The debtors moved for authorization to obtain postpetition financing on a superpriority secured and priming basis from the debtors' primary prepetition lender, and junior lien holders objected to the motion.
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Court
: