U.S. Bank Natl Assoc. v. Lewis & Clark Apts. LP (In re Lewis & Clark Apts. LP)
Oct
11
2012
Ruling
Bankruptcy court erred by not attributing value to low income housing tax credits for which debtor was eligible.
Procedural posture
Creditor bank challenged an order of the United States Bankruptcy Court for the Eastern District of Missouri that granted the motion of appellee debtor, the owner of an apartment complex, and valued the creditor's allowed secured claim at $3,500,000, pursuant to 11 U.S.C.S. § 506(a). The issue was whether low-income housing tax credits and use restrictions attributable to the collateral should be considered in valuing the claim.
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Court
:
Judge or Jurisdiction information not available