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In re Walkabout Creek Ltd. Dividend Hous. Assn Ltd. Pship

In re Walkabout Creek Ltd. Dividend Hous. Assn Ltd. Pship

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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Commercial opinion summary, case decided on November 14, 2011 , LexisNexis #1211-096