GE Capital Corp. v. Future Media Prods.

Oct

2008

Ruling

Creditor paid in full pursuant to stipulation rather than through chapter 11 plan was entitled to default rate of interest.

Procedural posture

Debtor sought relief in the bankruptcy court for the Central District of California. Pursuant to a stipulation, an oversecured creditor was paid $ 5,728,584, which included interest at the default rate. The creditors' committee objected to the default rate interest, and the bankruptcy court ordered the oversecured creditor to return the default rate differential to the debtor. The oversecured creditor appealed.

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Court :

Judge or Jurisdiction information not available

Commercial opinion summary, case decided on October 24, 2008 , LexisNexis #1108-085

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11 U.S.C.
- § 506
- § 506(b)

GE Capital Corp. v. Future Media Prods.

Aug

2008

Ruling

Bankruptcy court erred in denying attorneys' fees and costs on claim paid in full by sale of assets outside chapter 11 plan.

Procedural posture

Appellant creditor challenged an order from the United States Bankruptcy Court for the Central District of California, which denied its claim for default interest and attorneys fees based on a contract with appellee debtor.

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Court :

Judge or Jurisdiction information not available

Commercial opinion summary, case decided on August 07, 2008 , LexisNexis #0808-073

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11 U.S.C.
- § 506
- § 506(b)

GE Capital Corp. v. Future Media Prods. Inc.

Jul

2008

Ruling

Creditor entitled to default rate of interest where payment in full occurred outside of chapter 11 plan.

Procedural posture

Petitioner creditor appealed an order of the United States District Court for the Central District of California, which denied it default interest and attorneys' fees under 11 U.S.C.S. § 506(b), awarded it interest at a pre-default rate, and required it to return to respondent debtor the default rate differential or the amount it had collected over the pre-default rate.

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Court :

Judge or Jurisdiction information not available

Commercial opinion summary, case decided on July 03, 2008 , LexisNexis #0708-116

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