- 11 U.S.C.
In re Gelin
Sep
29
2010
Ruling
Individual chapter 11 debtors could not cram down without consent of mortgage creditors or payment in full due to continued operation of absolute priority rule.
Procedural posture
Before the court was debtors' cram down motion pursuant to 11 U.S.C.S. § 1129(b), as well as debtors' Second Plan of Reorganization. Other related motions were also before the court seeking to cram down the Plan on other non-objecting creditor classes. A creditor objected to confirmation based on the absolute priority rule.
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Court
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