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§ 364

In re 220 Ferry St. LLC

Sep
26
2007
Ruling
Debtor allowed to borrow money on senior and priming lien basis.
Procedural posture

Pending was the court's decision on two separate but related motions: one by debtor seeking authorization to borrow money on a senior and priming lien basis under 11 U.S.C. § 364(d)(1) (B and rowing Motion) the other by a secured claimant seeking adequate protection in connection with that borrowing (Adequate Protection Motion).

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Commercial opinion summary, case decided on September 26, 2007 , LexisNexis #1007-108
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Sherman v. Harbin (In re Harbin)

Apr
25
2007
Ruling
Retroactive approval of postpetition financing affirmed.
Procedural posture

Plaintiff creditor sought judicial review of a bankruptcy court's orders that confirmed defendant debtor's plan of reorganization and granted nunc pro tunc approval of defendant lender's refinancing of debtor's residence. The District Court for the Southern District of California vacated the bankruptcy court's confirmation of the plan and affirmed the nunc pro tunc approval of the refinancing. Both sides appealed.

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Court :
Judge or Jurisdiction information not available
opinion summary, case decided on April 25, 2007 , LexisNexis #0607-126
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In re Stoney Creek Techs. LLC

Mar
19
2007
Ruling
Authority for secured postpetition financing denied due to lack of adequate protection for creditors or realistic prospects for successful reorganization.
Procedural posture

All of a bankruptcy debtor's assets were subject to an unchallenged lien of a creditor, and the debtor proposed to obtain a loan to finance its continued operations and provide the new lender with a priority lien. The debtor moved for authority pursuant to 11 U.S.C. § 364(d) to obtain secured postpetition financing, and the creditor objected to the motion.

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opinion summary, case decided on March 19, 2007 , LexisNexis #0507-040
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