08/05/2011 03:22:00 PM EST
River Rd. Hotel Partners, LLC v. Amalgamated Bank, 2011 U.S. App. LEXIS 13131 (June 28, 2011)
LexisNexis Overview: Bankruptcy
court did not err in denying confirmation of Chapter 11 debtors' plans on the
basis that they did not comply with the specific requirements of 11 U.S.C.S. §
1129(b)(2)(A)(ii) because debtors could not sell encumbered assets free and
clear of liens without allowing the secured creditors to bid their credit at
the asset auctions.
Counsel: For In the
Matter of: RIVER ROAD HOTEL PARTNERS, LLC, RIVER ROAD EXPANSION PARTNERS, LLC,
Debtor - Appellants: David M. Neff , Attorney, PERKINS COIE, Chicago, IL.
For AMALGAMATED BANK, Appellee:
John W. Costello , Attorney, WILDMAN, HARROLD, ALLEN & DIXON LLP, Chicago,
IL; Adam A. Lewis , Attorney, MORRISON & FOERSTER LLP, San Francisco, CA.
For UNITED STATES TRUSTEE,
Trustee: United States Trustee, Attorney, OFFICE OF THE UNITED STATES TRUSTEE,
For LOAN SYNDICATIONS AND
TRANDING ASSOCIATION, Amicus Curiae: Craig Goldblatt , Attorney, WILMER HALE
LLP, Washington, DC.
Judges: Before CUDAHY, MANION,
and HAMILTON, Circuit Judges.
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