Mealey's Insurance - 1st Circuit Remands; Lender Entitled To Post-Petition Interest From Debtor's Sale

Mealey's Insurance - 1st Circuit Remands; Lender Entitled To Post-Petition Interest From Debtor's Sale

BOSTON - A panel of the First Circuit U.S. Court of Appeals on April 11 vacated a remand order issued by a bankruptcy appellate panel and ruled that an insurance company that served as a lender for a hotel construction project was entitled to post-petition interest from the date the debtor sold the hotel at a rate of 14.5 percent (The Prudential Insurance of America v. SW Boston Hotel Venture LLC, et al. $(In Re: SW Boston Hotel Venture LLC$), No. 12-9008, Chapter 11, 1st Cir.; 2014 U.S. App. LEXIS 6768).

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