A Secured Creditor's Absolute Legal Right to Credit Bid under 11 U.S.C. § 1129(b)(2)(A)

In this Emerging Issues Analysis, James M. Lawniczak addresses decisions from the Third and Fifth Circuits holding that secured creditors do not have an absolute legal right to credit bid when their collateral is sold through a plan of reorganization. While there may be a small swing in negotiation...

LexisNexis® Bankruptcy Law Community Podcast featuring James Lawniczak of Calfee, Halter & Griswold on a secured creditor's absolute legal right to credit bid

On this edition, James Lawniczak of Calfee, Halter & Griswold in Cleveland discusses the differences and similarities of two Circuit Court decisions that held secured creditors do not have an absolute legal right to credit bid when their collateral is sold through a plan of reorganization. Copyright©...

Bank of New York Trust Co., NA v. Official Unsecured Creditors' Committee (In re Pacific Lumber Co.), 2009 U.S. App. LEXIS 21749 (Sept. 29, 2009)

LexisNexis Overview: Because Chapter 11 debtors were proceeding to sell assets free and clear under 11 U.S.C.S. § 1129(b)(2)(A)(iii), secured lenders had no right to credit bid at the auction sale of the collateral; thus, the district court's reversal of the bankruptcy court's holding...

In re Philadelphia Newspapers, LLC, 2010 U.S. App. LEXIS 5805 (3d Cir. Mar. 22, 2010)

LexisNexis Overview: Because Chapter 11 debtors were proceeding to sell assets free and clear under 11 U.S.C.S. § 1129(b)(2)(A)(iii), secured lenders had no right to credit bid at the auction sale of the collateral; thus, the district court's reversal of the bankruptcy court's holding...

Chapter 11 Once Again Safe for Undersecured Lenders - Supreme Court Affirms Right to Credit Bid in RadLax

By Ben Feder The U.S. Supreme Court today in Radlax Gateway Hotel, LLC, et al. v. Amalgamated Bank unanimously upheld the right of secured creditors to credit bid their debt upon a sale of their collateral pursuant to a nonconsensual chapter 11 plan of reorganization. As described in numerous prior...