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...
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...
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
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...