U.S. Solicitor General Tells Supreme Court Creditor Must Be Allowed To Bid

WASHINGTON, D.C. - In an amicus brief made available March 15, the U.S. solicitor general argues that the U.S. Supreme Court should find that in the absence of good cause, a Chapter 11 bankruptcy plan may not sell encumbered property fee and clear of the lien of a nonconsenting secured creditor without permitting the creditor to bid at the sale of the property (RadLAX Gateway Hotel LLC v. Amalgamated Bank, No. 11-166, Chapter 11, U.S. Sup.).
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