River Rd. Hotel Partners, LLC v. Amalgamated Bank, 2011 U.S. App. LEXIS 13131 (June 28, 2011)

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, Chicago, IL.

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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