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©...
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...
by Michael M. Lauter
In an unpublished decision in In re The Village at
Lakeridge, LLC , BAP Nos. NV-12-1456 and NV-12-1474 (B.A.P. 9th Cir. Apr. 5,
2013), the United States Bankruptcy Appellate Panel of the Ninth Circuit held
that a vote on a plan of reorganization submitted by a non-insider claimant...