J. Ellsworth Summers, Jr.

J. Ellsworth Summers, Jr.

Rogers Towers

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Eleventh Circuit Holds Replacement Value - Applies to Surrender of Collateral in Chapter 13 Plan

On March 27, 2014, the Eleventh Circuit (the “Court”) issued a ruling, which will have a major impact on how Chapter 7 and 13 debtors are able to treat claims of secured creditors. The issue in In re Brown, 13-13013, 2014 WL...more

4/3/2014 - Chapter 13 Commercial Bankruptcy

Recent Decision Caps Secured Creditor’s Credit Bid in §363 Sale to Purchase Price of Acquired Debt

It is well-settled that secured creditors are ordinarily entitled to credit bid their allowed secured claim in a sale pursuant to § 363 of the Bankruptcy Code (the “Code”). In Radlax Gateway Hotel, LLC v. Amalgamated Bank,...more

3/11/2014 - Bids Chapter 11 Commercial Bankruptcy Credit Bids Creditors Secured Creditors

Dirt-for-Debt Buries Creditor with Risk and Uncertainty

In order to confirm a chapter 11 plan of reorganization, a debtor must satisfy all the provisions of §1129(a) of the Bankruptcy Code, except for §1129(a)(8). Section (a)(8) requires that each class of creditors either (i)...more

2/7/2014 - Chapter 11 Commercial Bankruptcy

Status as a Debtor not Enough to Confer Appellate Standing

“Standing” is a legal term of art that refers to a party’s ability to bring a cause of action, to intercede in one or to appeal the court’s judgment. To prove appellate standing in a bankruptcy proceeding, a party must show...more

12/26/2013 - Chapter 7 Commercial Bankruptcy Debtor-Creditor Standing Trustees

The Absolute Priority Rule in Individual Chapter 11 Bankruptcy Cases lives on … for now

The principle behind the absolute priority rule is simple: unsecured creditors should be paid before the debtor is entitled to retain property of the bankruptcy estate. In a corporate setting the absolute priority rule...more

12/12/2013 - Absolute Priority Rule BAPCPA Chapter 11 Commercial Bankruptcy Consumer Bankruptcy Creditors Debtors

Rogers Towers: The Shell Game: Bankrupt Debtor’s Concealment of Pre-Petition Claims

In commercial lending, as in law, no single practice area exists independently of another. Bankruptcy law often intersects with contract law and even personal injury law when debtors find themselves as the plaintiff or...more

9/5/2013 - Commercial Bankruptcy Commercial Loans Debtors

Rogers Towers: Denial of Discretion: Eleventh Circuit Lacks Jurisdiction to Hear Bankruptcy Appeal

Even one year removed from the Supreme Court’s decision in Stern v. Marshall, which challenged the jurisdiction of a lower bankruptcy court, many practitioners and lenders alike are still left with unanswered questions...more

2/7/2013 - Celotex Commercial Bankruptcy Complex Litigation Jurisdiction

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