Some of you who read the title of this post may have done a quick double-take, as it is well established that lenders may not collect a deficiency on a nonrecourse loan under state law. However, the Bankruptcy Code provides...more
Can a Chapter 11 debtor propose a plan to sell a lender’s collateral free and clear of the lender’s lien without allowing the lender to credit bid? The Supreme Court says “no”—unless there’s cause....more
Seventh Circuit holds that new equity in a Chapter 11 debtor must be auctioned…and that a creditor may credit bid.
In a Chapter 11 bankruptcy, if the debtor’s owners want to continue to own the debtor after...more