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
A secured creditor who obtains a foreclosure judgment has the ability to “credit bid” at the foreclosure sale up to the full amount indicated in the judgment, without being required to deposit any funds with the Clerk of the...more
A recent report entitled, "Florida Homeowners Foreclose On Deadbeat Banks", provides an interesting and unusual commentary on one effect of the on-going "soft" real estate market, especially for an "REO" property which the...more
In This Issue:
- March 9, 2012: Publication of Dynegy Examiner’s Report
- March 29, 2012: SDNY Rules That 363 Sales May Not Be Free and Clear of Future Claims
- May 15, 2102: Eleventh Circuit Rules in...more
On May 29, 2012, the United States Supreme Court decided Radlax Gateway Hotel, LLC v. Amalgamated Bank, ruling that secured creditors cannot be denied the right to credit-bid on the sale of property or assets in the context...more
May a Chapter 11 plan permit a debtor to auction property free and clear of a creditor’s lien while preventing that creditor from credit-bidding the amount of its debt? A question that split the U.S. Circuit Courts was...more
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