Tag Archives: cramdown

Pre-Bankruptcy Stay Waiver: Who Cares, It’s Not Enforceable Anyway – Right?

In Re 4848, LLC, 490 B.R. 343 (Bankr. E.D. Wis. 2013) – The debtor had entered into a forbearance agreement with its mortgage lender that included a stipulation that the lender would be entitled to relief from the automatic stay if … Continue reading

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Friendly Creditor: On What Basis Can a Plan Vote Be Disregarded?

In re Marble Cliff Crossing Apartments, LLC, 485 B.R. 849 (Bankr. S.D. Ohio 2013) – A secured creditor (MTGLQ) challenged the votes of another creditor that purchased claims on the grounds that either (1) the creditor should be treated as an … Continue reading

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Artificial Impairment of Claims: Can The Tail Wag The Dog in Confirming a Plan?

Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village at Camp Bowie I, L.P.), 710 F.3d 239 (5th Cir. 2013) – To confirm the debtor’s proposed plan of reorganization over the mortgage lender’s objections, the … Continue reading

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Prime-Plus Cramdown Rate: You Can Forget Market Reality

Wells Fargo Bank Nat’l Ass’n v. Texas Grand Prairie Hotel Realty, L.L.C. (In re Texas Grand Prairie Hotel Realty, L.L.C.), 710 F.3d (5th Cir. 2013) – In this case the debtors proposed a plan of reorganization for four hotel properties.  The … Continue reading

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Bankruptcy Plan: Burgeoning “New Value” Competitive Bidding Requirement

In re Castleton Plaza, LP, 707 F.3d 821 (7th Cir. 2013) – A debtor that owned a shopping center proposed a plan of reorganization that gave the spouse of the debtor’s owner 100% of the equity of the reorganized debtor in … Continue reading

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Mortgagee “Cramdown”: Sometimes You Just Can’t Win

Fed. Nat’l Mortgage Ass’n v. Village Green I, GP, 483 B.R. 807 (W.D. Tenn. 2012) – Fannie Mae objected to a “cramdown” plan of reorganization, arguing that (i) the accepting class of creditors was artificially impaired, (ii) the modification of its … Continue reading

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