In a 2-1 decision, the Bankruptcy Appellate Panel for the Ninth Circuit held that the absolute priority rule as set forth under 11 USC Sec. 1129(b)(2)(B)(ii) is inapplicable in individual chapter...
Judge(s):
Hon. Philip H. Brandt, appealed order denying confirmation of the Debtors' plan; Hon. James Marlar, appealed order converting the case to one under chapter 7. BAP: Majoriy decision: Hon. Ralph B. Kirscher and Hon. Scott Clarkson (by designation); Dissent: Hon. Meredith Jury
A secured creditor can object to a plan to protect its lien from unfavorable treatment, but a plan can be crammed down over objection provided one of three subsections of Bankruptcy Code §...
Summarized by Cara Murray , Whiteford Taylor Preston LLP
14 years 2 months ago
Citation:
John R. Berhmann v. Nat'l Heritage Foundation, Inc., ___ F.3d ___ (4th Cir. 2011) (Case No.:10-2015); 2011 U.S. App. LEXIS 24454
Ruling:
The United States Court of Appeals for the Fourth Circuit (the “Fourth Circuit”) held that equitable relief in the form of non-debtor release provisions in a plan of reorganization is...
Judge(s):
Before Traxler, Chief Judge, and Agee and Diaz, Circuit Judges (opinion by Judge Diaz)
