Law360, New York (June 05, 2012, 12:28 PM ET) -- Over the past 20 years, the U.S. Supreme Court and Ninth Circuit Court of Appeals have generally favored secured lenders in Chapter 11 real estate cases.
See, e.g., Bank of America National Trust & Savings Ass’n v. 203 North LaSalle Street Partnership, 526 U.S. 434 (1999) (plan of reorganization which failed to pay secured claim in full, but granted equity holders the exclusive right to contribute new value in order to retain their interests in the debtor was unconfirmable); Bakarat v. Life Insurance Company of Virginia,...
How To Escape The Recent 9th Circ. Cramdown Craze
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