Impact Of In Re Metaldyne Corp.

Law360, New York (September 14, 2009, 4:14 PM EDT) -- It is undisputed that the Bankruptcy Code allows a lender holding a claim secured by property that is being sold at a sale under section 363 of the Bankruptcy Code to offset the amount of its claim against the purchase price of the property by credit bidding its secured claim. See 11 U.S.C. § 363(k).

As seen in In re Hickey Properties Ltd., 181 B.R. 171, 173 (Bankr. D. Vt. 1995), a creditor has standing to credit bid when its claims are secured by a lien...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.