River Road Credit Bid Appeal To Get High Court Review

Law360, New York (December 12, 2011, 12:02 PM EST) -- The U.S. Supreme Court on Monday said it would weigh in on River Road Hotel Partners LLC's bankruptcy — and decide whether Chapter 11 plans need to allow credit bidding by secured lenders in order for an asset sale to be fair and equitable.

The high court granted certiorari to River Road, which is seeking to overturn the Seventh Circuit's denial of its proposed asset sale, which did not allow credit bidding but provided secured lenders with the "indubitable equivalent" of their claims — one of...
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