Seeking Clarity On Credit Bidding

Law360, New York (May 17, 2012, 3:05 PM EDT) -- There may soon be an answer to one of the hottest questions in bankruptcy law in recent years: does a secured creditor have an absolute right to credit bid? On April 23, 2012, the United States Supreme Court heard oral arguments in the case of RadLAX Gateway Hotel LLC v. Amalgamated Bank, 132 S. Ct. 845 (2012). At issue in the case is whether a Chapter 11 debtor can sell its encumbered assets at auction without providing its secured lender(s) with the opportunity to credit bid....
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