Case Study: In Re Windmill Durango Office

Law360, New York (July 26, 2012, 1:58 PM EDT) -- In a recent decision in In re Windmill Durango Office LLC, the Bankruptcy Appellate Panel for the Ninth Circuit Court of Appeals concluded that the bankruptcy court had not abused its discretion in denying a creditor’s motion to change its vote on the debtor’s plan of reorganization where the holder of the unsecured claim had purchased the claim for the apparent sole purpose of blocking confirmation of the debtor’s plan so as to prevent its other, secured, claim from being crammed down. The BAP, however, left...
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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.