Law360, New York ( March 28, 2013, 5:21 PM EDT) -- On March 1, 2013, the Court of Appeals for the Fifth Circuit held in In re Texas Grand Prairie Hotel Realty ("Texas Hotel") that a bankruptcy court did not err when it confirmed a "cramdown" Chapter 11 plan that proposed to pay a dissenting secured lender interest calculated at the national prime rate plus 1.75 percent, which resulted in an effective annual rate of 5 percent.[1]...
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