On June 28, 2011, in a decision of great significance to secured creditors, the United States Court of Appeals for the Seventh Circuit held that secured creditors have a statutory right to credit bid their debt at an asset sale conducted under a so-called “cramdown” plan.
Seventh Circuit Upholds Secured Creditors' Credit Bid Rights Under Cramdown Plan
In a decision of great significance to secured creditors, the United States Court of Appeals for the Seventh Circuit has held that secured creditors have a statutory right to credit bid their debt at an asset sale conducted under a so-called "cramdown" plan.
By
Lawrence V. Gelber, James T. Bentley, And Mike PaekThis premium content is locked for The Bankruptcy Strategist subscribers only
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