Legal Opinion
Crocker National Bank v. American Mariner Industries, Inc. (In Re American Mariner Industries, Inc.)
United States Bankruptcy Court, C.D. California
Decided April 23, 1981No. Bankruptcy No. SA 80-03623 PE, Adv. No. SA 81-0163PublishedCited by 19 opinions
1Opinion of the Court
MEMORANDUM OF DECISION
PETER M. ELLIOTT, Bankruptcy Judge.
The first issue to be decided is, if the value of the collateral is not depreciating, whether an undersecured creditor is entitled to interest on the present value of the collateral as adequate protection. The second issue is whether the debtor will be unable to confirm a plan because the plaintiff has a right to elect, under § 1111(b) of the Code, to be treated as a secured creditor in the full amount of its claim.
INTEREST AS ADEQUATE PROTECTION
For purposes of this decision only, I find the value of the bank’s collateral to be…
2Cases cited3 opinions
- Metropolitan Life Ins. v. Murel Holding Corp.Court of Appeals for the Second Circuit · 1935
- Wright v. Union Central Life InsuranceSupreme Court of the United States · 1941
- Midlantic National Bank v. Anchorage Boat Sales, Inc. (In Re Anchorage Boat Sales, Inc.)United States Bankruptcy Court, E.D. New York · 1980
3Cited by19 opinions
- In Re American Mariner Industries, Inc., Debtor. Crocker National Bank v. American Mariner Industries, Inc., Debtor-AppelleeCourt of Appeals for the Ninth Circuit · 1984
- In Re Pine Lake Village Apartment Co.United States Bankruptcy Court, S.D. New York · 1982
- In Re Briggs Transportation Company, Debtor. Lend Lease, a Division of National Car Rental Systems, Inc. v. Briggs Transportation Company, in Re Briggs Transportation Company, Debtor. General Motors Acceptance Corporation v. Briggs Transportation CompanyCourt of Appeals for the Eighth Circuit · 1986
- Metropolitan Life Insurance v. Monroe Park (In Re Monroe Park)District Court, D. Delaware · 1982
- Barclays Bank of New York, N.A. v. Saypol (In Re Saypol)United States Bankruptcy Court, S.D. New York · 1983
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