In Re Hickey Properties, Ltd.

MEMORANDUM OF DECISION DENYING CONFIRMATION OF DEBTOR’S CHAPTER 11 PLAN

FRANCIS G. CONRAD, Bankruptcy Judge.

WHBB, a secured creditor, objects 1 to confirmation of Debtor’s Chapter 11 Plan because it proposes $600,000 in post-confirmation financing, secured by a superpriority lien that primes WHBB’s first lien in Debt- or’s assets. We held at the confirmation hearing that the Bankruptcy Code does not authorize superpriority hens for post-confirmation borrowing, and thus sustained WHBB’s objection and denied confirmation of Debtor’s Plan. This Memorandum reduces our bench ruling to a writing.

Debt…