Legal Opinion
Liberty National Enterprises v. Ambanc La Mesa Ltd. Partnership (In re Ambanc La Mesa Ltd. Partnership)
Court of Appeals for the Ninth Circuit
Decided May 28, 1997No. 95-16872PublishedCited by 9 opinions
1Opinion of the Court
RONEY, Senior Circuit Judge:
Liberty National Enterprises, the only secured creditor in this single-asset bankruptcy of a 256-unit apartment project, appeals the confirmation of a Chapter 11 plan of reorganization which utilized the “cramdown” provisions of 11 U.S.C. § 1129(b) of the Bankruptcy Code. We reverse on two grounds.
The bankruptcy court first, erroneously failed to include cash collateral, the sum of rents accumulated less operating expenses at the time of the confirmation of the Plan, in the present value securing Liberty’s claim; and second, violated the absolute priority rule,…
2Cases cited23 opinions
- U.S. Bancorp Mortgage Co. v. Bonner Mall PartnershipSupreme Court of the United States · 1994
- Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
- Northern Pacific Railway Co. v. BoydSupreme Court of the United States · 1913
- In Re Bonner Mall Partnership, Debtor. Bonner Mall Partnership v. U.S. Bancorp Mortgage Co.Court of Appeals for the Ninth Circuit · 1993
- In the Matter of Woodbrook Associates, Debtor-AppellantCourt of Appeals for the Seventh Circuit · 1994
18 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- In Re Crosscreek Apartments, Ltd.United States Bankruptcy Court, E.D. Tennessee · 1997
- In Re Mount Carbon Metropolitan DistrictUnited States Bankruptcy Court, D. Colorado · 1999
- In Re Arden Properties, Inc.United States Bankruptcy Court, D. Arizona · 2000
- Wiersma v. Bank of the West (In re Wiersma)Court of Appeals for the Ninth Circuit · 2007
- In re RYYZ, LLCUnited States Bankruptcy Court, E.D. New York · 2013
4 more not listed; retrieve them via the Exa API.