Legal Opinion
In re Residential Capital, LLC
United States Bankruptcy Court, S.D. New York
Decided April 22, 2014No. Case No. 12-12020 (MG) Jointly AdministeredPublishedCited by 7 opinions
1Opinion of the Court
MEMORANDUM OPINION AND ORDER GRANTING CITIBANK’S MOTION FOR DEFAULT INTEREST AND COUNSEL FEES AND EXPENSES
MARTIN GLENN, UNITED STATES BANKRUPTCY JUDGE
The Bankruptcy Code entitles overse-cured creditors to postpetition interest, but the Code does not describe how to calculate it. As an oversecured creditor, Citibank seeks postpetition interest at the default rate governed by its contract (the “Agreement”) with two Debtor entities. The ResCap Liquidating Trust (the “Trust”) opposes the contract default rate, arguing that it is inequitable because it would harm unsecured creditors and because…
2Cases cited14 opinions
- Vanston Bondholders Protective Committee v. GreenSupreme Court of the United States · 1947
- Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co.Supreme Court of the United States · 2007
- Lewis J. Ruskin, Collateral Trustee v. Charles H. Griffiths, Trustee in ReorganizationCourt of Appeals for the Second Circuit · 1959
- In the Matter of TERRY LIMITED PARTNERSHIP, Debtor. Appeal of INVEX HOLDINGS, N.V.Court of Appeals for the Seventh Circuit · 1994
- Citibank, N.A. v. Nyland (Cf8) Ltd., the Republic of the Philippines, New York Land Company A/K/A Great Neckers Realty, Inc.Court of Appeals for the Second Circuit · 1989
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3Cited by7 opinions
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- 3MB, LLCUnited States Bankruptcy Court, E.D. California · 2019
- 53 Stanhope LLCUnited States Bankruptcy Court, S.D. New York · 2021
- In re: 33 Mako, LLCUnited States Bankruptcy Court, S.D. New York · 2026
- In re: Latex Foam International, LLCDistrict Court, D. Connecticut · 2023
2 more not listed; retrieve them via the Exa API.