In Re Cantwell
United States Bankruptcy Court, D. New Jersey
1Opinion of the Court
OPINION ON CHAPTER 11 CRAM DOWN INTEREST RATE
JUDITH H. WIZMUR, Chief Judge.
The debtors’ Chapter 11 plan has been confirmed in this case. Preserved at confirmation was the issue to be resolved herein, i.e. the interest rate to be paid to the second mortgage when its claim is paid in full, in consummation of the plan.
FACTS
In August 2000, the Cantwells entered into a settlement agreement with the Universal Bonding Insurance Company (“UBIC”) with respect to litigation pending in the New Jersey Superior Court, whereby the Cantwells agreed to pay UBIC $2.0 million in four equal annual payments of…
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