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Legal Opinion

In Re Laymon

United States Bankruptcy Court, W.D. Texas

Decided June 27, 1990No. 19-50320PublishedCited by 24 opinions

1Opinion of the Court

DECISION ON MOTION TO RECONSIDER

LEIF M. CLARK, Bankruptcy Judge.

This decision addresses the appropriate rate of interest to award to an oversecured creditor under Section 506(b) of the Bankruptcy Code. The creditor wants the court to look to the contract and apply the applicable rate based on that agreement. The creditor adds that, because the debtor was in default when the bankruptcy was filed, the applicable rate is the 18% default rate of interest. The trustee retorts that, after the U.S. Supreme Court’s decision in Ron Pair, 1 the contract is irrelevant to this question, so the court…

2Cases cited40 opinions

  1. United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
  2. United Sav. Assn. of Tex. v. Timbers of Inwood Forest Associates, Ltd.Supreme Court of the United States · 1988
  3. Vanston Bondholders Protective Committee v. GreenSupreme Court of the United States · 1947
  4. United States v. Universal C. I. T. Credit Corp.Supreme Court of the United States · 1952
  5. Sexton v. DreyfusSupreme Court of the United States · 1911

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3Cited by24 opinions

  1. In the Matter of Wayne M. Laymon, Debtor. Theron Bradford, Trustee v. James Crozier, TrusteeCourt of Appeals for the Fifth Circuit · 1992
  2. In Re Landing Associates, Ltd.United States Bankruptcy Court, W.D. Texas · 1990
  3. In Re Dow Corning Corp.United States Bankruptcy Court, E.D. Michigan · 1999
  4. Galveston Independent School District v. Heartland Federal Savings & Loan Ass'nDistrict Court, S.D. Texas · 1993
  5. In Re MelenyzerUnited States Bankruptcy Court, W.D. Texas · 1992

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