Legal Opinion
In Re Palmer
United States Bankruptcy Court, S.D. Illinois
Decided September 14, 1998No. 19-30184PublishedCited by 5 opinions
1Opinion of the Court
OPINION
KENNETH J. MEYERS, Bankruptcy Judge.
At issue in this case is the appropriate rate of interest to be paid on secured claims in a Chapter 13 proceeding under the so-called “cram down” provision of 11 U.S.C. § 1225(a)(5)(B)(ii). Banterra Bank Group (“Bank”) objects to confirmation of the debt- or’s plan, asserting that the interest rate of 8% to be paid on its secured claims under the debtor’s plan is insufficient to meet the “present value” requirement of § 1225(a)(5)(B)(ii). The Bank maintains that, in order to pay the value of the Bank’s claims over time, the plan must pay interest at…
2Cases cited8 opinions
- Associates Commercial Corp. v. RashSupreme Court of the United States · 1997
- General Motors Acceptance Corporation v. Alphonso Jones, Debtor, Robert M. Wood, TrusteeCourt of Appeals for the Third Circuit · 1993
- Green Tree Financial Servicing Corp. v. SmithwickCourt of Appeals for the Fifth Circuit · 1997
- Melvin and Bonnie Koopmans v. Farm Credit Services of Mid-America, AcaCourt of Appeals for the Seventh Circuit · 1996
- In Re SeguraUnited States Bankruptcy Court, N.D. Oklahoma · 1998
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3Cited by5 opinions
- Cohen v. Lopez (In Re Lopez)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2007
- In Re BivensUnited States Bankruptcy Court, N.D. Illinois · 2005
- In Re TownsendUnited States Bankruptcy Court, N.D. Illinois · 2001
- In Re OgleUnited States Bankruptcy Court, D. Idaho · 2001
- In Re RichardUnited States Bankruptcy Court, E.D. Texas · 1999