American Bank v. Coburn (In Re Coburn)

ORDER DETERMINING METHOD OF COMPUTATION OF POSTPETITION INTEREST

DENNIS J. STEWART, Bankruptcy Judge.

The issue before the court in this case is that of the proper computation of the amount to be paid to an oversecured creditor in a chapter 13 case. The claimant, American Bank, contends that it should receive the balance due as of the date of the chapter 13 petition enhanced by the amount in arrears as of the date of the commencement of the chapter 13 plan plus interest on that total sum at the contract rate for the duration of the plan. 1 It is the contention of the secured creditor that the…