Legal Opinion
In Re 139-141 Owners Corp.
United States Bankruptcy Court, S.D. New York
Decided February 3, 2004No. 19-35360PublishedCited by 10 opinions
1Opinion of the Court
DECISION ON OVERSECURED CREDITOR’S RIGHT TO DEFAULT INTEREST
ADLAI S. HARDIN, JR., Bankruptcy Judge.
The main issue in this contested matter is whether an oversecured creditor may be deprived of a contract right to a default rate of interest under 11 U.S.C. § 1124(2) for the sole benefit of the debtor, where the mortgaged property has been sold for an amount sufficient to pay all unsecured creditors in full with statutory interest. As a matter of law and on the facts in this case, the answer to this question is “no.” The first mortgagee is entitled to its contract right to default rate…
2Cases cited33 opinions
- Vanston Bondholders Protective Committee v. GreenSupreme Court of the United States · 1947
- In Re Joseph C. Taddeo and Ellen A. Taddeo, Debtors. Elfriede Di Pierro v. Joseph C. Taddeo and Ellen A. Taddeo and Richard J. McCord Interim TrusteeCourt of Appeals for the Second Circuit · 1982
- In the Matter of Madison Hotel Associates, D/B/A the Concourse Hotel, Debtor-AppellantCourt of Appeals for the Seventh Circuit · 1984
- Lewis J. Ruskin, Collateral Trustee v. Charles H. Griffiths, Trustee in ReorganizationCourt of Appeals for the Second Circuit · 1959
- In the Matter of Chicago, Milwaukee, St. Paul and Pacific Railroad Company, Debtor. Appeals of Chicago, Milwaukee, St. Paul and Pacific Railroad Company, Chicago Milwaukee Corporation, and Chicago, Milwaukee, St. Paul and Pacific Railroad Bond and Debenture Holders Protective CommitteeCourt of Appeals for the Seventh Circuit · 1986
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3Cited by10 opinions
- In Re 139-141 Owners Corp.United States Bankruptcy Court, S.D. New York · 2004
- Urban Communicators PCS Limited Partnership v. Gabriel Capital, LPDistrict Court, S.D. New York · 2008
- Premier Entertainment Biloxi LLC v. U.S. Bank National Ass'n (In Re Premier Entertainment Biloxi LLC)United States Bankruptcy Court, S.D. Mississippi · 2010
- In re MosheUnited States Bankruptcy Court, E.D. New York · 2017
- Cliftondale Oaks, LLC v. Silver Lake Enterprises, LLCUnited States Bankruptcy Court, N.D. Georgia · 2006
5 more not listed; retrieve them via the Exa API.