Bankruptcy
Jul. 10, 2017
9th Circuit decision addresses cramdown valuation
The en banc panel addressed a cramdown plan where the central issue was the valuation of the secured creditor’s collateral where the foreclosure value exceeds the replacement value.
David S. Kupetz
Shareholder
SulmeyerKupetz PC
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Email: dkupetz@sulmeyerlaw.com
UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
In Chapter 11 and Chapter 13 bankruptcy cases, a reorganization plan may be imposed by court order on an objecting secured creditor. This is commonly known as "cramdown" since the plan is approved by the court over the creditor's objection. In a marked departure from state law, the federal Bankruptcy Code allows a debtor through a confirmed plan to retain and use a secured creditor's collateral. "The Code's cram down option displaces a secured creditor's state-law rig...
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