Supreme Court sides with bank on right to credit-bid at auction

Secured lenders must be allowed to credit-bid at an auction that would extinguish their interest in the collateral as part of a debtor’s Chapter 11 cramdown plan, the Supreme Court has ruled. The case involved a Chapter 11 bankruptcy filing by the owners of a failed hotel construction project. A creditor bank objected to the owners’ ...

Leave a Reply

Your email address will not be published. Required fields are marked *