The Eastern District of Pennsylvania held that secured creditors do not have a right to credit bid their claim when the sale of a debtor’s assets is conducted under a plan of reorganization.
USA, Pennsylvania, Insolvency & Restructuring, Litigation, McDermott Will & Emery, Bankruptcy, Credit (finance), Debtor, Unsecured debt, Collateral (finance), Limited liability company, Debt, Fair market value, Secured creditor, Secured loan, Title 11 of the US Code, United States bankruptcy court, Third Circuit, US District Court for Eastern District of Pennsylvania