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Sixth Circuit affirms bankruptcy court's decision permitting cramdown of a secured creditor's interest in an unattached mobile home and land

Reinhardt v. Vanderbilt Mortgage and Finance Inc. (In re Reinhardt)

563 F.3d 558 (6th Cir. Ohio 2009)

USA, Insolvency & Restructuring, Litigation, Real Estate, Bricker & Eckler LLP, Bankruptcy, Debtor, Unsecured debt, Interest, Federal Reporter, Mortgage loan, Personal property, Secured creditor, US Code, Title 11 of the US Code, United States bankruptcy court, Sixth Circuit
Sixth Circuit agrees that a vendor's administrative-expense priority on its reclamation claim survives after sale of goods subject to reclamation

On July 17, 2008, in Phar-Mor, Inc. v. McKesson Corp. (Nos 05-4525/4526), the Sixth Circuit affirmed the Northern District of Ohio's ruling that a vendor's administrative expense priority on its reclamation claim survives, even after the goods that are subject to reclamation are sold and the proceeds are used to satisfy a secured creditor's superior claim. Full text of the opinion.

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USA, Ohio, Insolvency & Restructuring, Litigation, Bricker & Eckler LLP, Bankruptcy, Debtor, Liquidation, Common law, Secured creditor, US Code, Uniform Commercial Code (USA), United States bankruptcy court, Sixth Circuit