Pennsylvania district court denies secured creditors’ right to credit bid in sale auction where debtors had proposed to provide them the “indubitable equivalent” of their claims under plan of reorganization

Date

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Location
USA
Authors
Michael L. Cook
Lawrence V. Gelber
Adam C. Harris
David M. Hillman
Brian D. Pfeiffer
Firm
Schulte Roth & Zabel LLP
Tags
USA
Pennsylvania
Insolvency & Restructuring
Litigation
Schulte Roth & Zabel LLP
Credit (finance)
Debtor
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