Supreme Court Rules in RadLAX

On May 29, 2012 the United States Supreme Court issued its opinion in RadLax http://www.supremecourt.gov/opinions/11pdf/11-166.pdf Gateway Hotel v. Amalgamated Bank. The Court held that a debtor’s chapter 11 cramdown plan cannot be confirmed where the debtor proposed the sale of a secured lender’s lien and prohibited the lender to credit-bid at the sale.

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