Replacement Value or Foreclosure Value – Does Use of Collateral Matter?

By Holly Davala, Staff Attorney for Chapter 13 Trustee Craig Shopneck

In re Sunnyslope Housing Limited Partnership (First Southern National Bank v. Sunnyslope Housing Limited Partnership), Nos. 12-17241, 12-17327, 13-16164, 13-16180, (9th Cir. May 26, 2017).

Case Summary:

The en banc court affirmed the district court’s judgment which affirmed the bankruptcy court’s affirmance of a Chapter 11 plan, as modified on remand from the district court. The court held under Associates Commercial Corp. v. Rash, 520 U.S. 953 (1997) that the “value standard . . .

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