Sunnyslope Has Important Ramifications For Secured Lenders

Sunnyslope Has Important Ramifications For Secured Lenders

Jun 07, 2017

Article

Co-author, Law360, June 7, 2017

On May 26, 2017, an en banc panel of the Ninth Circuit Court of Appeals issued an opinion with important ramifications for secured lenders in In re Sunnyslope Housing Limited Partnership.[1] The Ninth Circuit held that for purposes of determining the amount of a secured claim under a Chapter 11 plan, the collateral must be valued based on the debtor’s proposed post-reorganization use of the property, even if the collateral would generate more value in a foreclosure sale.

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