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Indiana State Police Pension Trust V. Chrysler: A Missed Opportunity To Improve Collateral Valuation Doctrine, Jason A. Pan
Indiana State Police Pension Trust V. Chrysler: A Missed Opportunity To Improve Collateral Valuation Doctrine, Jason A. Pan
Jason A Pan
Section 506(a)(1) of the Chapter 11 bankruptcy code addresses how to value collateral. This issue arose in Indiana State Police Pension Trust v. Chrysler, but unfortunately the Supreme Court declined to hear the case. As a result the current doctrine on whether to value collateral according to a liquidation versus a going concern standard is Assocs. Commercial Corp. v. Rash, which held that collateral should be valued according to its proposed use. The Rash doctrine, that collateral is to be valued using a going concern standard when proposed to be used in a going concern context, creates opportunity for economic …
Simultaneous Distress Of Residential Developers And Their Secured Lenders: An Analysis Of Bankruptcy & Bank Regulation, Sarah P. Woo
Simultaneous Distress Of Residential Developers And Their Secured Lenders: An Analysis Of Bankruptcy & Bank Regulation, Sarah P. Woo
Sarah P Woo
With falling home prices and home foreclosures currently acknowledged as a severe problem in the U.S., more attention needs to be paid to the contributing phenomenon of residential developers undergoing liquidation, which has left behind a trail of partially-completed or abandoned properties. In order to understand this phenomenon, we analyzed 222 residential developers that filed Chapter 11 bankruptcy petitions between November 2007 and December 2008. We find that only a very small proportion of these developers, as compared to previous similar large studies, confirmed a reorganization plan. Most cases ended in liquidations. In the sample, 72.5% of the cases showed …