Duane Morris·BANKRUPTCY-RESTRUCTURING
Third Circuit Bars Secured Creditors' Credit-Bid Right in Reorganization Sales
The Third Circuit held that secured creditors may be prohibited from credit bidding when a bankruptcy plan provides the "indubitable equivalent" of their secured interest, following the Fifth Circuit's approach in Pacific Lumber.
credit-biddingthird-circuitbankruptcy-reorganizationindubitable-equivalentsecured-creditorschapter-11
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