Selecting Appropriate Interest Rate
Posted: Thu Jan 19, 2012 1:30 pm
You might find TA's opinion in North Valley Mall helpful.
Peter M. Lively, JD, MBA
The Personal Financial Law Center
A-Bankruptcy-Attorney.com
Culver City (310) 391-2400
To: "cdcbaa@yahoogroups.com"
Sent: Thursday, January 19, 2012 1:18 PM
Subject: Re: [cdcbaa] Selecting Appropriate Interest Rate
You might find TA's opinion in North Valley Mall helpful.
Peter M. Lively, JD, MBA
The Personal Financial Law Center
A-Bankruptcy-Attorney.com
Culver City (310) 391-2400
________________________________
To: "cdcbaa@yahoogroups.com"
Sent: Thursday, January 19, 2012 10:16 AM
Subject: RE: [cdcbaa] Selecting Appropriate Interest Rate
The Debtor is an LLC that has two mortgages on two commercial condo offices. The first mortgage is about $200,000 with an interest rate of 9.3%.educe the interest rate and is willing to keep the principal balance the same. A lien strip would allow this creditor to control the unsecured class and sink the plan. The Debtor has proposed 2.5%, which the creditor opposes. The creditor has not proposed a different rate. A cramdown looks to be possible, but at a recent hearing, the court mentioned that we might need to bring in experts to determine the rate of interest.
The other mortgage is very similar to the one described above.
Link Schrader, Attorney
Law Office of Link W. Schrader
Mail: P.O. Box 3723, Tustin, CA 92781
Office: 106 W. 4th Street, Suite #308, Santa Ana, CA 92701
Orange County: (714) 542-5922; Los Angeles: (310) 413-6924
San Diego: (619) 952-8342; Fax: (310) 878-4158
www.schrader-law.com
The post was migrated from Yahoo.