In re Sunnyslope Housing, L.P. (First Southern Nat’l Bank v. Sunnyslope Housing, L.P.)
In context of imposing a cramdown plan in the bankruptcy reorganization of a debtor who had obtained a HUD loan to build an affordable housing project, the bankruptcy court should have valued HUD’s claim as whatever the property would ordinarily be worth absent any restriction for use as affordable housing (even though the debtor ultimately intended to continue with the… Read More