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IN RE COUNTRYWOOD INVESTMENT GROUP, LTD.

Bankruptcy No. 389-02584.

117 B.R. 338 (1990)

In re the COUNTRYWOOD INVESTMENT GROUP, LTD., d/b/a Countrywood Apartments, Debtor.

United States Bankruptcy Court, M.D. Tennessee.

August 10, 1990.

Attorney(s) appearing for the Case

William L. Norton, III, Boult, Cummings, Conners & Berry, Nashville, Tenn., for debtor.

W. Neil Thomas, III, Everett L. Hixson, Jr., Chattanooga, Tenn., for New York Life Ins. Co.

MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

The issue is whether an oversecured mortgage holder is entitled to a higher default interest rate on unpaid installments of principal and interest where the confirmed Chapter 11 plan provides for cure of the prepetition default and reinstatement of the original mortgage terms. The default interest rate is not applicable.

The debtor owns an apartment complex....

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