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IN RE LAYMON

Bankruptcy No. 87-11503-A11.

117 B.R. 856 (1990)

In re Wayne LAYMON, Debtor.

United States Bankruptcy Court, W.D. Texas, Austin Division.

June 27, 1990.

Attorney(s) appearing for the Case

Adrian M. Overstreet, Austin, Tex., for James Crozier, trustee.

Conde Thompson Cox, Austin, Tex., for Theron Bradford, trustee.

DECISION ON MOTION TO RECONSIDER

LEIF M. CLARK, Bankruptcy Judge.

This decision addresses the appropriate rate of interest to award to an oversecured creditor under Section 506(b) of the Bankruptcy Code. The creditor wants the court to look to the contract and apply the applicable rate based on that agreement. The creditor adds that, because the debtor was in default when the bankruptcy was filed, the applicable rate is the 18% default rate of interest....

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