GREAT WESTERN BANK v. SIERRA WOODS GROUP

No. 90-16500.

953 F.2d 1174 (1992)

GREAT WESTERN BANK; the Bank of America, Creditors-Appellees, v. SIERRA WOODS GROUP, a California Limited Partnership, Debtor-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided January 13, 1992.


Attorney(s) appearing for the Case

Lee S. Molof and Robert C. Vohl, Henderson & Nelson, Reno, Nev., for debtor-appellant.

Bruce T. Beesley, Gordon & Silver, Reno, Nev., for creditor-appellee Great Western Bank.

Roland K. Martin, Beckley, Singleton, et al., Reno, Nev., for creditor-appellee Bank of America.

Before POOLE, REINHARDT and FERNANDEZ, Circuit Judges.


FERNANDEZ, Circuit Judge:

Sierra Woods Group (Sierra Woods) appeals the district court's decision that Sierra Woods' proposed reorganization plan, which included negative amortization, was not "fair and equitable" under 11 U.S.C. § 1129(b). The bankruptcy court did not make specific factual findings regarding the fairness of the proposed deferral of interest, but rather adopted a per se rule against negative amortization...

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