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GENERAL MOTORS ACCEPTANCE CORP. v. JONES

No. 92-5351.

999 F.2d 63 (1993)

GENERAL MOTORS ACCEPTANCE CORPORATION, Appellant, v. Alphonso JONES, Debtor, Robert M. Wood, Trustee.

United States Court of Appeals, Third Circuit.

Decided July 20, 1993.

Attorney(s) appearing for the Case

Robert Szwajkos (Argued), Lavin, Coleman, Finarelli & Gray, Philadelphia, PA, for appellant.

David Paul Daniels, Jeannette M. Amodeo (Argued), David Paul Daniels, A Professional Corp., Camden, NJ, for appellees.

Before: STAPLETON and COWEN, Circuit Judges, and DUBOIS, District Judge.

OPINION OF THE COURT

STAPLETON, Circuit Judge:

These chapter 13 bankruptcy cases require us to determine the rate of interest which will assure that a secured creditor receives payments under a chapter 13 plan having a present value equal to the value of its allowed secured claim, as required by 11 U.S.C. § 1325(a)(5)(B)(ii). This is a question of first impression in this Circuit. We hold that the rate of interest under § 1325(a)(5)(B)(ii) is that...

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