OPINION
THOMAS E. CARLSON, Chief Judge.
Debtor, whose sole asset is an office building that is substantially overencumbered, attempts to confirm a plan of reorganization under the "new value" exception to the absolute priority rule. I conclude that the plan is not fair and equitable, whether or not it satisfies the new value exception, because it does not serve recognized goals of reorganization, and because it would unduly undermine the provisions...
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