MATTER OF SOUTHLAND CORP.

No. 97-10474.

160 F.3d 1054 (1998)

In the Matter of the SOUTHLAND CORPORATION, Debtor. The SOUTHLAND CORPORATION, Appellant, v. TORONTO-DOMINION, Appellee.

United States Court of Appeals, Fifth Circuit.

December 2, 1998.


Attorney(s) appearing for the Case

J. Michael Sutherland, Russell L. Reid, Jr., Vinson & Elkins, Dallas, TX, Anne M. Pike, Vinson & Elkins, Houston, TX, for Appellant.

Marcia L. Goldstein, Michael F. Walsh, Weil, Gotshal & Manges, New York City, Martin A. Sosland, Weil, Gotshal & Manges, Dallas, TX, for Appellee.

Before REYNALDO G. GARZA, JONES and DeMOSS, Circuit Judges.


EDITH H. JONES, Circuit Judge:

This dispute is about what interest rate should apply to seven and one-half months of repayments under a commercial credit agreement —the base rate in the contract or the specified default rate. The bankruptcy court determined that the higher default rate applies for the entire period between the pre-bankruptcy default and the effective date of the reorganization plan. The district court affirmed. We also affirm.

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