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RADLAX GATEWAY HOTEL v. AMALGAMATED BANK

No. 11-166.

132 S.Ct. 2065 (2012)

182 L.Ed.2d 967

RADLAX GATEWAY HOTEL, LLC, et al., Petitioners v. AMALGAMATED BANK.

Supreme Court of United States.

Decided May 29, 2012.

Attorney(s) appearing for the Case

David M. Neff , Chicago, IL, for Petitioners.

Deanne E. Maynard , Washington, DC, for Respondent.

Sarah E. Harrington , for the United States as amicus curiae, by special leave of the Court, supporting the Respondent.

David M. Neff , Counsel of Record, Brian A. Audette , Eric E. Walker , Perkins Coie LLP, Chicago, IL, for Petitioners.

Adam A. Lewis , Morrison & Foerster LLP, San Francisco, CA, Norman S. Rosenbaum , Morrison & Foerster LLP, New York, NY, Deanne E. Maynard , Counsel of Record, Brian R. Matsui , Marc A. Hearron , Morrison & Foerster LLP, Washington, DC, for Respondent, Amalgamated Bank.

Justice SCALIA delivered the opinion of the Court.

We consider whether a Chapter 11 bankruptcy plan may be confirmed over the objection of a secured creditor pursuant to 11 U.S.C. § 1129(b)(2)(A) if the plan provides for the sale of collateral free and clear of the creditor's lien, but does not permit the creditor to "credit-bid" at the sale.

I

In 2007, petitioners RadLAX Gateway Hotel, LLC, and RadLAX Gateway Deck, LLC (hereinafter debtors...

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