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In re Sunnyslope Housing L.P. (First Southern National Bank v. Sunnyslope Housing L.P.)

Bankruptcy court errs in valuing creditor's interest in light of debtor's proposed use of the property as affordable housing, resulting in greatly diminished value.





Cite as

2016 DJDAR 3847

Published

Apr. 22, 2016

Filing Date

Apr. 21, 2016


IN THE MATTER OF:

SUNNYSLOPE HOUSING LIMITED PARTNERSHIP,

Debtor,

 

FIRST SOUTHERN NATIONAL BANK,

Plaintiff-Appellant,

v.

SUNNYSLOPE HOUSING LIMITED

PARTNERSHIP,

Defendant-Appellee.

 

No. 12-17241

D.C. No.2:11-cv-02579-HRH

 

IN THE MATTER OF:

SUNNYSLOPE HOUSING LIMITED PARTNERSHIP,

Debtor,

 

SUNNYSLOPE HOUSING LIMITED PARTNERSHIP,

Plaintiff-Appellant,

v.

FIRST SOUTHERN NATIONAL BANK,

Defendant-Appellee.

 

No. 12-17327

D.C. No.2:11-cv-02579-HRH

 

IN THE MATTER OF:

SUNNYSLOPE HOUSING LIMITED PARTNERSHIP,

Debtor,

 

FIRST SOUTHERN NATIONAL BANK,

Plaintiff-Appellant,

v.

SUNNYSLOPE HOUSING LP,

Defendant-Appellee.

 

No. 13-16164

D.C. No. 2:12-cv-02700-HRH

 

IN THE MATTER OF:

SUNNYSLOPE HOUSING LIMITED PARTNERSHIP,

Debtor,

 

SUNNYSLOPE HOUSING LP,

Plaintiff-Appellant,

v.

FIRST SOUTHERN NATIONAL BANK,

Defendant-Appellee.

 

No. 13-16180

D.C. No. 2:12-cv-02700-HRH

United States Court of Appeals

Ninth Circuit

Filed April 21, 2016

 

 

Before: Alex Kozinski,

Richard A. Paez, and

Richard R. Clifton,

Circuit Judges.

 

ORDER

 

The slip opinion filed on April 8, 2016, is hereby amended as follows:

 

1.        On page 6 of the slip opinion, line 4, change <section1325(a)(5)(B) of the Code>  to <section 1129(b) of the Code>.

 

2.        On page 11 of the slip opinion, lines 6?7, change <11 U.S.C. § 1325(a)(5)(B)> to <11 U.S.C. § 1129(b)>.

 

3.        On page 25 of the slip opinion, lines 1?7, change <Under section 1325(a)(5) of the Code, a plan?s treatment of a secured claim can be confirmed if one of three conditions is satisfied: the creditor accepts the plan, the debtor surrenders the property, or the debtor invokes the cram down power. Rash, 520 U.S. at 957.> to <Under section 1129(b) of the Code, a plan can be confirmed even without the consent of all impaired classes of creditors if the debtor invokes the cram down power.>.

 

With these amendments, the petition for panel rehearing is DENIED as moot. Future petitions for panel rehearing and rehearing en banc may be filed from this Order.

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