Ninth Circuit: Affordable Housing Restrictions Do Not Limit Value of Secured Claim in Bankruptcy Cram Down
In In re Sunnyslope Housing Ltd. Partnership
, No. 12-17241, 2016 WL 1392318 (9th Cir. Apr. 8, 2016), a divided panel of the Ninth Circuit held that affordable housing restrictive covenants should not affect the valuation of a creditor’s secured interest in the property in a Chapter 11 bankruptcy cram down where the covenants are subordinate to the mortgage | Read more about this decision.