A creditor appeals a bankruptcy court order confirming a Chapter 11 cramdown plan and denying the appellant's motion for relief from the automatic stay. 11 U.S.C. §1129(a)(10) does not distinguish between discretionary and economically driven impairment. A plan proponent's motives and methods for achieving compliance with the voting requirement of §1129(a)(10) must be scrutinized, if at all, under the rubric of §1129(a)(3), which imposes on a plan proponent a duty to propose its plan "in good faith and not by any means forbidden by law." The judgment of the bankruptcy court is affirmed. 5th U.S. Circuit Court of Appeals, No. 12-10271, 02-26-2013.
In the Matter of: Village At Camp Bowie I, L.P v. Village At Camp Bowie I L.P.
February 28, 2013