In one of the most closely watched business bankruptcy cases in many years, the U.S. Supreme Court decided a secured creditor is entitled to credit bid the amount of its debt at a bankruptcy auction of collateral that is sold as part of a contested plan of reorganization.
The unanimous May 29 decision in RadLAX Gateway Hotel v. Amalgamated Bank , 132 S. Ct. 2065 (2012), resolved a split among the federal circuits.
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