11th Circuit: Oversecured Creditor Entitled To Limited Recovery
ATLANTA – A panel of the 11th Circuit U.S. Court of Appeals on Nov. 30 ruled that an oversecured creditor that granted the debtor a loan prior to bankruptcy was entitled only to the contract rate of interest on that loan for the period of time that elapsed from the filing of the bankruptcy petition until confirmation of the Chapter 13 payment plan (First United Security Bank v. Daniel W. Garner [In Re: Daniel W. Garner], No. 11-10465, Chapter 13, 11th Cir.; 2011 U.S. App. LEXIS 23811).
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