In Re 500 Fifth Avenue Associates

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• If a lien has no value, the holder of that claim cannot make the § 1111(b) election
• Timbers test requires a showing by the debtor and a determination by the bankruptcy court that the plan is not patently unconfirmable and has a realistic chance of being confirmed.
• “The purpose of the section 1111(b) election is to allow the undersecured creditor a right to potentially dominate the vote within the unsecured class; the larger the nonrecourse claim, the larger that claimant’s voice sounds.”
• a right of recourse against the debtor’s general partners did not justify separate classification

Source: CourtListener parenthetical corpus (CC0).