Matter of DRW Property Co. 82

How courts have described this case

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

• if a property securing a claim is abandoned or foreclosed during Chapter 11 case, a non-recourse creditor is not entitled to deficiency claim
• Congress’ failure to include abandonments, foreclosures, and transfers of property in the exception to 1111(b) appears to be an unintentional omission rather than an expression of Congressional intent
• “The failure to include abandonments or motions to lift stay in the specific statutory exceptions to the recourse treatment of non-recourse claims under § 1111(b
• “Section 1111(b) represents an attempt by Congress to create a balance between the debtor's need for protection and a creditor's right to receive equitable treatment.... [S]ection 1111(b
• “ ‘It was obviously not intended by according recourse ... to nonrecourse claims [under section 1111(b) ] that the holders of these claims would be given any additional rights under state law.’ ”
• “The transformation of non-recourse claims into recourse claims is for distribution purposes only in a Chapter 11 reorganization case where the debtor has been given the power to retain encumbered property (over the objection of the secured creditor

Source: CourtListener parenthetical corpus (CC0).