The Supreme Court heard oral arguments on April 23 in the case of Radlax Gateway Hotel, et al., v. Amalgamated Bank (11-166). At issue in the case was whether a debtor may pursue a chapter 11 plan that proposes to sell assets free of liens without allowing the secured creditor to credit bid, but instead providing it with the indubitable equivalent of its claim under Section 1129(b)(2)(A)(iii) of the Bankruptcy Code. Click here to view a transcript of the oral arguments. A panel of experts gathered on April 24 to discuss the oral arguments made before the Supreme Court in the RadLAX case.
David Neff of Perkins Coie LLP (Chicago), the counsel of record for petitioner RadLAX Gateway Hotel LLC and participant in the argument.
Jason S. Brookner of Andrews Kurth LLP (New York), whose article was cited in the brief for the respondent.
Prof. Charles Tabb, the Alice Curtis Campbell Professor of Law at the University of Illinois College of Law, who recently published a paper titled "Credit Bidding, Security, and the Obsolescence of Chapter 11."
ABI Resident Scholar Prof. David Epstein.