M&P’s Brad Salyer and Tim Schenk recently represented Louisville-based PBI Bank in a case involving commercial real estate property in Brentwood, Tenn. Ultimately, the bankruptcy court sustained the creditor’s objection to a reorganization plan confirmation in the Chapter 11 case. As noted in the article below from the Brentwood Home Page, Judge Randal S. Mashburn said the reorganization plan filed last May by Investors Town Center Partners I, LP was “extremely risky” and contained unrealistic goals.
In a related case in the Western District of Kentucky, Judge Joan A. Lloyd also sustained PBI’s objection to confirmation, finding that the proposed plan unfairly discriminated against PBI and did not meet the fair and equitable treatment standard. In the two cases, the creditor’s combined total claims were approximately $16.5 million.
Learn more about the creditor rights attorneys at Morgan & Pottinger, P.S.C., who represent creditors, trustees and lending institutions in bankruptcy proceedings.
Bankruptcy judge denies Town Center reorganization plan
By Susan Leathers, Editor, Brentwood Home Page