Associates Commercial Corporation v. Rash
United States Supreme Court
520 U.S. 953 (1997)
Relevant factsFree
Rash (defendant) sought to retain his truck under a Chapter 13 cramdown plan, valuing it at its lower foreclosure/sale value ($28,500) rather than replacement value; ACC (plaintiff), the secured creditor, argued the truck should instead be valued at what Rash would have to pay for a comparable replacement vehicle, and the lower courts sided with Rash based on the foreclosure-value standard.
IssueFree
Whether, where a debtor seeks to retain and use a secured creditor's collateral under the Chapter 13 cramdown provision of the Bankruptcy Code, the value of the collateral should be the amount that the creditor would receive through foreclosure and sale of the collateral.
Related cases
Florafax International, Inc. v. GTE Market Resources, Inc.933 P.2d 282 (1997)Amex Life Assurance Company v. Superior Court930 P.2d 1264 (1997)Alaska Pacific Trading Company v. Eagon Forest Products, Inc.933 P.2d 417 (1997)BMW Financial Services v. Smoke Rise Corp.486 S.E.2d 629 (1997)Lane Enterprises, Inc. v. L.B. Foster Co.700 A.2d 465 (1997)