In the Matter of Greystone III Joint Venture, Debtor. Phoenix Mutual Life Insurance Company v. Greystone III Joint Venture

U.S. Court of Appeals, Fifth Circuit · Decided 1992-02-27

Cited by 166 later decision(s) in our corpus · see the citation network in Lexace

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EDITH H. JONES, Circuit Judge: This appeal pits a debtor whose only significant asset is an office building in the troubled Austin, Texas real estate market against a lender who possesses a multi-mil-lion dollar lien on the property. After obtaining bankruptcy relief under Chapter 11, Greystone III proposed a “cramdown” plan of reorganization, hoping to force a write-down of over $3,000,000 on the secured lender’s note and…

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