Successful Reorganization and Discharge of Individual Chapter 11
I had a client with several properties located in Las Vegas. The goal was to keep the properties even though they were all delinquent with lenders. Properties were "crammed down" in the bankruptcy case. I successfully filed a Motion to Value (appraisals as evidence of value). Values were "marked down" to current market value. Similarly, I negotiated interest rates as well as amounts to be paid. Reorganization of Chapter 11 was possible because amounts owed as well as the monthly cost of each property were significantly reduced. Therefore, rent(s) received was able to pay for the "new" cost of the mortgage.