United States Supreme Court

Four justices conclude that the "prime-plus" or "formula rate" best meets the purposes of the Bankruptcy Code's cram down provision; because the proposed 9.5% interest rate is higher than the risk-free rate, it is sufficient to account for the time value of money, which is all 11 U.S.C. section 1325(a)(5)(B)(ii) requires.

Appellate Information

• Decided 05/17/2004
• Published 05/17/2004

Judges

Court

• United States Supreme Court

Counsel