Elawyers Elawyers
Washington| Change

IN RE RIVER CANYON REAL ESTATE INVESTMENTS, LLC, 12-20763 EEB (Ch. 11). (2013)

Court: District Court, D. Colorado Number: infdco20130613858 Visitors: 4
Filed: Jun. 12, 2013
Latest Update: Jun. 12, 2013
Summary: ORDER JOHN L. KANE, Senior District Judge. This bankruptcy proceeding is set for a confirmation hearing on Debtor's Chapter 11 reorganization plan next week. It is before me on an appeal filed by creditor United Water & Sanitation District ("United") challenging certain pre-confirmation hearing real property valuation orders issued by the bankruptcy court under 11 U.S.C. 506(a). United contends the bankruptcy court's valuation orders are final and appealable, and argues the bankruptcy judge
More

ORDER

JOHN L. KANE, Senior District Judge.

This bankruptcy proceeding is set for a confirmation hearing on Debtor's Chapter 11 reorganization plan next week. It is before me on an appeal filed by creditor United Water & Sanitation District ("United") challenging certain pre-confirmation hearing real property valuation orders issued by the bankruptcy court under 11 U.S.C. § 506(a). United contends the bankruptcy court's valuation orders are final and appealable, and argues the bankruptcy judge decision to adopt a particular method for valuing the real property lots at issue was erroneous and substantially reduces the value of its claim. In the event I agree with the bankruptcy judge that the valuation orders are not final and appealable directly, United asks that I treat its Notice of Appeal as a motion for leave to file an interlocutory appeal. Whatever the posture of its appeal, United moves separately to stay the confirmation hearing pending its resolution. See Motion to Stay Plan Confirmation Pending Appeal (Doc. 11) filed May 10, 2013.

The bankruptcy court has already denied a request by United to stay the confirmation hearing, rejecting United's contention that the valuation orders are final and appealable and finding insufficient grounds to allow United to proceed interlocutorily. See Order Denying Stay Pending Appeal (Bankr. Doc. 388)(attached as Doc. 11-1 to United's Motion to Stay in the district court). I find the bankruptcy court's reasoning sound. There are many moving parts to the confirmation inquiry, and the entirety of United's appeal will be moot if the Debtor's plan is rejected or if the Douglas Country District Court issues rulings impacting United's standing to pursue its claim as a "special district" under C.R.S. § 32-1-101 et seq. I am unpersuaded that the authorities relied on by United warrant tying up the proceedings below so that a potentially secured creditor may proceed to retry an evidentiary issue thoughtfully handled below by the bankruptcy court.

The Motion by United Water & Sanitation District to Stay Plan Confirmation Pending Appeal (Doc. 11) is DENIED. Debtor's Motion to Dismiss Appeal is also DENIED, but briefing on the merits of the appeal shall remain STAYED unless and until the Debtor's Chapter 11 Plan is confirmed. The parties shall file a Status Report informing me of the status or results of the confirmation proceedings on or before June 24, 2013.

Source:  Leagle

Can't find what you're looking for?

Post a free question on our public forum.
Ask a Question
Search for lawyers by practice areas.
Find a Lawyer