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Bankruptcy Law - In Re Mitchell: Standards of Valuation in Chapter 13 Proceedings Under 11 U.S.C. § 506(a)

By Edwin S. Clark

Abstract

In re Mitchel marks the first examination by a circuit court of valuation standards used in Chapter 13 proceedings to establish the value of a creditor\u27s secured claim in a vehicle. In Mitchell, the Ninth Circuit held that the standard to be applied in most cases is a vehicle\u27s wholesale values and that any other standard, such as retail value, should be applied only where the debtor uses a vehicle as part of a going concern. This note will show that the Mitchell majority arrived at its rule by grounding its analysis in well-settled bankruptcy philosophy& and by strictly construing the structure of 11 U.S.C. § 506(a) in accord with its legislative history

Topics: bankruptcy, secured transactions, valuation, Bankruptcy Law
Publisher: GGU Law Digital Commons
Year: 2010
OAI identifier: oai:digitalcommons.law.ggu.edu:ggulrev-1574

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