Ninth Circuit Limits Mortgagee to Value of the Property as Low Income Housing
In First Southern National Bank v. Sunnyslope Housing Limited Partnership , No. 12-17241 , the Ninth Circuit Court of Appeals, in an en banc decision, held that, for purposes of confirmation of a plan of reorganization over a mortgagee's objection, the value of the mortgagee's secured claim was the value of the property as low…