In re Sagamore Partners, Ltd: Eleventh Circuit Holds That a Creditor May Demand Default-rate Interest as a Condition for Reinstating Loan | Practical Law
In JPMCC 2006-LDP7 Miami Beach Lodging, LLC v. Sagamore Partners, Ltd. (In re Sagamore Partners, Ltd.), the US Court of Appeals for the Eleventh Circuit held that, under section 1123(d) of the Bankruptcy Code, a creditor may demand default-rate interest as a condition for reinstating a loan, if the underlying documents so provide.