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Commercial Law Keyed to Lopucki
In re Hotel Sierra Vista Limited Partnership
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When Respondent filed for bankruptcy, its principal assets were in the hotel itself together with $625,844 in accumulated pre-petition revenues. Between the initial filing and the plan confirmation, the hotel received an additional $812,425. Petitioner moved to sequester the hotel’s post-petition revenues. Petitioner claims that these revenues are cash collateral within the meaning of 11 U.S.C. Section:363(a). The bankruptcy court confirmed the plan and concluded that the post-petition room revenues were cash collateral. However, the bankruptcy court denied Petitioner a secured interest in the post-petition room revenues stating that Petitioner had failed to meet the burden of proving the “extent of its interest as required by 11 U.S.C. Section:363(o)(2).
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