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Secured Creditor – Collateral – ‘Inconsequential Value’ (access required)

Holding: Although the secured creditor’s claim is for $3,256,020.67 while the collateral is valued at only $432,575, since the value of the creditor’s lien is approximately 13 percent of the value of its total claim, the court cannot say that the collateral is “of inconsequential value” within the meaning of 11 U.S.C. § 1111(b)(1)(B)(i).

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