Bankruptcy Court Erred in Undervaluing Appellant's Collateral

Business Valuation UpdateVol. 4 No. 2
Legal and Court Case Update
February 1998
7211 Power Laundries, Family and Commercial
812320 Drycleaning and Laundry Services (except Coin-Operated)
fair market value (FMV)

Ardmor Vending v. Kim
130 F.3d 863, 1997 U.S. App. LEXIS 34370
December 9, 1997
Federal Court
9th Circuit
United States Court of Appeals
Robin D. Rix
Reinhardt, Tashima, James


Debtors Peter and Un Kim filed a Chapter 13 bankruptcy plan treating appellant Ardmor Vending Co. dba Great Northern as partially secured ($34,000) and the Ardmor Profit Sharing Plan as wholly unsecured.

See Also

Ardmor Vending v. Kim

At issue is the method of valuation of appellants' collateral, given their security interests in both the equipment and the lease of the Kims' dry cleaning business.