Litigants: | Nobelman v. American Savings Bank |
Arguedate: | April 19 |
Argueyear: | 1993 |
Decidedate: | June 1 |
Decideyear: | 1993 |
Fullname: | Leonard Nobelman, et ux., Petitioners v. American Savings Bank, et al. |
Usvol: | 508 |
Uspage: | 324 |
Parallelcitations: | 113 S. Ct. 2106; 124 L. Ed. 2d 228; 1993 U.S. LEXIS 3745; 61 U.S.L.W. 4531; Bankr. L. Rep. (CCH) ¶ 75,253A; 28 Collier Bankr. Cas. 2d (MB) 977; 24 Bankr. Ct. Dec. 479; 93 Cal. Daily Op. Service 3927; 7 Fla. L. Weekly Fed. S 339 |
Holding: | Section 1322(b)(2) prohibits a Chapter 13 debtor from relying on § 506(a) to reduce an undersecured homestead mortgage to the fair market value of the mortgaged residence. |
Majority: | Thomas |
Joinmajority: | unanimous |
Concurrence: | Stevens |
Nobelman v. American Savings Bank, 508 U.S. 324 (1993), was a United States Supreme Court case in which the Court disallowed cram-downs (the involuntary imposition by a court of a reorganization plan over the objections of creditors in a bankruptcy proceeding) for primary residences. Michael J. Schroeder argued on behalf of the mortgage creditor, American Savings Bank.