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Nobelman v. American Savings Bank

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(Redirected from 508 U.S. 324)

Nobelman v. American Savings Bank
Argued April 19, 1993
Decided June 1, 1993
Full case nameLeonard Nobelman, et ux., Petitioners v. American Savings Bank, et al.
Citations508 U.S. 324 (more)
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.
Court membership
Chief Justice
William Rehnquist
Associate Justices
Byron White · Harry Blackmun
John P. Stevens · Sandra Day O'Connor
Antonin Scalia · Anthony Kennedy
David Souter · Clarence Thomas
Case opinions
MajorityThomas, joined by unanimous
ConcurrenceStevens

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.

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