Opinion ID: 3160786
Heading Depth: 2
Heading Rank: 2

Heading: The Gentry Bankruptcy

Text: In October 2010, a month after Ball Four filed for bankruptcy, FirsTier sued the Gentrys in Colorado state court to collect on the guaranties. II Aplt. 1 The exact amount of the allowed claim is currently being litigated. See Complaint, Ball Four, Inc. v. FB Acquisition Prop. I, LLC, No. 12-01036-EEB (Bankr. D. Colo. Jan. 17, 2012) (asserting breach of contract claims against lender and seeking discharge based on lender’s alleged unlawful conduct). Until that amount is resolved, Ball Four is not required to make any payments on the 2005 loan. -3- App. 249. In November 2011, the Gentrys filed this Chapter 11 case. Id. SIP, the successor to FirsTier’s claim, asserted the Gentrys guaranteed $3,204,868.99 on the original loan. Id. SIP later amended its calculation of default interest, claiming the Gentrys actually owed $4,628,127.72. Id. The Gentrys filed the necessary disclosures and an amended plan. The amended plan provided that the Gentrys’ liability on the 2005 loan would be satisfied by Ball Four under its confirmed plan. 2 Despite SIP’s objections, the bankruptcy court confirmed the Gentry Plan in 2013. I Aplt. App. 218. The court found, inter alia, the plan was feasible, id. at 225–27, and the language of the guaranties limited the Gentrys’ liability to the amount set out in the Ball Four Plan, id. at 222–25. In 2014, the district court affirmed the bankruptcy court’s order. In re Gentry, 2014 WL 4723879, at . In December 2014, FB Acquisition replaced SIP as the successor in interest 2 The amended plan provided: Class 6. 2011 SIP-CRE/CADC Venture, LLC. The disputed unsecured claim of the Class 6 creditor is evidenced by a personal guaranty signed by the Debtors guarantying [sic] the secured claim of the Class 6 creditor which is owed to the Class 6 creditor by Ball Four. When the Class 6 creditor’s disputed claim is determined to be an allowed claim by entry of a Final Order, the allowed unsecured claim will be paid in full by Ball Four pursuant to the terms of the confirmed Chapter 11 Plan of Reorganization of Ball Four. The Class 6 creditor’s allowed unsecured claim will be paid by Ball Four as provided for in Ball Four’s confirmed Plan of Reorganization. I Aplt. App. 217–18. -4- in the Ball Four case and in this appeal.