What is the test for allowing secured claim under section 506(d) of the Bankruptcy and Insolvency Act?
MultiRegion, United States of America
The following excerpt is from In re Oceanside Mission Associates, 192 BR 232 (Bankr. S.D. Cal. 1996):
In Dewsnup v. Timm, 502 U.S. 410, 112 S.Ct. 773, 116 L.Ed.2d 903 (1992), the court determined that "allowed secured claim" as used in section 506(d) means the full allowed amount of the creditor's claim regardless of the value of the collateral.
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