In re GGVXX, Ltd.

130 B.R. 322 (1991)

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In re GGVXX, Ltd.

United States Bankruptcy Court for the District of Colorado
130 B.R. 322 (1991)

DH

Facts

GGVXX Ltd. (GGVXX) (debtor) owned certain real property, which was partially developed into and operated as a golf course. GGVXX generated income from the golf course through greens fees, cart rentals, range balls, and club rentals (golf fees). GGVXX filed for Chapter 11 bankruptcy. King Valley Development Corporation (King) (creditor) claimed perfected secured liens against GGVXX’s real property and in certain unrelated personal property. The bankruptcy court had to determine whether the golf fees constituted cash collateral. If so, King could restrict GGVXX’s use of the golf fees. If not, GGVXX could use the golf fees without restriction.

Rule of Law

Issue

Holding and Reasoning (Brooks, J.)

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