The United States Bankruptcy Appellate Panel (“BAP”) for the 10th Circuit
Applying Iowa law, recently upheld an award of post-petition interest of $377,097.31 at a rate of 18% (accruing at $900 per day) as well as over $200,000 in attorneys’ fees and costs to the Debtor’s largest secured creditor, Rolling Hills Bank and Trust (the “Bank”)entered by the United States Bankruptcy Court for the District of Wyoming after it found, in part, that the default interest rate called for under the Variable Rate Notes in question was incorporated by reference to the Bank’s indexing system.[1]
