Pacifica L 51, LLC v. New Investments, Inc.: Ninth Circuit Requires Debtor to Cure Default By Paying Post-Default, Increased Interest Rate According to Underlying Agreement and Nonbankruptcy Law | Practical Law
The US Court of Appeals for the Ninth Circuit held, in Pacifica L 51, LLC v. New Investments, Inc. (In re New Investments, Inc.), that the amount necessary to cure a default is governed by the underlying agreement and nonbankruptcy law, requiring payment of interest at the default rate.