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Thu, 05/27/2004 - 5:00am

In light of the United States Supreme Court’s recent decision in Till v. SCS Credit Corp., 124 S. Ct. 1951, the committee appointed by this Court to review interest rates to be applied to secured claims in Chapter 13 cases has recommended that the interest rate currently set forth in Amended Operating Order - Interest Rate in Chapter 13 Cases (8%) remains in effect until further review and a formal meeting of such committee can be held to coincide with the South Carolina Bankruptcy Law Association meeting in September 2004. The purpose of the further review and meeting will be to make recommendations for future interest rate application based upon the holding by the Supreme Court. The Court encourages the bar to be mindful of the upcoming review of this matter and notes that the Court may defer matters directly addressing the Supreme Court’s decision pending recommendations by the committee.