It is a much misunderstood truism that a "secured creditor ‘with a loan secured by a lien on the assets of a debtor who becomes bankrupt before the loan is repaid may ignore the bankruptcy proceeding and look to the lien for satisfaction of the debt.'" In re Howard, 972 F.2d 639, 641 (5th Cir. 1992). Of course, the Bankruptcy Code does not say this. In the case of a chapter 11 proceeding, what the Code does say is that
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