Bankruptcy, Finance & Banking, Commercial Real Estate

Michigan, Ohio Lenders Will See Impact from New Nonrecourse Loan Restrictions

by Joshua Stevens | Dinsmore & Shohl LLP on 4/22/2013

Lenders located in Michigan and Ohio that are engaging in nonrecourse loans will want to become familiar with a recent change in the law which will have an impact on the use of certain carve-outs in nonrecourse loans....more

How Graphics Helped a Trial Team Show Complex Data and Win

by Cogent Legal on 4/12/2013

I love hearing the news that one of our clients had a great result using the work we did for them. The most recent big win I’m happy to report is Manatt, Phelps & Phillips, LLP, won a major lender liability/wrongful...more

Louisiana Receivers In Foreclosure - "Keep-er Away From My Collateral!!" Part II

by Justin Stephens | Baker, Donelson, Bearman, Caldwell &... on 3/28/2013

In my prior post, I discussed (1) what a keeper is and (2) why you should designate a Keeper. This post examines (3) the benefits of a Keeper and (4) some risks relating to a Keeper....more

Fifth Circuit Decisions Concerning Confirmation Of Plans Of Reorganization

by Richard London | Perkins Coie on 3/22/2013

The U.S. Court of Appeals for the Fifth Circuit recently issued two decisions that affect a borrower’s ability to confirm a bankruptcy plan, Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village...more

Rogers Towers: Radlax

by Jacob J. Payne | Rogers Towers on 3/14/2013

Can a Chapter 11 debtor propose a plan to sell a lender’s collateral free and clear of the lender’s lien without allowing the lender to credit bid? The Supreme Court says “no”—unless there’s cause....more

Baker Donelson Launches CMBS Special Servicing Southeast Blog

by Baker, Donelson, Bearman, Caldwell &... on 3/11/2013

The headlines tell the story of the current state of CMBS and CRE defaults here and abroad. "Watch out for CMBS Re-Defaults" trumpets Real Estate Finance Intelligence. Financial News announces "Break Time Over as CMBS Bounce...more

When Lenders are the Losers in Bankruptcy Court...Well, Not so Fast

by Krystyna Blakeslee | Dechert LLP on 3/1/2013

Last October, I wrote about a scheme employed, in three separate bankruptcy cases, by debtors seeking to evade the absolute priority rule in order to keep the real property owned by the debtor in the hands of the ‘family’ at...more

U.S. Bank, Nat’l Ass’n v. Lightstone Holdings, LLC (N.Y. App. Div. Feb. 14. 2013) -- Senior Lender Gets Second Chance to Assert...

by King & Spalding on 2/22/2013

A recent decision in the protracted litigation by lenders of Extended Stay to recover under guaranties executed by owners of Extended Stay highlights the need for clear and unambiguous drafting in intercreditor agreements....more

Summary of the 2010 Amendments to Chapter 9 of the Texas Uniform Commercial Code: Effective July 1, 2013

by Allen Dickey on 2/7/2013

Summary of the 2010 Amendments to Chapter 9 of the Texas Uniform Commercial Code: Effective July 1, 2013, Allen Dickey, Esq. Jonathan Ursprung, Esq. New secured lending rules in Texas will change a number of the...more

Rogers Towers: A Troubling Interpretation: Prepetition Foreclosures as Preferential Transfers under § 547

by Scott St. Amand, J. Ellsworth Summers, Jr. | Rogers Towers on 1/8/2013

As stated in Doug Waldorf’s post below, the concept of property valuation in regards to a deficiency judgment is well established within the Eleventh Circuit. The fair market value of the property is established at the...more

State Law Update: Michigan Excludes Certain Loans From State Mortgage Laws, Extends Loan Modification Program

by BuckleySandler LLP on 1/8/2013

On December 22, Michigan Governor Rick Snyder signed three bills—SB 1283, SB 1284, and SB 1285—to exclude from state mortgage laws, including its predatory lending law and loan originator licensing act, any loan transaction...more

Using Letters Of Credit For Tenant Credit Enhancement

by Michael Kuhn | Jackson Walker on 1/3/2013

I. Introduction. Cash security deposits (typically in the amount of one or two month’s rent) have been the traditional form of tenant credit enhancement required by commercial landlords. However, in instances where...more

2012 Year In Review – Part 1

by Peter M. Friedman, Douglas Mintz, Joseph Zujkowski | Cadwalader - Financial Restructuring on 12/24/2012

In This Issue: - March 9, 2012: Publication of Dynegy Examiner’s Report - March 29, 2012: SDNY Rules That 363 Sales May Not Be Free and Clear of Future Claims - May 15, 2102: Eleventh Circuit Rules in...more

Fool Me Once...: When Lenders are the Losers in Bankruptcy Court

by Dechert LLP on 11/1/2012

This is about bad law in the bankruptcy courts, but let us instructively begin with Charlie Brown. Bear with me. Everyone knows the classic Peanuts comic strip, which features the running joke of Lucy and Charlie Brown...more

A New Kind of PIN: Essential Requirements for Recording Deeds of Trusts in North Carolina

by Poyner Spruill LLP on 10/18/2012

The Fourth Circuit Court of Appeals recently ruled in the case of In Re: McCormick that a recorded North Carolina deed of trust indexed in a county’s grantor/grantee index may nevertheless be avoided by a trustee in...more

Ruling Protects Secured Creditors' Rights

by Pullman & Comley, LLC on 10/2/2012

Originally published in the Connecticut Law Tribune on September 24, 2012. When a Chapter 11 debtor proposes to sell secured assets prior to confirmation of a plan, it may not do so without providing its secured...more

Who owns the rents? Recent cases highlight uncertainty as to effect of mortgage rent assignments in New York bankruptcies

by Loeb & Loeb LLP on 9/10/2012

Originally published in the August 27, 2012 issue of Thomson Reuters News & Insight. Amid the recent proliferation of commercial mortgage defaults in New York, the question of whether property of a debtor’s bankruptcy...more

Business Leasing and Finance News (BLFN) Summer Edition 2012

by Patton Boggs LLP on 8/20/2012

In This Issue: 1. Latest Decisions in Lease Accounting Project Cloud Industry’s Future 2. Aviation Industry Buffeted by FAA Plans for Non-Citizen Trusts 3. BLFN Case & Comment: Secured Creditors Win Back...more

New Court Opinions on Bankruptcy Issues: Landlord Stub Rent Claims; Prepetition Attorneys' Fees Claims; Use Of Secured Creditor's...

by Randall Reese on 7/15/2012

Read our summaries and the complete opinions completely free: • In re Leather Factory Inc. (Bankr. C.D. Cal.) | Allowance of Landlord Claims for Stub Rent and Fees -...more

Real Estate Newsletter - June 2012

by Lowenstein Sandler LLP on 7/2/2012

Lowenstein Sandler's Real Estate Practice Group is pleased to provide you with this newsletter of recent legislative developments, court decisions and other real estate news that may impact your business. This publication is...more

Commercial Restructuring & Bankruptcy Alert - June 2012

by Reed Smith on 7/2/2012

In this issue: - Construction Lenders Beware - Supreme Court Upholds Secured Creditor’s Right to Credit Bid in a Bankruptcy Case - Jointly Administered Plans Must Obtain Impaired Class Approval ‘Per Debtor’...more

Supreme Court Upholds the Right to “Credit bid” in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

by Mintz Levin - Bankruptcy, Restructuring &... on 6/26/2012

The secured lender industry experienced a collective sigh of relief on May 29 after the Supreme Court ruled in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank that credit bidding remains a viable option to protect...more

SCOTUS: Secured Creditors Cannot Be Denied the Right to Credit-Bid

by Sands Anderson PC on 6/14/2012

On May 29, 2012, the United States Supreme Court decided Radlax Gateway Hotel, LLC v. Amalgamated Bank, ruling that secured creditors cannot be denied the right to credit-bid on the sale of property or assets in the context...more

It’s Indubitable: Supreme Court Upholds Secured Creditors’ Unequivocal Right to Credit Bid at Plan Sales

by K&L Gates LLP on 6/14/2012

Much to the anticipation of the bankruptcy community, on May 29, 2012 the Supreme Court of the United States issued a decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank and put an end to the split among the Circuit...more

Canonized Credit-Bidding: The Supreme Court Unanimously Affirms Secured Creditor's Right to Credit-Bid at Free and Clear Sale in...

by Sheppard Mullin Richter & Hampton LLP on 6/11/2012

On May 29, 2012, the Supreme Court ruled 8-0 that a debtor could not confirm a plan over a secured creditor’s objection if the plan provided for the sale of the secured creditor’s collateral free and clear of liens, but did...more

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