Not Dead Yet? How BigLaw's Best Firms Are Finding Growth
Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Polsinelli Podcast - Claims Trading: Opportunity or Hazard?
If I wasn't happy with my lawyer, can I appeal and show evidence I wanted to present?
Zimmermann: Dewey Charges Send 'Warning' To Struggling Law Firms
What do creditors need to know about litigation in state court and bankruptcy court?
Can I collect my judgment if the other side is appealing?
Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Detroit Falls Short on Good-Faith Test
What is an appeal and how do I know if I should appeal?
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Madoff Victims Rooting for Stanford Victory
Bill on Bankruptcy: Listening in the Dark at the NCBJ
Bill on Bankruptcy: Detroit Shows Need for Amending Bankruptcy Law
Dean: Law Schools Use Merit Scholarships To Boost Rankings
Bill on Bankruptcy: Unprecedented Actions by Two District Judges
Bill on Bankruptcy: Sex Doesn't Sell Enough to Avoid Bankruptcy
Municipal Bankruptcies – Interview with Bill Kannel, Member, Mintz Levin
Bill on Bankruptcy: Detroit Judge Might Lose Grip on the Case
Getting the best result when you file bankruptcy: don't file with outdated information
The sale of real and personal property in a receivership estate is governed by 28 U.S.C. §§ 2001 and 2004, and both contain procedures for both a public and private auction of property. Regarding personal property, § 2004...more
Much to the chagrin of golf course lenders, bankruptcy and appellate courts around the country have consistently held that a properly-perfected mortgage or security interest in golf course revenues, including cart rentals and...more
Lenders that exercise their rights to foreclose upon collateral are often met with a bankruptcy filing near or shortly after the date of sale. Obviously, if a lender learns of a bankruptcy prior to the foreclosure, the sale...more
“Lien stripping” often takes two forms. A debtor’s attempt to void the unsecured portion of a lien when there is some but not enough equity in collateral to fully cover a lienholder’s entire debt is commonly referred to as a...more
Does a lender have a duty to act in good faith when negotiating with a borrower during a commercial loan modification? In an order issued recently by the United States Bankruptcy Court for the Eastern District of North...more
DIA Urges Detroit to Stay Away from Art Collection
by Joel R. Glucksman on September 6, 2013
Several creditors and pension groups have teamed up to challenge the constitutionality of the Detroit bankruptcy filing....more
Creditors File Objections to Detroit Bankruptcy
by Joel R. Glucksman on August 30, 2013
More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy...more
An important new case regarding New Hampshire Mechanics Lien Law has application for contractors in all states and reminds the industry of how painful uncollectible debts can be. In Moultonborough Hotel Group decided on July...more
A new type of threat is emerging that may thwart special servicer collections: retroactive state legislation. For most CMBS collection actions involving nonrecourse loans, the issue of springing recourse triggers (so-called...more
As we have discussed in previous posts, if a debtor actively falsifies a financial statement to obtain a loan, such debt is not dischargeable in a subsequent bankruptcy proceeding under § 523(a)(2)(B) of the Bankruptcy Code....more
It is not an uncommon practice for commercial lenders or real estate owners to employ a broker to assist with the sale of property for a commission. Recently, a corporation owning a marina in South Florida filed for Chapter...more
In an age of historically low interest rates, lenders rely on fee income and other devices to enhance their returns. One of these mechanisms -- and one that can have dramatic consequences for a borrower -- is the inclusion of...more
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
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
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
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
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
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
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
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,
Allen Dickey, Esq.
Jonathan Ursprung, Esq.
New secured lending rules in Texas will change a number of the...more
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
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
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
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
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