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Bankruptcy Residential Real Estate

Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Judicial Estoppel Defense in Bankruptcy Claims Likely to Get More Difficult

A recent decision from the Court of Appeals for the Eleventh Circuit has impaired a valuable defense for early dismissal or settlement with bankrupt plaintiffs. This decision will affect strategy for mortgage originators,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more

No Surrender: Massachusetts Appeals Court Preserves Foreclosure Challenges for Bankruptcy Petitioner

by Hinshaw & Culbertson LLP on

Like Bruce Springsteen, a Massachusetts bankruptcy debtor said "no surrender" when it came to his home. In EverBank v. Chacon, a panel of the Massachusetts Appeals Court issued a non-binding decision that a debtor's...more

Dear Mortgage Lender – Where Debtors Surrender, Act Quickly

by Fox Rothschild LLP on

The Eleventh Circuit’s ruling in the Failla case was triumph for mortgage lenders when it affirmed the District Court’s opinion that “once the debtor decides to ‘surrender’ secured property… [w]hile the debtor need not...more

Tenants Beware – The Ninth Circuit Has Ruled That The Bankruptcy Code Can Be Used By A Landlord To Strip A Tenant’s Right To...

by Ervin Cohen & Jessup LLP on

Just last month, the Ninth Circuit issued a ruling in the case of Matter of Spanish Peak Holding II, LLC, that is potentially devastating to a tenant that leases property from a landlord that files for bankruptcy relief....more

Shifting the onerous: onerous land disclaimed by bankruptcy trustees can also become onerous for lenders

by Dentons on

This update deals with “onerous property” and the issues involved when a trustee in bankruptcy disclaims onerous land, including the potential impact on lenders....more

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

by Burr & Forman on

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

Transfer To Non-Existent Corporation Held To Be A Transfer Nonetheless

by Allen Matkins on

Sometimes, the law is just weird. The case of PGA West Residential Ass’n, Inc. v. Hulven Int’l, Inc., Cal. Ct. App. Case No. E064270 (Aug. 9, 2017) is weirder than most. The lawsuit alleged that the defendant had tried to...more

Banking & Financial Services E-Note - July 2017

by Burr & Forman on

What does a recent Georgia Supreme Court case mean for the viability of the state's confirmation statute? Atlanta Partner Erich Durlacher explores answers in this Alert. Please see full E-Note below for more information....more

The Effects of a Creditor’s Non-Participation in Bankruptcy Proceedings

Although not required for the res judicata analysis, the court also found that Montanaro received constitutionally sufficient notice of the debtor’s bankruptcy, the plan, and confirmation order to be bound by the plan’s...more

Be Careful What You Ask For: The Unintended Consequences of Creditor Remedies in Bankruptcy Cases

by Stinson Leonard Street on

To anyone practicing bankruptcy law more than a month, the scenario of a lender secured by a lien against real property, as well as an assignment of rents (“AOR”) is pretty standard fare. Default on the debt occurs, threats...more

Can a Receiver be Sued for Not Paying a Pre-Receiver Creditor?

by Ervin Cohen & Jessup LLP on

Question: I am the Receiver for a condo project. A pre-receivership creditor has threatened to sue me because I won’t pay for the services he provided the defendant. I have explained to the creditor that the receivership is...more

Ninth Circuit Applies Replacement Value in Cramdown Even If Lower Than Liquidation Value

In a decision that addresses the value to apply to a secured creditor’s collateral facing cramdown, the Ninth Circuit, sitting en banc, reaffirms that, in determining cramdown value, a secured creditor is only entitled to the...more

New Wave of Lehman Litigation Appears to Be Imminent

by Bilzin Sumberg on

Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more

In re Lutz – A Value’d Decision Under Section 363(f)(3)

The Bottom Line - The Bankruptcy Court for the District of New Jersey denied the Debtors’ request for approval of a sale of property free and clear of liens encumbering the property. The court determined that the term...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed wrapped up its Open Market Committee meeting yesterday without any change in interest rates but with an expression of confidence in the economy, despite Q1’s sub-1 percent growth figure (which it dubbed “transitory”)....more

Banking & Financial Services E-Note - April 2017

by Burr & Forman on

In an article published in the Winter/Spring 2017 issue of Thomson Reuter’s Real Estate Finance Journal, Samantha Alves Orender provides guidance on how debtors who misuse collateral may be at risk of losing the benefit of...more

Discharge In Bankruptcy Without Reaffirmation Is Not A Shield And A Sword

by SmithAmundsen LLC on

Many borrowers use bankruptcy as a shield against a lender’s foreclosure action. Some also try to use bankruptcy as a sword to bring up defenses that stem from the mortgage contract to defeat a foreclosure. A recent second...more

Massachusetts Bankruptcy Court Confirms that Chapter 13 Debtors May “Strip Off” Second Mortgages

by PretiFlaherty on

Recently in In re Guerra, the Bankruptcy Court for the District of Massachusetts joined the majority of courts in finding that United States Supreme Court’s decision in Bankof Am. v. Caulkett does not affect a chapter 13...more

Tax Sales and Bankruptcy Stays

It is well understood that under section 362 of the Bankruptcy Code, a bankruptcy filing triggers an “automatic stay” preventing creditors from taking any act to obtain possession of or enforce a lien against property of the...more

Bank of America Must Pay $46 Million for Improper Foreclosure

Brian Davidoff was quoted in a Los Angeles Daily Journal article on March 28, 2017, discussing U.S. Bankruptcy Judge Christopher M. Klein’s ruling in Sundquist v. Bank of America NA which awarded Erik and Renee Sundquist...more

The Legality of Post-Bankruptcy Condo or Homeowner Association Assessments

A recent bankruptcy case illustrates how bankruptcy affects condominium or homeowner’s association assessments. The Bankruptcy Court for the Southern District of Florida ruled that a condominium association was not in...more

Banking & Financial Services E-Note - March 2017

by Burr & Forman on

In an article published in the April 2017 issue of The Journal of Bankruptcy Law, Jonathan Sykes and Correy Karbiener provide insight on whether § 546(e) of the Bankruptcy Code protects transfers made to repay commercial...more

Bankruptcy Beat: New York Bankruptcy Court Prohibits Stripping of Mortgage Lien Against Debtor's Multi-Family Residential Real...

by Pullman & Comley, LLC on

In both Chapter 13 consumer bankruptcy cases and individual Chapter 11 cases, a debtor is prohibited from modifying a claim that is “secured only by a security interest in real property that is the debtor’s principal...more

Will bankruptcy stop a foreclosure?

by Malcolm Ruthven on

"My house is about to be foreclosed. Will bankruptcy stop that?" I'm often asked that question. The answer is probably "yes", but let's look at a "no" answer first....more

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