Commercial Real Estate › Bankruptcy › Residential Real Estate

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

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 Tide Turns Against Hybrid Plans in the Circuit Where They Began

In this article from the February 2013 ABI Journal, I review the reasoning of several recent decisions which depart from previous precedent permitting the treatment of real estate loans beyond the term of a chapter 13 plan....more

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

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

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

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

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

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

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

What Constitutes a "Mortgage" Under Illinois Law?

A ruling by a Bankruptcy Court in Illinois that a bankruptcy trustee could avoid two mortgages which utilized a standard form used by the lending industry would constitute a precedent opening the door to avoidance of...more

New Opinion Addressing Automatic Stay Relief in Single-Asset Real Estate Cases (In re 2655 Bush LLC, Bankr. N.D. Cal.)

Read the opinion here: http://chapter11cases.com/new-bankruptcy-opinion-in-re-2655-bush-llc-bankr-court-nd-california-2012-case-no-12-30388-tec-issue-automatic-stay-relief-in-single-asset-real-estate-case/ Summary In a...more

Real Estate Newsletter - June 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

Breaking News: Insurance Coverage for "Hidden" Mechanics' and Materialmen's Lien Claims in North Carolina is Disappearing

Even in good economic times, lien claims asserted by subcontractors and material suppliers abound and lead to costly disputes. As in many states, North Carolina’s materialmen’s lien statutes create a system where “hidden” or...more

If It Looks Like a Duck, err, a SARE Debtor...

Recently, the Ninth Circuit Court of Appeals brought smiles to the faces of many lenders (especially Bank of America, the appellee and secured lender) when it refused to combine the assets of related debtors without a...more

Susquehanna Bank v. United States of America (In Re Restivo Auto Body, Inc.

Plaintiff's memo of law in support of it's motion for summary judgment against the IRS

A lender holding $1 Million lien on bankrupt's real property sued for lien priority over approximately $200,000 in IRS liens attaching to the same property. The parties filed cross-motions for summary judgment, based on very...more

Ninth Circuit Issues a Bankruptcy Opinion Favorable to Lenders to SPEs

In its recent decision in Meruelo Maddux Properties, Inc., the Court of Appeals for the Ninth Circuit held that an entity that meets the definition of a “single real estate” debtor under the Bankruptcy Code...more

Real Estate Lenders Rejoice: Ninth Circuit Holds that the Property Held by One Debtor in a Bankruptcy Case Involving a...

On January 27, 2012, the Ninth Circuit Court of Appeals held that a property level debtor was subject to the single asset real estate provisions of the Bankruptcy Code even though the debtor was one of fifty-three debtor...more

"Cuando el IVA concursa"

Una reciente reforma legal habilita a la AEAT para el cobro de las cuotas de IVA devengadas con motivo de operaciones inmobiliarias realizadas por empresas en concurso....more

"Cuando el IVA concursa"

Una reciente reforma legal facilita a la AEAT el cobro de las cuotas de IVA devengadas con motivo de operaciones inmobiliarias hechas por sociedades en concurso....more

Windmill Durango Office, LLC, Chapter 11 Confirmation

A Wolf in Sheep's Clothing: Why a Blended Rate Approach with Coerced Loan Inputs Must Be Rejected as an Appropriate Cramdown...

Chapter 11 Cramdowns, §1129(b)(2)(A)(ii) and Appropriate Interest Rates for a Cramdown: To force a reorganized debtor in a chapter 11 cramdown to use unintended markets in order to set necessary interest rates on its new...more

Important Changes to Federal Bankruptcy Rules Effective December 1, 2011 by Patricia Antonelli, Esq.

Mortgage holders and servicers should prepare for important changes to Federal Bankruptcy Rules of Procedure ("FRBP"), effective December 1, 2011, including requirements for new forms. The changes to FRBP 3001, the...more

Guttman v. Wells Fargo Bank, N.A.

Court of Appeals of Maryland decision on certified questions from federal bankruptcy court

Maryland's highest court opined on questions of law certified by the U.S. Bankruptcy Court. The court held that Maryland's Curative Act will "cure" affidavits of consideration that are improperly or incompletely executed, if...more

Rev.Pontos de Vista-2011-Real Estate and Companies Bankruptcy

In an interview to the Magazine "Pontos de Vista", I have tried to covered various and actuals topics, ie, the real estate appraisal, subject in focus after the memorandum signed between Portuguese Governement, IMF and...more

Partial “Dirt-for-Debt” Plans in Chapter 11: the “Indubitable Equivalence” Debate

One consequence of the depressed real estate market has been numerous Chapter 11 bankruptcy cases wherein the debtor seeks confirmation of a “dirt-for-debt” plan. In such a plan, instead of paying the secured creditor the...more

In re 785 Partners LLC (785 Eighth Avenue, New York, NY 10036)

Voluntary Chapter 11 Bankruptcy Petition

For other bankruptcy court documents from this case, please visit: http://www.chapter11cases.com/785-Partners-LLC785-Eighth-Avenue-New-York-NY-10036_c_27636.html...more

Can I Short Sell My House While in Bankruptcy?

As I wrote in a recent article, more than 50% of homes in Arizona are worth less than what is owed on them. This is leading many people to try and short sale their home. However, because of other debt issues, many people also...more

50% of Arizona Homes are Upside Down: Bankruptcy & the Housing Crisis

Yesterday the Arizona Republic reported that Arizona has the second highest rate of homes where the owners owe more than the home is worth. Nearly 50% of Arizona's homes are not worth what is owed, and in Phoenix the number...more

Stellar GT TIC LLC (a.k.a. The Georgian, 8750 Georgia Avenue, Silver Spring, Maryland)

Voluntary Chapter 11 Bankruptcy Petition

Embedded below is a copy of the chapter 11 bankruptcy petition of Stellar GT TIC LLC, the partial owner of an 891-unit multi-family high rise property (consisting of two 14-story apartment buildings) located at 8750 Georgia...more