News & Analysis as of

Commercial Real Estate Bankruptcy

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:

Sixth Circuit Court of Appeals Holds Properly Perfected Assignment of Rents Not Property of Bankruptcy Estate

by Foley & Lardner LLP on

In a significant ruling impacting commercial real estate lenders in Michigan, the 6th Circuit Court of Appeals has ruled that an absolute assignment of rents that had been fully perfected (by demanding payment from tenants to...more

Who Knew? An Absolute Assignment of Rents Can Be Absolute

by Seyfarth Shaw LLP on

Sixth Circuit Determines that an Absolute Assignment of Rents Perfected Under Michigan State Law Takes Property out of a Bankruptcy Estate (In Re Town Center Flats, LLC, Case No. 16-1812 — Decided May 2, 2017)....more

Landlord Rights and Responsibilities in Commercial Tenant Bankruptcies

Landlords beware: You may not be able to rely on all the remedies found in your lease if your tenant files bankruptcy. For example, the bankruptcy section of your lease may provide that the tenant filing a bankruptcy petition...more

Kmart Bankruptcy, Part Deux

It’s no secret that Kmart is facing another liquidity crisis. Just over ten years after Sears rescued the discount retailer from bankruptcy in 2006, the pioneer of the “blue light special” is destined for another, and...more

Assigned Rents Not Bankruptcy Estate Property After Assignment is Enforced

by Miller Canfield on

On May 2, 2017, the Sixth Circuit Court of Appeals clarified whether a bankruptcy debtor retains any property rights in rents after defaulting on a loan that includes an assignment of rents. The case, Town Center Flats,...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

Supreme Court defended secured creditor stating that premises in insolvency management shall be treated as being part of the...

by White & Case LLP on

In Russian insolvency procedures, it is quite common for third parties to try to exclude property from a debtor’s insolvent estate (konkursnaya massa) by claiming title to its real property in the absence of the registered...more

"Loan to own" strategies in Australia

by DLA Piper on

The increase in the availability of alternate capital in Australia over the past decade has provided a landscape for well-tested global restructuring techniques to be applied locally. This includes 'loan to own' strategies....more

What Do You Mean My Claim Is Capped? Ninth Circuit Ruling Further Clarifies Types Of Damages Excluded From A Landlord’s Claim In...

by Bryan Cave on

The Ninth Circuit Court of Appeals recently provided landlords dealing with a rejected lease with further guidance on the size and basis of their claims against a tenant’s bankruptcy estate. Kupfer v. Salma (In re Kupfer),...more

The Devil's Dictionary of Bankruptcy Terms: Strong Arm Powers

by Polsinelli on

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

Construction Group News: Your corporate real estate is held by a separate LLC, so it's protected, right? Maybe Not...

by Murtha Cullina on

Your business real estate may not be safe from a separate, but related, company’s bankruptcy. In a shot across the bow to the Massachusetts construction community, a Massachusetts bankruptcy court has determined that in...more

Substantive Consolidation - Recent Decisions Examine a Bankruptcy Court’s Ability to Augment a Debtor’s Estate

Two recent opinions concerning the law of substantive consolidation should be of interest to business owners and commercial real estate market participants. The doctrine of substantive consolidation allows a bankruptcy court,...more

Ninth Circuit Rules Lease Damages Cap Does Not Apply to Damages Independent of Termination

by King & Spalding on

On December 29, 2016, the U.S. Court of Appeals for the Ninth Circuit (the “Court”) issued an opinion, holding that the statutory cap on a landlord’s damages claim in a bankruptcy case applies only to claims resulting...more

Be Prepared Before Your Borrower Files a Farm Bankruptcy

by Ruder Ware on

How prepared are you for a workout or Chapter 12 farm bankruptcy filed by your Borrower? Make it your New Year’s Resolution to know the answer to these questions about your Borrower. Do you conduct regular file reviews?...more

Technology Law Newsletter

by Buchalter on

As this election year draws to a close, forecasting the future is a topic of discussion, not only in political circles, but in technology circles as well. To chart the best way forward, it is important to understand...more

Payments on Commercial Mortgage-Backed Securities Loans Cannot be Avoided in Bankruptcy

by Burr & Forman on

The Bankruptcy Code gives a trustee the power to avoid pre-petition fraudulent and preference transfers made by a debtor, except that a trustee may not avoid a transfer that is “made by or to (or for the benefit of)” a party...more

PACA Liens: A New Cloud on Title?

by Seyfarth Shaw LLP on

The Perishable Agricultural Commodities Act (PACA) was passed by Congress in 1930 to protect agricultural produce suppliers from unscrupulous vendors who refused to pay the suppliers for their goods. PACA contains language...more

Ninth Circuit Overturns Entz-White Lumber; Avoiding Default Interest Via Cure Through Chapter 11 Plan No Longer Valid

by Perkins Coie on

In the case of Pacifica L 51, LLC v. New Investments, Inc. (In re New Investments, Inc.), 9th Cir. November 4, 2016, the U.S. Court of Appeals for the Ninth Circuit held that a Chapter 11 debtor could not avoid paying default...more

Purchasers of NJ Tax Sale Certificates - What You Include in Your Proof of Claim Can Cause a Loss of Your Claim and Lien

by Dechert LLP on

In Princeton Office Park, the U.S. Court of Appeals for the Third Circuit affirmed the bankruptcy and district court rulings that the purchaser of a NJ tax sale certificate forfeited its claim and lien because it included the...more

Real Estate Gazette - Issue 25: Focus on distressed assets

by DLA Piper on

A very warm welcome to Issue 25 of DLA Piper’s Real Estate Gazette. The global real estate market is currently operating against a backdrop of economic uncertainty. Brexit, immigration and presidential elections in the US...more

Landlords, Leases and Financial Distress

by Bennett Jones LLP on

Prepaid rent or a security deposit? The distinction is an important and potentially costly one for landlords in the current economic climate. In 2015, the Alberta Court of Appeal in York Realty Inc. v Alignvest Private Debt...more

NJ Supreme Court Holds Intervening Mortgage Takes Priority After Discretionary Advances by Initial Mortgagee

by Ballard Spahr LLP on

The New Jersey Supreme Court recently clarified its rules regarding mortgage priority, holding that a factoring company’s secured first mortgage can be trumped by a law firm’s later-filed mortgage where the factoring company...more

Court decides to ‘wait and see’ in its refusal to grant an administration order

by Reed Smith on

Rowntree Ventures Ltd v Oak Property Partners Ltd [2016] EWHC 1523 (Ch) - The High Court recently re-affirmed the discretionary nature of its right to grant an administration order. In this case, the court refused to...more

Court of Appeal decides that full losses flow from a second negligent valuation on a refinance regardless of whether the second...

by Dentons on

In Tiuta International Limited (in Liquidation) v. De Villiers Surveyors Limited [2016] EWCA Civ 661, the Court of Appeal allowed an application to set aside summary judgment after considering the correct application of the...more

PROMESA Shields Puerto Rico Behind a New Automatic Stay

by Bryan Cave on

On June 30, 2016, President Obama signed the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) into law. The most significant portions of PROMESA are found in titles I and II, which establish an...more

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