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Bank of America Bankruptcy Code

Troutman Pepper

Mortgage Acknowledgements: Can A Boo-Boo Be Fixed?

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Bank of America, N.A. v. Casey, 517 B.R. 1 (D. Mass. 2015) – A Chapter 7 trustee sought to avoid a mortgage using “strong-arm” powers based on a defect in the acknowledgement. The mortgagee contended that the defect was...more

Baker Donelson

Florida Court Rules Borrowers Who Surrender Property in Bankruptcy Can't Later Take it Back

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Thanks to several recent United States Bankruptcy Court decisions in Florida, mortgage servicers should now expect borrowers who surrender their real property in bankruptcy to not contest foreclosure later. Since the...more

Seyfarth Shaw LLP

Recent Unanimous Supreme Court Decision Holds That Underwater Mortgages in a Chapter 7 Cannot be “Stripped off"

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The Issue and Background - Debtors David Caulkett and Edelmiro Toledo-Cardona (“Debtors”) each filed for Chapter 7 bankruptcy relief with “underwater” junior mortgages held by Bank of America, N.A. (“Bank”). In other...more

Troutman Pepper

Cramdown Hurdles Round 3: Try, Try Again

Troutman Pepper on

In re Ramz Real Estate Co., LLC, 510 B.R. 712 (Bankr. S.D.N.Y. 2013) – An undersecured mortgagee objected to a debtor’s proposed plan of reorganization on several grounds, including that (1) the plan was not approved by...more

Greenberg Glusker LLP

9th Circ. Panel Bolsters Trustees’ Reach-Back Powers

Greenberg Glusker LLP on

In a recent decision, the United States Bankruptcy Appellate Panel of the Ninth Circuit resolved what it described as an issue of “first impression” in the Ninth Circuit — whether or not the two-year statute of limitations...more

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