Collateral

Mortgagees: Don’t Lose Collateral — Take Action To Ensure You Receive Notice Of Pending Tax Deed Sales

by Christopher Linde | Burr & Forman on 5/9/2013

Summary: Mortgagees and other lienholders whose proper address does not appear in a recorded mortgage or lien may not receive notice of a pending tax deed sale and may therefore lose collateral. A recent Florida court held...more

District Court Clarifies Distinction Between Burdens of Proof on Stay Relief and Adequate Protection in American Airlines...

by Walter Greenhalgh | Duane Morris LLP on 5/3/2013

In AMR Corporation, et al., Debtors, Case No. 12-3967, 2013 WL 1339123 (S.D.N.Y. April 3, 2013), the United States District Court for the Southern District of New York acknowledged that to be granted relief from the automatic...more

Bankruptcy Courts In Georgia And Florida Show Obedience To Eleventh Circuit Court Of Appeals And Reluctantly Begin To Allow Lien...

by Bryan Glover | Burr & Forman on 4/24/2013

Three bankruptcy courts within the Eleventh Circuit have recently issued opinions in which they have reluctantly allowed the debtor to entirely strip off the interests held by junior lienholders when the value of the real...more

CMBS Special Servicer Team Leads Training on Strategies to Effectively Address Defaulting Tenant in Common Borrowers

by Baker, Donelson, Bearman, Caldwell &... on 4/19/2013

Baker Donelson's CMBS Special Servicer team recently lead a training session for one of our clients on unique issues and strategies involved with defaulted loans involving tenant in common (TIC) borrowers. We have seen...more

Rogers Towers: Transfers of Real Property for Estate Planning and Other Purposes and Their Effect on the Mortgage Lender

by Douglas L. Waldorf, Jr. | Rogers Towers on 4/9/2013

I receive frequent inquiries from bank clients who are concerned because their mortgage borrower has requested permission to transfer the collateral real property to another entity. These requests commonly are made for estate...more

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

by Justin Stephens | Baker, Donelson, Bearman, Caldwell &... on 3/28/2013

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

Rogers Towers: Radlax

by Jacob J. Payne | Rogers Towers on 3/14/2013

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

Investor Files Suit Against Nationstar Over Mortgage Auctions

by Orrick - Structured Finance Group on 3/13/2013

On March 7, KIRP, LLC sued Texas-based mortgage servicer Nationstar Mortgage LLC in the Supreme Court of the State of New York in connection with Nationstar’s alleged improper conduct in servicing mortgage loans that are...more

Louisiana Receivers In Foreclosure - "Keep-er Away From My Collateral!!" Part 1

by Justin Stephens | Baker, Donelson, Bearman, Caldwell &... on 3/11/2013

Introduction This is the first of two posts on "Keepers". The first post discusses (1) what a keeper is and (2) why you should designate a Keeper. The forth-coming second post will discuss (3) the benefits of a...more

General Motors Bankruptcy Court Applies the Brakes to Unauthorized Termination Statements

by Orrick, Herrington & Sutcliffe LLP on 3/11/2013

Last week, the United States Bankruptcy Court for the Southern District of New York held that a UCC-3 termination statement is effective to terminate a financing statement under the Uniform Commercial Code only if the filing...more

Lenders Must Comply with New Foreclosure Requirements in Illinois Courts

by Christopher W. Carmichael, Francis L. Keldermans | Holland & Knight LLP on 3/8/2013

Mortgage lenders in Illinois are required to use the judicial process to obtain collateral and enter deficiency judgments against borrowers. In February 2013, Illinois crafted two new rules adding additional requirements to...more

Was This Identity Theft? Sixth Circuit Should Limit Meaning of That Term

by Jeff Ifrah on 3/6/2013

What’s in a name? When you think of identity theft, you typically think of someone taking a person’s name plus some other identifiers, like their address and Social Security number or credit card number, to go on a...more

Innovative Solutions Must Be Applied to Fronting Insurance and Collateral Problems in Bankruptcy

by Nicole Stefanelli, Andrew S. Zimmerman | Lowenstein Sandler LLP on 3/6/2013

Large businesses and organizations that self-insure their legally mandated insurance requirements often use “fronting” policies in which the policyholder must reimburse insurers for all losses and expenses paid on the...more

CFTC Orders Enskilda Futures To Pay $125,000 For Margin Errors

by Felix Shipkevich | Shipkevich PLLC on 2/20/2013

The U.S. Commodity Futures Trading Commission (CFTC) has filed and settled charges with Enskilda Futures Limited (EFL) for failing to meet capital requirements....more

In re Hostess Brands, Inc.: Southern District of New York Bankruptcy Court Refuses to Send Cash Collateral Dispute to Arbitration

by Michele Maman, Michael Stevens | Cadwalader - Financial Restructuring on 2/4/2013

On January 7, 2013, the Judge Robert D. Drain of the United States Bankruptcy Court for the Southern District of New York held that a dispute concerning the debtors’ use of cash collateral was not subject to arbitration,...more

Bank Held in Contempt for Failing to Return Collateral Repossessed Before Bankruptcy

by Daniel Beck, Christopher Camardello, Kristopher (Tip) Lee, Michael Rosow, Jacob Sellers | Winthrop & Weinstine, P.A. on 1/9/2013

Most lenders know that a bank cannot repossess collateral after a borrower files bankruptcy unless the bank first obtains relief from the automatic stay. But can a bank retain collateral that it repossessed before the...more

Bank News - November 2012: Participations — Problems In The Making, And How To Avoid Them, Part II

by Michael A. Campbell | Polsinelli on 11/1/2012

Originally published in Bank News, November 2012. The most critical component of the relationship between the lead bank and its participants, and the source of most disagreements, is communication. A prudent lead bank...more

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