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Foreclosure › Bankruptcy Court

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Lowenstein Sandler LLP

Bankruptcy in Real Estate: What to Do When Faced with Foreclosure?

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This episode of “Terra Firma: Conversations on Commercial Real Estate” features hosts Stacey C. Tyler and Stephen Tanico talking with Eric Chafetz, partner in Lowenstein’s Bankruptcy and Restructuring Group, about office...more

Morrison & Foerster LLP

Deed in Escrow

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Is a “deed in escrow,” sometimes referred to as a “deed in a box,” enforceable in New York? While many real estate attorneys believe that it is not, a recent court ruling illustrates that the answer may not be as...more

McGlinchey Stafford

Decision Blocks Ch. 13 Bankruptcy for Cannabis Business Employee

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If you work for a cannabis business, then bankruptcy relief may not be available to you, according to the In re Blumsack decision out of the U.S. Bankruptcy Court for the District of Massachusetts. Whether an employee works...more

King & Spalding

Florida Bankruptcy Court Holds That Lenders Must Specify Post-Judgment Interest Rates in Addition to Post-Default Rates in Loan...

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On November 21, 2022, the U.S. Bankruptcy Court for the Southern District of Florida sustained the debtors’ objection to mortgage lender Benworth Capital Partners, LLC’s proof of claim and held that the state’s statutory...more

Cadwalader, Wickersham & Taft LLP

Should I Stay or Should I Go: Second Circuit Holds that Mortgagee Violated Automatic Stay by Foreclosing on Property where...

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On July 6, 2022, the Court of Appeals for the Second Circuit decided In Re: Eileen Fogarty, holding that a mortgagee violated the automatic stay imposed when a tenant filed bankruptcy by proceeding with a foreclosure sale...more

Pillsbury Winthrop Shaw Pittman LLP

Acquiring a Distressed Business in the United States: Key Issues for Prospective Buyers

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Prospective buyers should prepare to take advantage of opportunities to acquire distressed businesses, as we are likely to see an uptick in distressed M&A soon. Prospective buyers seeking first-mover advantages should act...more

White and Williams LLP

Second Circuit Finds Willful Stay Violation in Foreclosure Sale of Non-Debtor’s Real Property

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On July 6, 2022, the Court of Appeals for the Second Circuit (the Circuit Court), in analyzing an issue of first impression, entered a decision clarifying the expansive applicability of the automatic stay provision of the...more

Fox Rothschild LLP

Creditor Pays for Violating Stay in Mastic Bay

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A recent Second Circuit opinion sets a bright-line rule: if the Debtor is named as a defendant in a pre-bankruptcy lawsuit, the automatic stay applies to halt further proceedings. Bayview Loan Servicing LLC v. Fogarty (In re...more

Nelson Mullins Riley & Scarborough LLP

Somebody Call 9011: Counsel and Decedent’s Estate Benchslapped Under Rule 9011 for Repeated Attempts to Circumvent the Bankruptcy...

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In a recent opinion from the United States Bankruptcy Court for the Eastern District of California, Judge Christopher Klein sanctioned a decedent’s estate’s representative and its lawyer for frivolously and repeatedly...more

Fox Rothschild LLP

Is a Postpetition Non-bankruptcy Court Order a Violation of the Automatic Stay?: The Ninth Circuit Bankruptcy Appellate Panel...

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On April 5, 2022, the Ninth Circuit Bankruptcy Appellate Panel (the “BAP”) published an opinion, Censo, LLC v. Newrez, LLC, BAP No. NV-21-1125-LTF (Apr. 5, 2022), which provides a framework for addressing whether a...more

Foster Swift Collins & Smith

Sixth Circuit Upholds Chapter 13 Debtor’s Right to Request and Receive Dismissal of Bankruptcy Case

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A statute must be interpreted and enforced as written, regardless, according to the U.S. Court of Appeals for the Sixth Circuit, “of whether a court likes the results of that application in a particular case.” That legal...more

Ward and Smith, P.A.

Their Aim Wasn't True – The NRA and Bad Faith Bankruptcy Filings

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Bankruptcy offers a temporary sanctuary for parties seeking relief from a variety of problems – financial crisis, lawsuits, collection actions, repossessions, foreclosure, and pandemics. Filing bankruptcy before a money...more

Lowenstein Sandler LLP

Bankruptcy Courts Need Tools To Help Real Estate Debtors

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It has been quite the year. We are experiencing a once-in-a-lifetime economic recession as a result of a pandemic, and we are not done yet. There appears to be a time lag between the pandemic and its fully felt impact on real...more

Winstead PC

Bankruptcy Court Discussed The Fiduciary Duties Owed To A Limited Liability Company And Its Creditors By Its Manager

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In In re Silver State Holdings, in a bankruptcy proceeding a trustee of a limited liability company sued its former manager for breach of fiduciary duty and another entity for conspiracy to breach fiduciary duty arising out...more

Bradley Arant Boult Cummings LLP

Bankruptcy Court Upholds Foreclosure Sale That Occurred Between Bankruptcy Case Dismissal and Subsequent Reinstatement

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Frequently, borrowers file for bankruptcy at the 11th hour to halt foreclosure sales. Once a petition for bankruptcy relief has been filed, secured creditors must cease their collection efforts to avoid violating the...more

Patterson Belknap Webb & Tyler LLP

The Importance of Loan Underwriting When Restrictions on Bankruptcy Cannot Singlehandedly Save the Day: Sutton 58 Associates LLC...

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In sophisticated real estate financing transactions, most prudent lenders attempt to deter borrowers from filing for bankruptcy before loans are paid in full by providing in loan documents that such a filing constitutes an...more

Perkins Coie

Landlords Defeat Debtors Seeking COVID-19 Rent Abatements and Deferrals

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Retail, restaurant, entertainment, and other industries have been devastated by COVID-19 and the resulting governmental orders either precluding or materially limiting operations. In that regard, retail bankruptcy filings...more

Hinshaw & Culbertson LLP

First Circuit Bankruptcy Panel Affirms “Gavel Rule” as Determinative of When a Bankruptcy Debtor’s Right of Redemption Terminates

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The Bankruptcy Appellate Panel for the First Circuit has affirmed an earlier decision that concluded a borrower’s right to redeem terminates when the gavel falls at a foreclosure auction, and not when a deed is recorded. ...more

Obermayer Rebmann Maxwell & Hippel LLP

The Third Circuit Determines That New Jersey Tax Foreclosure Is Subject To Bankruptcy Preference Avoidance

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Unlike mortgage foreclosures, which are immune from fraudulent conveyance avoidance attack, the Third Circuit recently ruled, in a case of first impression, that a transfer of title pursuant to a New Jersey tax sale...more

Nutter McClennen & Fish LLP

Bankruptcy Court Confirms Enforceability of Mortgage Notwithstanding Expiration of Statute of Limitations for Underlying...

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In In re Fortin, 598 B.R. 689 (Bankr. D. Mass. 2019), the United States Bankruptcy Court for the District of Massachusetts considered whether a lender may enforce a mortgage despite the unenforceability of the underlying...more

Smith Debnam Narron Drake Saintsing & Myers,...

First Circuit Affirms Bankruptcy Court’s Judgment in Favor of Mortgage Company

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A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and...more

Rosenberg Martin Greenberg LLP

Maryland Bankruptcy Court Determines Priority of Homeowner Association Fees versus Mortgage Lender's Deed of Trust

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In 2017, the Maryland Court of Appeals in the case of Select Portfolio Servicing, Inc. v. Saddlebrook West Utility Company, 455 Md. 313 (2017) (“Saddlebrook”) held that a provision in a recorded declaration by a utility that...more

Patterson Belknap Webb & Tyler LLP

Subject Matter Jurisdiction in Bankruptcy: The Eleventh Circuit Addresses Related-To Jurisdiction

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The subject matter jurisdiction of bankruptcy courts causes confusion and can be hard to understand. In a recent decision, the United States Court of Appeals for the Eleventh Circuit clarified the meaning of the phrase...more

Patterson Belknap Webb & Tyler LLP

Can Tax Sales Be Set Aside In Bankruptcy? The Federal Courts Are Increasingly Split

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In BFP v. Resolution Tr. Corp., 511 U.S. 531 (1994), the Supreme Court held that a mortgage foreclosure sale conducted in accordance with state law was shielded from avoidance under the Bankruptcy Code’s fraudulent conveyance...more

Hinshaw & Culbertson LLP

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

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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

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