Mortgages, Bankruptcy Code

The Supreme Court Update - October 16, 2023

Dorsey & Whitney LLP on 10/17/2023

On October 13, 2023, the Supreme Court of the United States granted certiorari in 4 cases: Relentless, Inc. v. Department of Commerce, 22-1219: This is the second case that the Court has agreed to hear this term...more

Credit Union Client Alert - September 2023

Kaufman & Canoles on 9/11/2023

In a recently published opinion by Fourth Circuit Judge Quattlebaum, Jr., the majority of the panel found there to be a genuine dispute of material fact in Plaintiff Mark Anthony Guthrie’s North Carolina Debt Collection Act...more

Contiguous Condominiums Are Not “SARE”

Pillsbury Winthrop Shaw Pittman LLP on 6/30/2023

Lacking a common scheme or plan, two adjacent commercial condominium units owned by the same debtor and subject to the same mortgage and deed, but having different tenants, commercial uses, plans for commercial development...more

Mortgage Loan Repurchase Facilities: A Brief Overview of a Frequently Used Financing Structure

Dechert LLP on 5/5/2023

A mortgage loan repurchase facility (more casually referred to as a “repo”) is a financing structure commonly utilized to finance mortgage loans. These facilities are utilized by both residential and commercial mortgage loan...more

Ontario Court of Appeal Considers Interpretation of “Creditors or Others” Under the Fraudulent Conveyances

Bennett Jones LLP on 1/9/2023

The Ontario Fraudulent Conveyances Act (the FCA), a concise statute of long-standing that traces its history to an English statute of 1571, is intended to prevent conveyances of property made with the intent to defeat,...more

We Wish You a Happy Thanksgiving as We Count Our Blessings

Bradley Arant Boult Cummings LLP on 11/28/2022

As we all hit the grocery store for that forgotten cranberry sauce and send a few last urgent work emails, we hope everyone is able to be with friends and family this Thanksgiving. Here at Bradley, we are counting our...more

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

Cadwalader, Wickersham & Taft LLP on 10/26/2022

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

Recent Developments in Bankruptcy Law Update - July 2022

Jenner & Block on 8/5/2022

Covered Activities - 1.1.a Order granting counterclaim declaring validity of mortgage on the debtor’s property does not violate the stay. The debtor acquired property subject to a disputed mortgage. The debtor brought a...more

Divided Fifth Circuit Panel Suggests Bankruptcy Strong-Arm Power Precludes Reforming Mortgages After Petition Date

King & Spalding on 7/29/2022

On April 14, 2022, in an unpublished, divided opinion affirming lower-court orders disallowing a creditor’s claim and declaring the creditor’s mortgage invalid and unenforceable, the U.S. Court of Appeals for the Fifth...more

Undisclosed Arrears Come Back to Bite Bank

Nelson Mullins Riley & Scarborough LLP on 1/7/2022

Federal Rule of Bankruptcy Procedure 3002.1 was implemented to protect debtors from unanticipated deficiencies in residential mortgage payments following a chapter 13 discharge, and the Bankruptcy Court for the District of...more

Bradley’s Bankruptcy Basics: COVID-19 Bankruptcy Relief Extension Act Extends Various CARES Act Amendments to the Bankruptcy Code

Bradley Arant Boult Cummings LLP on 4/15/2021

Last March, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made several changes to the Bankruptcy Code, including those changes discussed in more detail here. As it...more

Bradley’s Bankruptcy Basics: 5 Significant (if Temporary) Amendments to the Bankruptcy Code Resulting from the COVID-19 Pandemic

Bradley Arant Boult Cummings LLP on 3/19/2021

As we cross the one-year anniversary of the COVID-19 pandemic, we reflect on the multiple amendments to the Bankruptcy Code that have been implemented to help curb the effects of various economic shutdowns and financial...more

Legislation Introduced To Extend CARES And CAA Bankruptcy Provisions

Levenfeld Pearlstein, LLC on 3/9/2021

On February 25, 2021, Senators Durbin and Grassley introduced bipartisan legislation to extend the expiration dates of certain bankruptcy provisions of the CARES Act and the Consolidated Appropriations Act to March 27, 2022. ...more

Consolidated Appropriations Act of 2021 Amends Bankruptcy Code - Part 2: Amendments Affecting Mortgage Lenders and Landlords

Mintz - Bankruptcy & Restructuring Viewpoints on 2/1/2021

As discussed in a previous post, the Consolidated Appropriations Act of 2021 (the “Act”), which was enacted on December 27, 2020 in response to the economic distress caused by the COVID-19 pandemic, amended numerous...more

Structured Finance Spectrum – January 2021

Alston & Bird on 1/11/2021

Moving on from 2020 and building up for 2021. Read our Structured Finance Spectrum, covering safe harbors & remedies, CLOs & QMs, and passive & ESG investing, among other hot-topic issues in the structured finance markets in...more

Thou Shall Not Interfere With Special Purpose Entities’ Contractual Obligations

Dechert LLP on 1/4/2021

A recent decision of the New York Court of Appeals, Sutton v. Pilevsky held that federal bankruptcy law does not preempt state law tortious interference claims against non-debtors who participated in a scheme that caused a...more

New Options for Creditors: Florida Adopts the Uniform Commercial Real Estate Receivership Act

Lowndes on 7/8/2020

Until July 1, 2020, there was no comprehensive statutory scheme for the appointment receivers of commercial real estate in Florida. Instead, receiverships of commercial real estate had been governed only by a patchwork of...more

Potential Bankruptcy Strategies for Stakeholders in Real Estate Transactions; Relevant Provisions of the U.S. Bankruptcy Code

Greenbaum, Rowe, Smith & Davis LLP on 4/9/2020

In light of the ongoing economic impacts of the COVID-19 pandemic, and although Chapter 11 of the U.S. Bankruptcy Code pertains to many industries, there are certain real estate related provisions of which owners and tenants...more

Mortgages › Bankruptcy Code