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Read Bankruptcy Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Tenants Beware – The Ninth Circuit Has Ruled That The Bankruptcy Code Can Be Used By A Landlord To Strip A Tenant’s Right To...

by Ervin Cohen & Jessup LLP on

Just last month, the Ninth Circuit issued a ruling in the case of Matter of Spanish Peak Holding II, LLC, that is potentially devastating to a tenant that leases property from a landlord that files for bankruptcy relief....more

Transfer To Non-Existent Corporation Held To Be A Transfer Nonetheless

by Allen Matkins on

Sometimes, the law is just weird. The case of PGA West Residential Ass’n, Inc. v. Hulven Int’l, Inc., Cal. Ct. App. Case No. E064270 (Aug. 9, 2017) is weirder than most. The lawsuit alleged that the defendant had tried to...more

Can a Receiver be Sued for Not Paying a Pre-Receiver Creditor?

by Ervin Cohen & Jessup LLP on

Question: I am the Receiver for a condo project. A pre-receivership creditor has threatened to sue me because I won’t pay for the services he provided the defendant. I have explained to the creditor that the receivership is...more

Ninth Circuit Applies Replacement Value in Cramdown Even If Lower Than Liquidation Value

In a decision that addresses the value to apply to a secured creditor’s collateral facing cramdown, the Ninth Circuit, sitting en banc, reaffirms that, in determining cramdown value, a secured creditor is only entitled to the...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

When is a Wrongful Foreclosure Case a “SLAPP”?

California’s anti-SLAPP statute (Code of Civil Procedure section 425.16) arms a defendant with an early method to challenge a lawsuit known as a “SLAPP” — a Strategic Lawsuit Against Public Participation. SLAPPs are...more

Tax Treatment of “Bad Boy Guarantees” Challenged by Recent IRS Memorandum

by Morrison & Foerster LLP on

I. OVERVIEW - A recently released legal memorandum by the Internal Revenue Service (IRS) Office of Chief Counsel, CCA 201606027 (the “Memorandum”), concluded that a so-called “bad boy guarantee” provided by a sponsor of...more

Stripping of Unsecured Second Mortgages in Chapter 7 Bankruptcies in the Crosshairs

by Carlton Fields on

Since its 1989 opinion in Folendore v. Small Business Admin., the Eleventh Circuit Court of Appeals has allowed debtors to completely strip off and void wholly unsecured junior liens in Chapter 7 bankruptcies under Section...more

Massachusetts Bankruptcy Court Holds that Homestead Protection is Available for Certain Home Offices

by Partridge Snow & Hahn LLP on

The United States Bankruptcy Court for the District of Massachusetts recently issued a decision in the case of In re Walter D. Catton, Jr. shedding light on the Massachusetts homestead statute and its application to home...more

Substantive Consolidation: When Abuse Goes Too Far An LLC Will Not Shield Assets

by Pepper Hamilton LLP on

In re Carroll, 520 B.R. 491 (Bankr. M.D. La. 2014) – A chapter 7 trustee sought to substantively consolidate the bankruptcy estates of individual chapter 7 debtors with the separate bankruptcy estate of their wholly owned...more

Real Estate Finance Deals: Jersey Law Update

by K&L Gates LLP on

Jersey LLPs: a new dawn as investment and property holding vehicles A recent amendment to the Limited Liability Partnership (Jersey) Law 1997 (the "Law") could see Jersey Limited Liability Partnerships (Jersey LLPs) gain...more

What happens to a Land Contract Purchase of Real Estate when the Purchaser files for Bankruptcy?

by Jason Wischmeyer on

When a property is purchased on contract, land contract or some other form of agreement where the purchaser is renting to own real estate and the purchaser files for bankruptcy it can leave the seller in a precarious...more

Residential Capital Files Bankruptcy: Part 2 of 2

by Bilzin Sumberg on

In Part 1 of this series, we discussed the circumstances leading to the bankruptcy filing of Residential Capital (ResCap), a residential mortgage loan originator and a subsidiary of Ally Financial Inc. (formerly...more

Has the Pennsylvania Superior Court Created Chaos and Uncertainty for Existing and Already Completed Foreclosures?

by Evan Pappas on

The recently reported three (3) panel decision in Vukman v. Beneficial Consumer Discount Company brings into play the validity of using the Uniform Act 91 Notice that was adopted on June 5, 1999 by the Pennsylvania Housing...more

The Ninth Circuit Strengthens Secured Lenders’ Rights in Single Asset Real Estate Bankruptcy Cases

by K&L Gates LLP on

In In re Meruelo Maddox Properties, Inc., -- F.3d ---, No. 10-56128 (9th Cir. Jan. 27, 2012), the United States Court of Appeals for the Ninth Circuit recently rejected the “whole enterprise” exception to the...more

Ninth Circuit Issues a Bankruptcy Opinion Favorable to Lenders to SPEs

by Dechert LLP on

In its recent decision in Meruelo Maddux Properties, Inc., the Court of Appeals for the Ninth Circuit held that an entity that meets the definition of a “single real estate” debtor under the Bankruptcy Code...more

Real Estate Lenders Rejoice: Ninth Circuit Holds that the Property Held by One Debtor in a Bankruptcy Case Involving a...

On January 27, 2012, the Ninth Circuit Court of Appeals held that a property level debtor was subject to the single asset real estate provisions of the Bankruptcy Code even though the debtor was one of fifty-three debtor...more

Homeowner Association Danger in Bankruptcy

If you are a homeowner association member filing for bankruptcy, there is an obscure provision in the law you must be aware of. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) passed in 2005 allows these...more

Rev.Pontos de Vista-2011-Real Estate and Companies Bankruptcy

by Jose Saramago on

In an interview to the Magazine "Pontos de Vista", I have tried to covered various and actuals topics, ie, the real estate appraisal, subject in focus after the memorandum signed between Portuguese Governement, IMF and...more

Flopping or a Valid Increase in Market Value?

by Keith Barton on

Real Estate Investors are frequently criticized by Agents and Brokers because investors seemingly make huge profits in one day by purchasing a house for a low price and selling it for much more money. Investors flip houses on...more

CR&B Alert: Commercial Restructuring & Bankruptcy News - December 2010, Issue 4

by Reed Smith on

IN THIS ISSUE: • Swaps — page 2 • Delaware Bankruptcy Court Sheds Light on the Common Interest Doctrine Preventing the Waiver of Privileged Communications — page 2 • The Donald Trumps Icahn - Intercreditor Agreement...more


by Robert Chambers on

ADVANTAGES AND DISADVANTAGES OF FILING CHAPTER 7 BANKRUPTCY Northern District of Georgia, Gainesville, Ga....more

False financial statements are forever

by James J. Falcone on

Presenting false financial information to qualify for a loan, lease, or other purpose may have no legal consequences if the provider lives up to the agreement. But if the deal goes sour,the statements can reappear and result...more

The Subprime Mortgage Crisis – National City Bank’s Story

by Timothy Warner on

In mid- 2007, Cleveland, Ohio’s National City Bank (“National City”) was a leading regional bank and one of the ten largest banks in the United States in terms of deposits and mortgages. Its stock was trading comfortably in...more

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