News & Analysis as of

Single-Asset Debtor

Direct Issuance is Here – A New Paradigm for Single Asset Single Borrower (SASB) Securitization

by Dechert LLP on

A standalone securitization of a portfolio of properties closed in June. To our knowledge, this was the first transaction in recent memory done in a direct issuance format. In this case, direct issuance means that the...more

Summary of HUD's LEAN 232 Program Email Blast Office of Residential Care Facilities (ORCF) August 28, 2015

by Pepper Hamilton LLP on

The August 28, 2015 LEAN Email Blast contains information on the final rule regarding fire safety equipment, the new delegated underwriter approval process, the Green Lane, and the mortgage termination process, among other...more

Loan to Own Variation: Bankruptcy May Not Provide The Answers

by Pepper Hamilton LLP on

In re SR Real Estate Holdings, LLC, 506 B.R. 121 (Bankr. S.D. Cal. 2014) – A group of lenders moved to dismiss the debtor’s bankruptcy case on the basis that it was filed in bad faith, or in the alternative asked the...more

Fifth Circuit Rejects “Artificial Impairment” Standard in Confirmation of Single Asset Real Estate Plan

by King & Spalding on

In a pro-debtor opinion released on February 26, 2013, the Fifth Circuit Court of Appeals held that a debtor may “artificial impair” claims in a class to obtain an impaired and accepting class of claims as required by section...more

When Lenders are the Losers in Bankruptcy Court...Well, Not so Fast

by Dechert LLP on

Last October, I wrote about a scheme employed, in three separate bankruptcy cases, by debtors seeking to evade the absolute priority rule in order to keep the real property owned by the debtor in the hands of the ‘family’ at...more

Castleton Ruling Fortifies 7th Circ. Pro-Creditor Trend

by Bilzin Sumberg on

Originally published in Law360, February 22, 2013. As real estate markets continue to rebound, owners of single asset real estate properties are increasingly incentivized to devise bankruptcy strategies that allow them...more

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