Monthly Archives: November 2012

Condo Liens: Judicial Lien v. Security Interest v. Statutory Lien – And Who Cares?

Young v. 1200 Buena Vista Condominiums, 477 B.R. 594 (W.D. Pa. 2012) – Young, a chapter 13 debtor, sought to avoid a condominium association lien for assessments because his chapter 13 plan was feasible only if a large portion of the lien … Continue reading

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Valuing Collateral: Do Low-Income Housing Tax Credits Count?

In re Creekside Senior Apartments, LP, 477 B.R. 40 (6th Cir. B.A.P. 2012) – In valuing a bank claim secured by a low-income housing project for purposes of a plan of reorganization, should the remaining federal low‑income housing tax credits … Continue reading

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Foreclosure Sale: Does a Week-to-Week Adjournment Violate the Automatic Stay?

Henson v. Bank of America, N.A. (In re Henson), 477 B.R. 786 (Bankr. D. Colo. 2012) – In Henson a foreclosure sale was stayed by the debtors’ filing of a chapter 13 bankruptcy.  The bank allowed the sale date to be … Continue reading

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High-Cost Loan Preemption: Who is the Lender in a Table-Funded Loan?

Thomas v. Citimortgage (In re Thomas), 476 B.R. 691 (Bankr. D. Mass. 2012) – Massachusetts has enacted a Predatory Home Loan Practices Act (Chapter 183C), which among other things requires that lenders making “high-cost” mortgage loans must (i) obtain a … Continue reading

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Refinance Mortgage: “Strong Arm” Powers Meet Equitable Subrogation

Green v. HSBC Mortgage Services, Inc. (In Re Green), 474 B.R. 790 (Bankr. D. Md. 2012) – In Green, a lender refinanced a first priority deed of trust loan that had been made by IndyMac Bank, F.S.B.  For some unknown … Continue reading

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Construction Trust Funds: Does Failure to Pay Give Rise to a Non-Dischargeable Debt?

Reshetar Systems, Inc. v. Thompson, 686 F.3d 940 (8th Cir. 2012) – Scott Thompson, the owner and manager of a construction company, signed a confession of judgment accepting liability for the company’s failure to pay its subcontractor sums received from … Continue reading

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Bidders Beware: Collusion to Control Sale Price Is Subject to Sanctions

Boyer v. Gildea, 475 B.R. 647 (N.D. Ind. 2012) – In Gildea, the bankruptcy trustee claimed that a group of insiders colluded with the purchaser of the debtor’s assets at a Section 363 auction to control the sale price.  Consequently … Continue reading

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