Monthly Archives: March 2013

Secured Claims: What Does it Take to Extinguish a Lien Through a Plan?

Posted on March 29, 2013 by BankruptcyRealEstateInsights

In re Omega Optical, Inc., 476 B.R. 157 (Bankr. E.D.Pa. 2012) – A bank filed a proof of claim in a bankruptcy that erroneously identified its claim as unsecured.  After confirmation of a chapter 11 plan of reorganization that treated the claim … Continue reading →

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Priority Fight: Equipment Vendor Takes On Mortgagee

Posted on March 26, 2013 by BankruptcyRealEstateInsights

MTGLQ Investors, LP v. Bresco Solutions, LLC (In re Marvel Cliff Crossing Apartments, LLC), 484 B.R. 175 (Bankr. S.D. Ohio 2012) – In Marvel Cliff, an equipment vendor sold and installed security cameras and wireless internet access equipment together with related … Continue reading →

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Mortgagee “Cramdown”: Sometimes You Just Can’t Win

Posted on March 22, 2013 by BankruptcyRealEstateInsights

Fed. Nat’l Mortgage Ass’n v. Village Green I, GP, 483 B.R. 807 (W.D. Tenn. 2012) – Fannie Mae objected to a “cramdown” plan of reorganization, arguing that (i) the accepting class of creditors was artificially impaired, (ii) the modification of its … Continue reading →

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Sales “Free and Clear”: What is an “Interest”?

Posted on March 19, 2013 by BankruptcyRealEstateInsights

In re Mundy Ranch, Inc., 484 B.R. 416 (Bankr. D. N.M. 2012) – In Mundy Ranch, a corporate debtor moved to sell real estate that it owned free and clear of interests under Section 363(f) of the Bankruptcy Code.  A … Continue reading →

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Mortgagee Standing: This Time MERS Is Not The Problem (a/k/a Sloppy Securitization Procedures Strike Again)

Posted on March 15, 2013 by BankruptcyRealEstateInsights

In re Idicula, 484 B.R. 284 (Bankr. S.D. N.Y. 2013) – A servicer acting on behalf of U.S. Bank National Association, as trustee on behalf of holders of asset backed pass-through certificates, moved for relief from the automatic stay in order to … Continue reading →

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Deed in Lieu: Sometimes It Works, and Sometimes It Doesn’t (Round 2)

Posted on March 12, 2013 by BankruptcyRealEstateInsights

In re Kaltenheuser, 474 B.R. 305 (Bankr. D. D.C. 2012) – In Kaltenheuser, a deed in lieu of foreclosure was executed and placed in escrow in connection with a settlement agreement approved by a state court order.  If the mortgagor failed … Continue reading →

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