Monthly Archives: November 2013

Letter of Credit: Not A Financial Accommodation, Executory Contract Or Even A Contract?

Rafool v. Evans, 497 B.R. 312 (C.D. Ill. 2013) – A chapter 7 trustee brought a legal malpractice case against a debtor’s prepetition attorneys for failing to advise the debtor to draw on letters of credit prior to filing bankruptcy.  The case turned … Continue reading

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Single Asset Real Estate Case: How Single is Single?

In re Yishlam, Inc., 495 B.R. 328 (Bankr. S.D. Tex. 2013) – The debtor owned units in two apartment buildings.  Shortly after it filed bankruptcy, its mortgage lender sought a determination that it was a “single asset real estate” debtor under … Continue reading

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