Monthly Archives: May 2014

Upsetting a Bankruptcy Auction: Money Talks

In re Sunland, Inc., 507 B.R. 753 (Bankr. D. N.M. 2014) – After a bankruptcy auction to sell a peanut manufacturing plant concluded, but before a court hearing to approve the sale, a chapter 7 trustee received a substantially higher bid … Continue reading

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Rents in Bankruptcy: Grab While You Can and You May Hold A Winning Hand

In re Madison Heights Group, LLC, 506 B.R. 728 (Bankr. E.D. Mich. 2013) – A mortgagee exercised its assignment of rents prior to bankruptcy. After a Chapter 11 case was filed, the debtor sought court authority to use rents from the … Continue reading

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Bankruptcy Sales: “Free And Clear” Meets Tax Injunction Act

In re Old Carco LLC, 505 B.R. 151, (Bankr. S.D.N.Y. 2014) – A bankruptcy purchaser filed a motion with the bankruptcy court to prevent state tax authorities from using the debtor’s experience rating to determine purchaser’s unemployment insurance tax rate. … Continue reading

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Affiliates and Insiders: Is A Limited Liability Company A Corporation (And Who Cares)?

Redmond v. CJD & Assocs., LLC (In re Brooke Corp.), 506 B.R. 560 (Bankr. D. Kan. 2014) – A preference defendant sought to amend its answer more than 21 months after the answer was filed to deny its “insider” status. … Continue reading

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Constructive Notice of Bankruptcy: When Is A Mailing Address Good Enough?

In re Cunningham, 506 B.R. 334 (Bankr. E.D.N.Y. 2014) – A mortgagee continued with foreclosure of a mortgage after the debtor filed bankruptcy because it was not aware of the filing. When the debtor later sought to vacate the foreclosure … Continue reading

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Post Confirmation Loan Documents: What Happens If The Parties Don’t Agree?

In re Chatham Parkway Self Storage, LLC, 507 B.R. 13 (Bankr. S.D. Ga. 2014) – The provisions in a confirmed chapter 11 plan of reorganization dealing with an allowed secured claim (1) outlined the post confirmation loan terms and (2) provided that … Continue reading

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Landlord Stub Rent Claim: Administrative Priority Or Not?

In re Oreck Corp., 506 B.R. 500 (Bankr. M.D. Tenn. 2014) – A commercial landlord sought allowance of its claim for “stub rent” as an administrative expense – either because of the requirement that lease obligations be timely performed prior … Continue reading

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