Monthly Archives: June 2014

Foreclosure Sale: In a Race With a Bankruptcy Filing, Who Wins?

RBS, Inc. v. Bell (In re Bell), 507 B.R. 898 (S.D. W.Va. 2014) – The purchaser at a foreclosure sale sought relief from the automatic stay to complete the sale. The bankruptcy court denied the request on the basis that … Continue reading

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Entireties Property, Etc.: Who Can Grab the Rents?

In re Adams, 506 B.R. 688 (Bankr. E.D.N.C. 2014) – An individual debtor owned commercial real estate with his wife as tenants by the entireties and co-owned some rental properties with his son as tenants in common. The chapter 7 trustee … Continue reading

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Stay Pending Appeal: Some Days A Stay Is Easier to Obtain Than Others

A&F Enterprises v. IHOP Franchising LLC, 742 F.3d 764 (7th Cir. 2014) – Chapter 11 debtors appealed a determination that their building leases were deemed rejected because they were not timely assumed.  Both the bankruptcy court and district court denied … Continue reading

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Missing Mortgage Details: At the End of the Day These Mortgages Survived

In re Crane, 742 F.3d 702 (7th Cir. 2013) – Chapter 7 trustees sought to avoid mortgages in two separate cases using their strong-arm powers. They argued that failure to include the loan maturity date and interest rate in the … Continue reading

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Bankruptcy Sale: No Stay Pending Appeal, Then No Appeal?

Rushton v. ANR Company, Inc. (In re C.W. Mining Co.), 740 F.3d 548 (10th Cir. 2014) – After a chapter 7 trustee sold assets of the debtor in a bankruptcy sale, he sought to dismiss various pending appeals involving issues relating … Continue reading

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LLC Membership Transfer: Is Expulsion of a Member a Preferential Transfer?

Garcia v. Garcia (In re Garcia), 507 B.R. 434 (Bankr. E.D.N.Y. 2014) – Limited liability company (LLC) membership interests owned by a debtor were transferred to other LLC members after they expelled him shortly before his Chapter 11 bankruptcy. The … Continue reading

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Bankruptcy Estate: When Is A Joint Venture A Partnership (And Who Cares)?

Bank of England v. Rice (In re Webb), 742 F.3d 824 (8th Cir. 2014) – A chapter 7 trustee sought to enjoin a bank from enforcing its security interest in rice and farming equipment that the trustee contended were assets of … Continue reading

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