Monthly Archives: September 2014

Subcontractor Claims: What Can You Do Once Your General Contractor Files Bankruptcy?

Posted on September 30, 2014 by BankruptcyRealEstateInsights

Branch Banking & Trust Co. v Construction Supervision Services, Inc. (In re Construction Supervision Services, Inc.), 753 F.3d 124 (4th Cir. 2014) – After a general contractor filed bankruptcy, several of its subcontractors requested clarification from the court about whether … Continue reading →

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LLC Operating Agreement: Is A Purchase Option Enforceable Against A Bankrupt Member?

Posted on September 26, 2014 by BankruptcyRealEstateInsights

In re Denman, 513 B.R. 720 (Bankr. W.D. Tenn. 2014) – A chapter 13 debtor was a member of a limited liability company. Another member sought relief from the automatic stay in order to exercise a right to acquire the … Continue reading →

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Delayed Recording: Sometimes Late Is No Better Than Never

Posted on September 23, 2014 by BankruptcyRealEstateInsights

Collins v. JP Morgan Chase Bank, N.A. (In re Flannery), 513 B.R. 1 (Bankr. D. Mass. 2014) – A chapter 7 trustee sought to avoid as a preference a mortgage that was recorded within 90 days before a bankruptcy filing. The … Continue reading →

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Equitable Subrogation: “Complete and Perfect Justice” Requires Party To Be Without Fault

Posted on September 19, 2014 by BankruptcyRealEstateInsights

Ocwen Loan Servicing LLC v. Summit Bank, N.A. (In re Francis), 750 F.3d 754 (8th Cir. 2014) – A lender that attached the wrong legal description to its recorded mortgage sought equitable subrogation and/or reformation of the mortgage in order to … Continue reading →

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Credit Bid (Round 2): What Does It Take to Show “Cause”?

Posted on September 16, 2014 by BankruptcyRealEstateInsights

In re Charles Street African Methodist Episcopal Church of Boston, 510 B.R. 453 (Bankr. D. Mass. 2014) – In connection with a proposed sale of real property, a chapter 11 debtor sought to prohibit the mortgagee from submitting a credit bid. It … Continue reading →

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Credit Bid: Loan-to-Own Strikes Out

Posted on September 12, 2014 by BankruptcyRealEstateInsights

In re The Free Lance-Star Publ’g Co. of Fredericksburg, VA, 512 B.R. 798 (Bankr. E.D. Va. 2014) – After the debtors obtained court approval of bidding procedures to auction substantially all of their assets, a secured creditor sought a court … Continue reading →

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