Monthly Archives: July 2015

Credit Bidding: Not An Absolute Right (And What Does That Mean?)

Posted on July 29, 2015 by BankruptcyRealEstateInsights

In re RML Dev., Inc., 528 B.R. 150 (Bankr. W.D. Tenn. 2014) – A mortgagee sought to modify a sale order to (1) modify the bid procedures and (2) confirm that it had a right to credit bid.

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Claim Amount: It Pays To Pay Attention

Posted on July 22, 2015 by BankruptcyRealEstateInsights

In re Walker, 526 B.R. 187 (E.D. La. 2015) – The bankruptcy court (1) denied a mortgage lender’s request to file a late amendment to a proof of claim that had been filed on its behalf by the debtor and (2) … Continue reading →

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Good Faith Deposit: Who Gets To Keep the Cash?

Posted on July 15, 2015 by BankruptcyRealEstateInsights

Lawrence v. Commonwealth of Ky. Transportation Cabinet (In re Shelbyville Road Shoppes, LLC), 775 F.3d 789 (6th Cir. 2015) – A chapter 7 trustee sought return of a “good faith” deposit made prior to bankruptcy in connection with a proposed purchase of … Continue reading →

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Foreclosed Property: Related Rights May Be Tricky

Posted on July 8, 2015 by BankruptcyRealEstateInsights

Cooper v. WPD Poplar Ridge, LLC (In re Poplar Ridge, LLC), 526 B.R. 147 (W.D. N.C. 2015) – After a developer defaulted, the trustee under a deed of trust held a pre-petition foreclosure sale.  The issue was whether the developer debtor’s … Continue reading →

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Intercreditor Agreements: Recognize That Second Lien Financings Are A Special Case Of Subordinated Lending

Posted on July 1, 2015 by BankruptcyRealEstateInsights

BOKF, N.A. v. JPMorgan Chase Bank, N.A. (In re MPM Silicones, LLC), 518 B.R. 740 (Bankr. S.D.N.Y. 2014) – Senior lienholders sued lenders holding junior liens on common collateral, arguing that the junior lienholders violated an intercreditor agreement.  The bankruptcy court … Continue reading →

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