Author Archives: BankruptcyRealEstateInsights

About BankruptcyRealEstateInsights

Vicki R. Harding was a partner in the Detroit office of Pepper Hamilton LLP who moved to Arizona seeking warmer weather. Ms. Harding continues to handle commercial transactions with an emphasis on real estate and bankruptcy issues (but no longer owns a snow shovel).

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 →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment

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 →

Posted in Financing | Tagged , , | Leave a comment

Recording Errors: A Typo Is Not Always Fatal

Posted on June 24, 2015 by BankruptcyRealEstateInsights

Deirdra Renee Gause v. Citifinancial Services, Inc. (In re Deirdra Renee Gause), 525 B.R. 35 (Bankr. M.D. N.C. 2014) – A chapter 13 debtor sought a court determination that a mortgage loan was unsecured because there was a small typo in her … Continue reading →

Posted in Financing, Real Estate | Tagged , , | Leave a comment

Cramdown Hurdles Round 3: Try, Try Again

Posted on June 17, 2015 by BankruptcyRealEstateInsights

In re Ramz Real Estate Co., LLC, 510 B.R. 712 (Bankr. S.D.N.Y. 2013) – An undersecured mortgagee objected to a debtor’s proposed plan of reorganization on several grounds, including that (1) the plan was not approved by a proper impaired class … Continue reading →

Posted in Financing, Real Estate | Tagged , | Leave a comment

Security Agreement: When Drafting You Better Say What You Mean

Posted on June 10, 2015 by BankruptcyRealEstateInsights

State Bank of Toulon v. Covey (In re Duckworth), 776 F.3d 453 (7th Cir. 2014) – A chapter 7 trustee sought to treat a secured lender as unsecured based on an error in the security agreement.  The lender argued that the error … Continue reading →

Posted in Financing | Tagged , | Leave a comment

“Deed in Lieu”: Deed That Is Not Really In Lieu Of Foreclosure Will Likely Not Be Treated As a Deed

Posted on June 3, 2015 by BankruptcyRealEstateInsights

In re Primes, 518 B.R. 466 (Bankr. N.D. Ill. 2014) – A mortgagee moved for relief from the automatic stay, arguing that it acquired title to property prior to the bankruptcy under a quit claim deed given to it by the … Continue reading →

Posted in Financing, Real Estate | Tagged | Leave a comment