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).

Bankruptcy Sales: “Free and Clear”… Or Not

Posted on February 21, 2014 by BankruptcyRealEstateInsights

In re Hassen Imports P’ship, 502 B.R. 851 (C.D. Cal. 2013) – A chapter 7 trustee sought to sell real estate “free and clear” of certain prepetition contracts and covenants between the debtor and a city, as successor of a redevelopment agency.  … Continue reading →

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Delinquent Property Tax Sales (Again): “Reasonably Equivalent Value” – No Way, No How

Posted on February 18, 2014 by BankruptcyRealEstateInsights

County of Clinton v. Warehouse at Van Buren Street, Inc., 492 B.R. 278 (N.D.N.Y. 2013) – A chapter 11 debtor sought to recover real estate that was transferred prepetition to the county following the debtor’s default in a property tax foreclosure proceeding.  … Continue reading →

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Chapter 11 Claim: Nonrecourse + No Equity = Disallowed Claim… Or Maybe Not

Posted on February 14, 2014 by BankruptcyRealEstateInsights

In re B.R. Brookfield Commons No. 1 LLC, 735 F.3d 596 (7th Cir. 2013) – A chapter 11 debtor sought to disallow the claim of a second mortgagee that held a nonrecourse loan that was totally underwater (i.e., the property was worth … Continue reading →

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Mortgage “Strip Off” in Chapter 7: Dewsnup Fails to Prevail – Go Figure

Posted on February 11, 2014 by BankruptcyRealEstateInsights

McNeal v. GMAC Mortgage, LLC (In re McNeal), 735 F.3d 1263 (11th Cir. 2012) – A chapter 7 debtor sought to “strip off” the second mortgage lien on her home.  The bankruptcy and district courts declined, and the debtor appealed to … Continue reading →

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Untimely Secured Proof of Claim: The Ghost of Dewsnup May Save the Day

Posted on February 7, 2014 by BankruptcyRealEstateInsights

Shelton v. Citimortgage, Inc. (In re Shelton), 735 F.3d 747 (8th Cir. 2013) – A secured creditor holding a mortgage on the residence of two chapter 13 debtors filed a proof of claim almost seven months after the claims bar date.  The … Continue reading →

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Delinquent Property Taxes: Beware the Risk of Tax Deeds

Posted on February 4, 2014 by BankruptcyRealEstateInsights

Smith v. SIPI, LLC (In re Smith), 501 B.R. 843 (Bankr. N.D. Ill. 2013) – Chapter 13 debtors (the Smiths) lost their residential property in a pre-petition delinquent property tax sale.  The tax sale purchaser (SIPI) resold the property to a … Continue reading →

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