Category Archives: Financing

Prepetition Post-Default Rents: Who Gets the Cash – Round 2?

In re Prospect Studios, L.P., 478 B.R. 367 (Bankr. W.D. Mo. 2012) – In Prospect Studios, the law firm representing a chapter 11 debtor requested court authority to apply a prepetition retainer to payment of its fees.  Since the source of … Continue reading

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Prepetition Fire Insurance Proceeds: Who Gets the Cash?

Crews v. TD Bank, N.A. (In re Crews), 477 B.R. 835 (Bankr. M.D.Fla. 2012) – A mortgaged building was destroyed by fire prior to the mortgagor’s bankruptcy filing.  In an earlier opinion the bankruptcy court held in that the mortgagee had … Continue reading

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“Loan to Own” Debtor: Public Interest Overrides Bad Faith Filing

In re 1701 Commerce, LLC, 477 B.R. 652 (Bankr. N.D. Tex. 2012) – The capital stack for Presidio Hotel Fort Worth, L.P. consisted of (1) a senior loan of $39.6 million from Dougherty Funding, LLC, (2) a junior loan from … Continue reading

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Golf Fees As Cash Collateral: Strike Three You’re Out

Far East Nat’l Bank v. U.S. Trustee, San Diego (In re Premier Golf Properties, LP) 477 B.R. 767 (9th Cir. B.A.P. 2012) – Cash collateral is defined in the Bankruptcy Code as including cash, negotiable instruments, deposit accounts, or other cash … Continue reading

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Valuing Collateral: Do Low-Income Housing Tax Credits Count?

In re Creekside Senior Apartments, LP, 477 B.R. 40 (6th Cir. B.A.P. 2012) – In valuing a bank claim secured by a low-income housing project for purposes of a plan of reorganization, should the remaining federal low‑income housing tax credits … Continue reading

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Foreclosure Sale: Does a Week-to-Week Adjournment Violate the Automatic Stay?

Henson v. Bank of America, N.A. (In re Henson), 477 B.R. 786 (Bankr. D. Colo. 2012) – In Henson a foreclosure sale was stayed by the debtors’ filing of a chapter 13 bankruptcy.  The bank allowed the sale date to be … Continue reading

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