Category Archives: Real Estate

Real Estate

Post-Petition Interest: Default Rate Is Not a Slam Dunk

Posted on August 1, 2014 by BankruptcyRealEstateInsights

In re Residential Capital, LLC, 508 B.R. 851 (Bankr. S.D.N.Y. 2014) – An oversecured creditor claimed post-petition interest at the contract default rate. The debtors and the post-confirmation liquidating trust objected, arguing that the lender should be limited to the … Continue reading →

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Sale “Free and Clear”: Adequate Protection of Nothing is Nothing

Posted on July 29, 2014 by BankruptcyRealEstateInsights

In re Elk Grove Village Petroleum, 510 B.R. 594 (Bankr. N.D. Ill. 2014) – After substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover … Continue reading →

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Strong Arm Powers: For Want of An “S” the Mortgage Was Lost

Posted on July 22, 2014 by BankruptcyRealEstateInsights

Hardesty v. Mortgage Electronic Registration Systems, Inc. (In re Boothe), 510 B.R. 154 (Bankr. S.D. Ohio 2013) – A chapter 7 trustee successfully sought to avoid a mortgage using his “strong arm” powers on the basis that the mortgage was not … Continue reading →

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Lease Abatement: The Act of Eliminating or Nullifying

Posted on July 18, 2014 by BankruptcyRealEstateInsights

N. Providence, LLC v. Great Atlantic & Pacific Tea Co., Inc. (In re Great Atlantic & Pacific Tea Co., Inc.), 510 B.R. 42 (S.D.N.Y. 2014) – A lease provided that if the landlord failed to pay a construction allowance when … Continue reading →

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Sale Free and Clear: Permitted “Matters of Record” May Be Broader Than You Expect

Posted on July 15, 2014 by BankruptcyRealEstateInsights

In re Joan Fabrics Corp., 508 B.R. 881 (Bankr. D. Del. 2014) – The buyer of assets in a bankruptcy sale sought to enforce its asset purchase agreement against a county that was seeking to collect personal property taxes arising … Continue reading →

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Homestead (And Other) Exemptions: Some Fraud Counts More Than Others

Posted on July 11, 2014 by BankruptcyRealEstateInsights

Law v Siegel, 134 Sup.Ct. 1188, 188 L.Ed.2d 146 (2014) – A bankruptcy court ordered that a debtor’s homestead exemption be surcharged to pay the attorney’s fees of a Chapter 7 incurred in overcoming the debtor’s fraud. The order was affirmed … Continue reading →

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