Category Archives: Real Estate

Real Estate

Failure to Negotiate Mortgage Note: “Strong Arm” Powers With A Twist

Rogan v. Vanderbilt Mortgage & Finance, Inc. (In re Dorsey), 491 B.R. 464 (Bankr. E.D. Ky. 2013 – A chapter 7 trustee sought to use his “strong arm” powers as a hypothetical judgment lien creditor, arguing that a mortgage could be avoided … Continue reading

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Assignment of Rents: Absolute May Not Be So Absolute – Round 2

In re Augusta Center, LLC, 491 B.R. 298 (Bankr. S.D. Ga. 2013) – The debtor owned and operated a hotel property.  After it filed bankruptcy, it asked the court for authorization to use cash collateral (e.g. rents and revenues of the … Continue reading

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Strong Arm Powers: What Happens When a Mortgage Is Avoided – Does It Go Poof?

DeGiacomo v. Traverse (In re Traverse), 45 B.R. 815 (1st Cir. B.A.P. 2013) – A chapter 7 trustee sought to avoid an unrecorded first mortgage on the debtor’s property and to preserve the mortgage lien for the benefit of the bankruptcy estate.  … Continue reading

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Pre-Bankruptcy Stay Waiver: Who Cares, It’s Not Enforceable Anyway – Right?

In Re 4848, LLC, 490 B.R. 343 (Bankr. E.D. Wis. 2013) – The debtor had entered into a forbearance agreement with its mortgage lender that included a stipulation that the lender would be entitled to relief from the automatic stay if … Continue reading

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Annulling the Automatic Stay: When Is Retroactive Relief Available?

In re Benchmark Capital, Inc., 490 B.R. 566 (Bankr. E.D. Tenn. 2013) – Unbeknownst to a foreclosing creditor, the personal representative of the deceased sole shareholder of a corporation that had been administratively dissolved more than a decade ago filed a … Continue reading

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Credit Bid: “This Is Not Rocket Science”

Fire Eagle L.L.C. v. Bischoff (In re Spillman Dev. Group Ltd.), 710 F.3d 299 (5th Cir. 2013) – A bank made loans to the debtor to finance construction of a golf course.  The loans were secured by senior liens on the … Continue reading

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