Category Archives: Real Estate

Real Estate

Artificial Impairment of Claims: Can The Tail Wag The Dog in Confirming a Plan?

Western Real Estate Equities, L.L.C. v. Village at Camp Bowie I, L.P. (In re Village at Camp Bowie I, L.P.), 710 F.3d 239 (5th Cir. 2013) – To confirm the debtor’s proposed plan of reorganization over the mortgage lender’s objections, the … Continue reading

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Special Purpose Entities: What Recourse Does A Lender Have When SPEs Are Consolidated Pre-Bankruptcy? … Maybe None

Fed. Nat’l Mortgage Ass’n v. Bruckner, 489 B.R. 93 (E.D. Wis. 2012) – The debtor (Buckner) owned 36 rental projects (containing ~ 1300 rental units) through various limited liability companies.  The LLCs transferred all of the properties to Buckner a few … Continue reading

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Prime-Plus Cramdown Rate: You Can Forget Market Reality

Wells Fargo Bank Nat’l Ass’n v. Texas Grand Prairie Hotel Realty, L.L.C. (In re Texas Grand Prairie Hotel Realty, L.L.C.), 710 F.3d (5th Cir. 2013) – In this case the debtors proposed a plan of reorganization for four hotel properties.  The … Continue reading

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Potential Claims: Don’t Forget ILSA (Federal Interstate Land Sales Full Disclosure Act)

Ross v. R.A. North Development, Inc. (In re Total Realty Management, LLC), 706 F.3d 245 (4th Cir. 2013) – Interstate land sales may be subject to registration and anti-fraud provisions under the Federal Interstate Land Sales Full Disclosure Act (ILSA).  In addition … Continue reading

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What Comes After Stay Relief: The Disappearing Deficiency Claim (Round 2)

Pierce v. Carson (In re Rader), 488 B.R. 406 (9th Cir. BAP 2013) – A chapter 7 trustee objected to the unsecured deficiency claim of a mortgage lender that remained after the lender obtained relief from the automatic stay and proceeded … Continue reading

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What Comes After Stay Relief: The Disappearing Deficiency Claim (Round 1)

In re Wright, 486 B.R. 491 (Bankr. D. Ariz. 2012) – In Wright, a mortgage lender obtained relief from the automatic stay in a chapter 11 bankruptcy and proceeded with a state non-judicial foreclose sale on two properties.  However, it did … Continue reading

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