United States v. Olayer (In re Olayer), 577 B.R. 464 (Bankr. W.D. Pa. 2017) –
After a debtor filed his fifth chapter 12 petition in 21 years, the Department of Agriculture Farm Service Agency (FSA) filed a motion for relief from the automatic stay so that it could proceed with a foreclosure sale of the debtor’s farm. Continue reading
Wilmington Savings Fund Society, FSB v. Garza (In re Garza), 577 B.R. 258 (Bankr. S.D. Tex. 2017) –
An assignee of debt secured by a deed of trust sought a determination of the validity and extent of its lien. The chapter 13 debtors claimed that the lien was lost because the assignee failed to foreclose in a timely manner after the debt was accelerated. The assignee moved for summary judgment. Continue reading
Kane v. Coulson (In re Price), 575 B.R. 461 (Bankr. D. Haw. 2017) –
A chapter 7 trustee sought to recover as a preference the transfer of proceeds from a sale of the debtor’s real estate under a profit sharing agreement. The matter involved a third party’s contingent rights to a portion of the profits from a resale of the property and the effect of an escrow of the sale proceeds. Continue reading
Gill v. Kirresh (In re Gill), 574 B.R. 709 (9th Cir. BAP 2017) –
A debtor moved to compel a chapter 7 trustee to abandon residential property on the basis that it was of inconsequential value to the bankruptcy estate. The bankruptcy court denied the motion, and the debtor appealed to the Bankruptcy Appellate Panel (BAP). Continue reading
Squire Court Partners L.P. v. Credit Enhanced Partners LP Series J (In re Squire Court Partners L.P.), 574 B.R. 701 (E.D. Ark. 2017) –
A general partner filed a bankruptcy petition on behalf of a limited partnership without consent of the limited partners. The limited partners objected and moved to dismiss. The bankruptcy court granted the motion on the grounds that the general partner did not have authority to file, and various parties appealed to the district court. Continue reading
In re Delaware Sports Complex, LLC, 573 B.R. 543 (Bankr. D. Del. 2017) –
The debtor, a limited liability company, purportedly entered into a ground lease before it was formed. The bankruptcy court considered the validity of the lease, whether the lease was properly terminated due to uncured defaults, and the effect of an agreement to subordinate the lessor’s interests to the interests of debtor’s lender. Continue reading
Bankruptcy-RealEstate-Insights 