Tag Archives: automatic stay

Annulling the Automatic Stay: When Is Retroactive Relief Available?

Posted on July 9, 2013 by BankruptcyRealEstateInsights

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 →

Posted in Financing, Real Estate | Tagged , , | Leave a comment

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

Posted on June 21, 2013 by BankruptcyRealEstateInsights

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 →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment

Fraudulently Conveyed Property: Part of the Bankruptcy Estate and Subject to the Automatic Stay (Or Not)?

Posted on June 7, 2013 by BankruptcyRealEstateInsights

Rajala v. Gardner, 709 F.3d 1031 (10th Cir. 2013) – A bankruptcy trustee claimed that $9 million held in escrow was fraudulently transferred property that could be recovered through an avoidance action in bankruptcy, and consequently constituted property of the bankruptcy … Continue reading →

Posted in Uncategorized | Tagged , , , | Leave a comment

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

Posted on June 4, 2013 by BankruptcyRealEstateInsights

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 →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment

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

Posted on May 31, 2013 by BankruptcyRealEstateInsights

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 →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment

Classification of Mortgage Deficiency: The Difference Between a Veto Right and Disenfranchisement

Posted on April 16, 2013 by BankruptcyRealEstateInsights

In re 18 RVC, LLC, 45 B.R. 492 (Bankr. E.D.N.Y. 2012) – A chapter 11 debtor proposed to place a mortgagee’s deficiency claim into a separate class from general unsecured claims so that the deficiency claim could not prevent the unsecured class … Continue reading →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment