Tag Archives: avoidance action

Missing Mortgage Details: At the End of the Day These Mortgages Survived

Posted on June 17, 2014 by BankruptcyRealEstateInsights

In re Crane, 742 F.3d 702 (7th Cir. 2013) – Chapter 7 trustees sought to avoid mortgages in two separate cases using their strong-arm powers. They argued that failure to include the loan maturity date and interest rate in the … Continue reading →

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LLC Membership Transfer: Is Expulsion of a Member a Preferential Transfer?

Posted on June 10, 2014 by BankruptcyRealEstateInsights

Garcia v. Garcia (In re Garcia), 507 B.R. 434 (Bankr. E.D.N.Y. 2014) – Limited liability company (LLC) membership interests owned by a debtor were transferred to other LLC members after they expelled him shortly before his Chapter 11 bankruptcy. The … Continue reading →

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Fraudulent Transfer: How Can A Warehouse Lender Qualify For The Good Faith Exception?

Posted on June 3, 2014 by BankruptcyRealEstateInsights

Gold v. First Tennessee Bank Nat’l Ass’n (In re Taneja), 743 F.3d 423 (4th Cir. 2014) – A liquidating trustee under a plan of reorganization sought to recover 12 payments totaling ~$4 million made by the debtor–mortgage broker to a bank … Continue reading →

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Affiliates and Insiders: Is A Limited Liability Company A Corporation (And Who Cares)?

Posted on May 20, 2014 by BankruptcyRealEstateInsights

Redmond v. CJD & Assocs., LLC (In re Brooke Corp.), 506 B.R. 560 (Bankr. D. Kan. 2014) – A preference defendant sought to amend its answer more than 21 months after the answer was filed to deny its “insider” status. … Continue reading →

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Recording Defects: A Continuing Theme – Trivial Mistakes May Not Be So Trivial

Posted on April 8, 2014 by BankruptcyRealEstateInsights

Gordon v. Wells Fargo Bank, N.A. (In re Knight), 504 B.R. 668 (Bankr. N.D. Ga. 2014) – A chapter 7 trustee sought to avoid a lien on the debtor’s interest in property by exercising his “strong arm” powers as a bona … Continue reading →

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Impact of Lis Pendens: More Questions Than Answers

Posted on March 25, 2014 by BankruptcyRealEstateInsights

Ute Mesa Lot 1, LLC v. First-Citizens Bank & Trust Co. (In re Ute Mesa Lot 1, LLC), 736 F.3d 947 (10th Cir. 2013) – A chapter 11 debtor filed an adversary proceeding against its construction lender seeking to avoid as … Continue reading →

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