Tag Archives: avoidance action

Sale Contract for Mineral Interests: Speak Early and Often, Or Forever Hold Your Peace

Posted on March 14, 2014 by BankruptcyRealEstateInsights

Davis v. Dunmore Properties, Inc. (In re Davis), 503 B.R. 609 (Bankr. M.D. Pa. 2013) – After confirmation of their chapter 13 plan, two chapter 13 debtors filed motions for summary judgment seeking to reject a contract for sale of their mineral rights … Continue reading →

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Bankruptcy Sales: “Free and Clear”… Or Not

Posted on February 21, 2014 by BankruptcyRealEstateInsights

In re Hassen Imports P’ship, 502 B.R. 851 (C.D. Cal. 2013) – A chapter 7 trustee sought to sell real estate “free and clear” of certain prepetition contracts and covenants between the debtor and a city, as successor of a redevelopment agency.  … Continue reading →

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Delinquent Property Tax Sales (Again): “Reasonably Equivalent Value” – No Way, No How

Posted on February 18, 2014 by BankruptcyRealEstateInsights

County of Clinton v. Warehouse at Van Buren Street, Inc., 492 B.R. 278 (N.D.N.Y. 2013) – A chapter 11 debtor sought to recover real estate that was transferred prepetition to the county following the debtor’s default in a property tax foreclosure proceeding.  … Continue reading →

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Delinquent Property Taxes: Beware the Risk of Tax Deeds

Posted on February 4, 2014 by BankruptcyRealEstateInsights

Smith v. SIPI, LLC (In re Smith), 501 B.R. 843 (Bankr. N.D. Ill. 2013) – Chapter 13 debtors (the Smiths) lost their residential property in a pre-petition delinquent property tax sale.  The tax sale purchaser (SIPI) resold the property to a … Continue reading →

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Avoidance Recoveries: Who Can Be Sued And When?

Posted on January 31, 2014 by BankruptcyRealEstateInsights

Securities Investor Protection Corp. v. Bernard L. Madoff Inv. Securities LLC, 501 B.R. 26 (S.D.N.Y. 2013) – The debtor (Madoff Securities) made payments to “feeder funds” that provided its funding, and the feeder funds in turn made payments to their investors, … Continue reading →

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Unrecorded Mortgage Assignment: If You Snooze, You Can Lose

Posted on January 24, 2014 by BankruptcyRealEstateInsights

In re First Mortgage Fund, Inc., 498 B.R. 180 (E.D. Mich. 2013) – A debtor (First Mortgage), which was the mortgagee of record, foreclosed a mortgage and obtained title to the foreclosed property notwithstanding that it had assigned the note and … Continue reading →

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