Tag Archives: bankruptcy procedures

Reverse Mortgages: Can A Reverse Mortgage Loan Be Reinstated?

Reverse Mortgage Solutions, Inc. v. Nunez, 598 B.R. 876 (S.D. Fla. 2019) – A debtor filed a chapter 13 plan that proposed to cure defaults under a reverse mortgage by paying unpaid taxes and insurance. The mortgagee objected, arguing that because … Continue reading

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

Bankruptcy Sales and Mortgage Boo-Boos: Timing Can Make All the Difference in the World

Trinity 83 Dev., LLC v. Colfin Midwest Funding, LLC, 917 F.3d 599 (7th Cir. 2019) – A Chapter 11 debtor sought to avoid the cancellation of a mortgage satisfaction as a fraudulent conveyance, contending that the mortgage satisfaction extinguished the debt … Continue reading

Posted in Bankruptcy Sales, Real Estate | Tagged , | Leave a comment

Mortgagee Stay Relief: Make Sure You Know the Scope of the Relief or Else

BMO Harris Bank, N.A. v. Anderson (In re Anderson), 917 F.3d 566 (7th Cir. 2019) – After a mortgagee obtained relief from the automatic stay so that it could foreclose its mortgage in state court, it returned to the bankruptcy court … Continue reading

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

TICs: Maybe the Protection of Bankruptcy Will Be the Available If Needed, and Maybe Not

In re Fairfield TIC, LLC, 594 B.R. 852 (Bankr. E.D. Va. 2018) – The debtor and its co-owners bought a shopping center as tenants-in-common. After the debtor filed bankruptcy, the noteholder secured by a mortgage on the property and a receiver … Continue reading

Posted in Real Estate | Tagged , | Leave a comment

Joint Property Sales: To Successfully Oppose a Sale, You Have to Make Your Case

Desmond v. Francis (In re Francis), 597 B.R. 195 (Bankr. D. Mass. 2019) – A chapter 7 trustee commenced an adversary proceeding seeking authority to sell property that the debtor co-owned with his wife as tenants by the entirety free of … Continue reading

Posted in Bankruptcy Sales, Real Estate | Tagged , | Leave a comment

Reopening a Case: Who Can Upset the Apple Cart?

Plant Materials, LLC v. Alliance Consulting Group, LLC, 596 B.R. 851 (S.D. Miss. 2019) – A contractor that installed a sand screen at a drying facility previously owned by the debtor that was sold “free and clear” in its bankruptcy filed … Continue reading

Posted in Bankruptcy Sales, Real Estate | Tagged | Leave a comment

Order in Aid of Sale of a Business: Can the Court Enjoin a Debtor from Competing with the Purchaser?

Butler v. Wojtkun (In re Wojtkun), 596 B.R. 74 (D. Mass. 2019) – To facilitate the sale of a debtor’s dental practice, a chapter 7 trustee sought issuance of a noncompetition injunction against the debtor. The bankruptcy court declined to issue … Continue reading

Posted in Bankruptcy Sales | Tagged | Leave a comment