Tag Archives: claim determination

Claim Priority: Construction Lien Meets Mortgage – Who Wins?

Posted on January 14, 2014 by BankruptcyRealEstateInsights

ROK Builders, LLC v. 2010-1 SFG Venture LLC (In re Moultonborough Hotel Group, LLC), 726 F.3d 1 (1st Cir. 2013) – After the owner of a newly constructed hotel filed bankruptcy, the assignee of the construction mortgage sought a declaration that … Continue reading →

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

The Ivanhoe Rule: Double Recovery Is Not Permitted, But … (a/k/a Limitation-on-Dividend Approach Meets Reduction-of-Claim Approach)

Posted on January 7, 2014 by BankruptcyRealEstateInsights

In re Del Biaggio, 496 B.R. 600 (Bankr. N.D. Cal. 2012) – The creditors committee objected to proofs of claim filed by a group of unsecured lenders who had received partial payment from a non-debtor co-obligor, arguing that the claims should … Continue reading →

Posted in Financing | Tagged , | Leave a comment

Lease Termination: Say It Like You Mean It (Or Else)

Posted on December 24, 2013 by BankruptcyRealEstateInsights

Franklin Advisors LLC v. Sherwood Mgmt. Corp. (In re Whyco Finishing Technology, LLC), 500 B.R. 517 (Bankr. E.D. Mich. 2013) – A landlord filed an amended proof of claim for ~$700,000 based on a chapter 11 debtor’s breach of a real estate … Continue reading →

Posted in Real Estate | Tagged , | Leave a comment

California Anti-Deficiency Laws: Is Your Trust Obligor a “True” Guarantor Or Merely a Primary Obligor in Disguise?

Posted on December 20, 2013 by BankruptcyRealEstateInsights

In re Brock, 494 B.R. 534 (Bankr. D. Colo. 2013) – Individual chapter 11 debtors objected to a deficiency claim filed by a bank.  They argued that California’s anti-deficiency laws prevented the bank from making a claim against the debtors under their … Continue reading →

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

Construction Claims: Trust Funds Can Go Poof (Round 2)

Posted on November 15, 2013 by BankruptcyRealEstateInsights

Lain v. Universal Drywall LLC (In re Erickson Retirement Communities, LLC), 497 B.R. 504 (Bankr. N.D. Tex. 2013) – A chapter 11 liquidating trustee sought to recover a prepetition payment made by the debtor to a subcontractor on the basis that it … Continue reading →

Posted in Real Estate | Tagged , | Leave a comment

Original Issue Discount Claim: Maybe It’s Allowed, And Maybe It’s Not

Posted on October 15, 2013 by BankruptcyRealEstateInsights

Official Comm. of Unsecured Creditors v. UMB Bank, N.A. (In re Residential Capital, LLC), 495 B.R. 250 (Bankr. S.D. N.Y. 2013) – An unsecured creditors committee brought an action against an indenture trustee and collateral agent (a) seeking to recharacterize a … Continue reading →

Posted in Financing | Tagged , | Leave a comment