Tag Archives: claim determination

Potential Claims: Don’t Forget ILSA (Federal Interstate Land Sales Full Disclosure Act)

Posted on June 11, 2013 by BankruptcyRealEstateInsights

Ross v. R.A. North Development, Inc. (In re Total Realty Management, LLC), 706 F.3d 245 (4th Cir. 2013) – Interstate land sales may be subject to registration and anti-fraud provisions under the Federal Interstate Land Sales Full Disclosure Act (ILSA).  In addition … Continue reading →

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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 →

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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 →

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Proof of Claim: Itemization of Fees, Expenses, and Charges Means Itemization (or Else)

Posted on May 10, 2013 by BankruptcyRealEstateInsights

In re Jimenez, 487 B.R. 543 (Bankr. D. Colo. 2013) – A mortgage lender filed a proof of claim in a chapter 13 bankruptcy claiming total secured debt of $132,945.08, including $14,327.60 in prepetition expenses that were identified as $2,231.93 in late … Continue reading →

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Environmental Claims: The Best Laid Schemes of Mice and Men …

Posted on May 3, 2013 by BankruptcyRealEstateInsights

Route 21 Associates of Belleville, Inc. v. MHC, Inc., 46 B.R. 75 (S.D.N.Y. 2012 – A company (Route 21) bought property from the debtor (MHC) in the mid-1980s that turned out to be contaminated.  After the debtor filed bankruptcy in 2009, … Continue reading →

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Escrow Funds: If You Aren’t Careful, Your Funds May Become Part of a Bankruptcy Estate

Posted on April 30, 2013 by BankruptcyRealEstateInsights

Quinlan v. AFI Services, LLC (In re AFI Services, LLC), 486 B.R. 827 (Bankr. S.D. Tex. 2013) – The debtor (AFIS) entered into a joint venture agreement with a third party (Quinlan) to acquire an apartment complex pursuant to a purchase … Continue reading →

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