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Bankruptcy-RealEstate-Insights.com is published by Vicki R. Harding. She handles commercial transactions with an emphasis on real estate and bankruptcy issues, and has been listed in The Best Lawyers in America in both Real Estate Law and Bankruptcy and Creditor-Debtor Rights Law. The Bankruptcy-RealEstate-Insights.com blog explains the mysteries of bankruptcy law to real estate and acquisition lawyers. Understanding the treatment of real estate issues in bankruptcy and the unique aspects of buying assets out of bankruptcy can be invaluable in counseling clients and developing strategies.Subscribe Via RSS
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Tag Archives: executory contracts
Sale Contract for Mineral Interests: Speak Early and Often, Or Forever Hold Your Peace
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
Bankruptcy Sales: Sometimes the Mortgagee Wins
In re CPJFK, LLC, 496 B.R. 290 (Bankr. E.D.N.Y. 2011) – A chapter 11 trustee sought court approval of a Section 363 sale of the debtor’s hotel to its secured creditor for a credit bid of ~$13.8 million. The debtor raised … Continue reading
Bankruptcy Sales: Acquiring Related Contracts (Whether the Debtor Cooperates or Not)
Popgrip, LLC v. Brown’s Chicken & Pasta, Inc. (In re Brown’s Chicken & Pasta, Inc.), 503 B.R. 86 (Bankr. N.D. Ill. 2013) – A debtor who was a restaurant franchisor sold substantially all of its assets in a bankruptcy auction. The … Continue reading
Letter of Credit: Not A Financial Accommodation, Executory Contract Or Even A Contract?
Rafool v. Evans, 497 B.R. 312 (C.D. Ill. 2013) – A chapter 7 trustee brought a legal malpractice case against a debtor’s prepetition attorneys for failing to advise the debtor to draw on letters of credit prior to filing bankruptcy. The case turned … Continue reading
Leases: The Debtor Tenant’s Right To “Assume” and To “Assign” Does Not Mean To “Assume and Assign”
In re Eastman Kodak Co., 495 B.R. 618 (Bankr. S.D.N.Y. 2013) – The debtor assumed a ground lease prior to the deadline for assumption or rejection of non-residential real property leases. It later sought to assign the lease in connection with … Continue reading
Environmental Claims: The Best Laid Schemes of Mice and Men …
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