Tag Archives: financing

UCC Collateral Description: Can You Look Beyond the Four Corners of the Financing Statement?

Posted on March 11, 2020 by BankruptcyRealEstateInsights

First Midwest Bank v. Reinbold (In re I80 Equipment, LLC), 938 F.3d 866 (7th Cir. 2019) – In connection with a lawsuit to recover a loan secured by substantially all of a debtor’s assets, a lender sought a declaration that its … Continue reading →

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Real Estate Purchase Agreement: Contract for Deed or Mortgage – It Makes a Difference

Posted on February 26, 2020 by BankruptcyRealEstateInsights

In re Edwards, 606 B.R. 356 (Bankr. E.D. Ark. 2019) – A chapter 13 debtor proposed a plan that treated a contract for deed as a secured claim. The seller objected, contending that the contract was terminated prepetition so that the … Continue reading →

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Anti-Assignment Provisions: Restrictions on Transfer of Promissory Notes May Be More Enforceable Than You Might Expect

Posted on February 12, 2020 by BankruptcyRealEstateInsights

In re Woodbridge Group of Companies, LLC, 608 B.R. 201 (D. Del. 2019) – The debtor objected to a creditor’s proof of claim on the grounds that transfer of the claim to the creditor was unenforceable against the debtor because it … Continue reading →

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Mortgage Legal Descriptions: To Avoid Litigation, Get It Right in the First Place

Posted on January 15, 2020 by BankruptcyRealEstateInsights

Ivy v. U.S. Bank N.A. as Legal Title Trustee for Truman 2016 SC6 Title Trust (In re Ivy), 604 B.R. 540 (Bankr. W.D. Ark. 2019) – A chapter 7 debtor brought an adversary proceeding against a foreclosing lender seeking a bankruptcy … Continue reading →

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Continuing Perfection: Does a Mortgage Lapse During Bankruptcy If State Law Would Otherwise Require Steps to Maintain Perfection?

Posted on November 27, 2019 by BankruptcyRealEstateInsights

River Parishes Dirt & Gravel, LLC v. BankPlus (In re Willow Bend Ventures, LLC), 603 B.R. 293 (Bankr. E.D. La. 2019) – A lender’s secured claim was challenged on the basis that postpetition it failed to take steps required to maintain … Continue reading →

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Mortgages in Foreclosure: Strategies Can Get Complicated, Particularly When Bankruptcy Is on the Horizon

Posted on November 20, 2019 by BankruptcyRealEstateInsights

In re Battershell, 603 B.R. 86 (Bankr. D. N.M. 2019) – A chapter 13 debtor objected to a proof of claim filed by a junior mortgagee. The claim included an advance used to pay off a senior mortgage that was in … Continue reading →

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