Tag Archives: financing

Bankruptcy Filing Veto: Better Follow the Playbook

In re Lake Michigan Beach Pottawattamie Resort LLC, 547 B.R. 899 (Bankr. N.D. Ill. 2016) – A mortgage lender moved to dismiss a chapter 11 bankruptcy case filed on the eve of foreclosure without the lender’s consent (in its role … Continue reading

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Default Interest: There’s Prepetition Interest and Postconfirmation Plan Interest – Don’t Forget About What Happens in the Middle

Wells Fargo Bank, N.A. v. Beltway One Development Group, LLC (In re Beltway One Development Group, LLC), 547 B.R. 819 (9th Cir. BAP 2016) – A creditor objected to confirmation of a chapter 11 plan of reorganization because it did … Continue reading

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When Is Involuntary Vesting Incompatible with Surrender? – When a Court Says So

In re Tosi, 546 B.R. 487 (Bankr. D. Mass 2016) – A mortgagee objected to a proposed chapter 13 plan which provided that the debtor’s title to the mortgaged property would automatically vest in the mortgagee if the debtor and … Continue reading

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Bond Financing Liens: Who’s on First?

Zucker v Wesbanco Bank, Inc. (In re Fairmont General Hospital, Inc.), 546 B.R. 659 (Bankr. N.D. W.Va. 2016) – A chapter 11 liquidating trustee and a bond trustee brought an adversary proceeding against the Marion County Commission (Commission) as the … Continue reading

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Mortgage Assignments: Assignment of a Mortgage Without the Underlying Note is A Nullity

In re Cornerstone Homes, Inc., 544 B.R. 492 (Bankr. W.D. N.Y. 2015) – A chapter 11 trustee sought a judgment that a series of mortgages were unenforceable as a matter of law because the written assignments transferring them to the … Continue reading

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Mortgage Priority: And What About Equitable Subrogation?

Stambaugh v. PNC Bank, N.A. (In re Stambaugh), 532 B.R. 572 (Bankr. M.D. Pa. 2015) – A chapter 13 debtor sought to establish the priority of certain mortgages, and the bank that held all of the mortgages attempted to reorder the … Continue reading

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