Tag Archives: financing

Filing on the Eve of Foreclosure: Sometimes It Works, and Sometimes It Doesn’t

In re LJBV Ltd., 544 B.R. 401 (Bankr. N.D. Ill 2016) – The debtor filed a Chapter 11 case immediately after a receiver was appointed in a state foreclosure proceeding. The mortgagee filed a motion to dismiss the bankruptcy case … Continue reading

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Property Surrender Round 2: Can a Mortgagee Really Be Forced to Take Title?

In re Williams, 542 B.R. 514 (Bankr. D. Kan. 2015) – A chapter 13 debtor obtained confirmation of a plan which provided for surrender of his residential property to a secured creditor. The debtor later moved to amend the plan … Continue reading

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Rents: The Battle Over Use of Rents to Pay Professionals

Wolf v. Firstmerit Bank, N.A. (In re Wolf), 535 B.R. 772 (N.D. Ill. 2015) – Chapter 11 debtors filed a motion to allow them to use rents to pay their professional fees over the objection of a bank that held … Continue reading

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Foreclosure Effects: Beware of State Laws

In re Anthony, 534 B. R. 834 (Bankr. M.D. Fla. 2015) – A debtor objected to a mortgage debt on the basis that the mortgage lien was invalid due to the mortgagee’s delay in foreclosing. The court held that the … Continue reading

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Default Interest: Do Not Take Enforceability for Granted

Default Interest: Do Not Take Enforceability for Granted Bowles Sub Parcel A, LLC v. Wells Fargo Bank, N.A. (In re Bowles Sub Parcel A, LLC), 790 F.3d 897 (8th Cir. 2015) – The chapter 11 debtors obtained prepetition CMBS loans … Continue reading

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Loan Assignment: Surprise – A Successor Lender May Step into Only One Shoe

New Products Corp. v. Tibble (In Re Modern Plastics Corp.), 534 B.R. 723 (Bankr. W.D. Mich. 2015) – The assignee of a mortgage lender sued a former Chapter 7 trustee and his surety for claims based on breach of fiduciary duty. … Continue reading

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