Tag Archives: financing

Mortgagee Relief: “Cause” Is In the Eye of the Beholder – Round 2

Posted on January 3, 2014 by BankruptcyRealEstateInsights

In re GEL, LLC, 495 B.R. 240 (Bankr. E.D. N.Y. 2012) – A mortgagee moved to dismiss two Chapter 11 bankruptcies that were filed by its mortgagors to prevent a scheduled foreclosure sale.  It also sought relief relating to the automatic … Continue reading →

Posted in Financing, Real Estate | Tagged , , | Leave a comment

Options for an Underwater Mortgagee: The Mysteries of an 1111(b) Election

Posted on December 31, 2013 by BankruptcyRealEstateInsights

In re River Canyon Real Estate Investments, LLC, 495 B.R. 526 (Bankr. D. Colo. 2013) – A chapter 11 debtor’s plan of reorganization placed two secured creditors in the same class.  (No one objected to this classification.) One of the creditors attempted … Continue reading →

Posted in Financing, Real Estate | Tagged , | Leave a comment

Mortgagee Relief From the Automatic Stay: “Cause” Is In the Eye of the Beholder – Namely the Court

Posted on December 27, 2013 by BankruptcyRealEstateInsights

In re Doug Wilson Ins. Agency, Inc., 495 B.R. 428 (Bankr. E.D. Ark. 2013) – A debtor that owned several properties filed a chapter 11 bankruptcy proceeding on April 1st.  A bank that had mortgages on two of the properties moved for relief … Continue reading →

Posted in Financing, Real Estate | Tagged , , | Leave a comment

California Anti-Deficiency Laws: Is Your Trust Obligor a “True” Guarantor Or Merely a Primary Obligor in Disguise?

Posted on December 20, 2013 by BankruptcyRealEstateInsights

In re Brock, 494 B.R. 534 (Bankr. D. Colo. 2013) – Individual chapter 11 debtors objected to a deficiency claim filed by a bank.  They argued that California’s anti-deficiency laws prevented the bank from making a claim against the debtors under their … Continue reading →

Posted in Financing, Real Estate | Tagged , , | Leave a comment

Preferences: Surprise – Being Fully Secured May Not Be A Complete Defense

Posted on December 10, 2013 by BankruptcyRealEstateInsights

Gladstone v. Bank of America, N.A. (In re Vassau), 499 B.R. 864 (Bankr. S.D. Cal. 2013) – A chapter 7 trustee sought to avoid payments made to a fully secured senior mortgagee within 90 days prior to bankruptcy as preferential to an … Continue reading →

Posted in Financing, Real Estate | Tagged , , , | Leave a comment

Foreclosure Procedures: Dot Those i’s and Cross Those t’s… Or Else

Posted on December 6, 2013 by BankruptcyRealEstateInsights

In re AMRCO, Inc., 496 B.R. 442 (Bankr. W.D. Tex. 2013) – A mortgagee requested a comfort order from the bankruptcy court to confirm that the automatic stay did not apply to property that it had purchased at a non-judicial foreclosure … Continue reading →

Posted in Financing, Real Estate | Tagged , | Leave a comment