Tag Archives: preference

Impact of Lis Pendens: More Questions Than Answers

Posted on March 25, 2014 by BankruptcyRealEstateInsights

Ute Mesa Lot 1, LLC v. First-Citizens Bank & Trust Co. (In re Ute Mesa Lot 1, LLC), 736 F.3d 947 (10th Cir. 2013) – A chapter 11 debtor filed an adversary proceeding against its construction lender seeking to avoid as … 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

LLC Member: Is a Pre-Bankruptcy Expulsion Vulnerable to Attack?

Posted on November 26, 2013 by BankruptcyRealEstateInsights

Garcia v. Garcia (In re Garcia), 494 B.R. 799 (Bankr. E.D. N.Y. 2013) – Prior to bankruptcy, a chapter 11 debtor who had been a member of two limited liability companies was expelled by the other members on the basis that he … Continue reading →

Posted in Uncategorized | Tagged , , , | Leave a comment

Financial Institution Payments: When Is A Preference Not A Preference?

Posted on October 8, 2013 by BankruptcyRealEstateInsights

Official Comm. of Unsecured Creditors of Quebecor World (USA) Inc. v. American United Life Ins. Co. (In re Quebecor World (USA) Inc.), 719 F.3d 94 (2d Cir. 2013) – Shortly before filing bankruptcy, the debtor made a ~$376 million payment to a … Continue reading →

Posted in Financing | Tagged , , | Leave a comment

Foreclosure Sale As a Preference: “Strong Arm” Powers Strike Again

Posted on August 2, 2013 by BankruptcyRealEstateInsights

Nguyen v. Wells Fargo Home Mortgage (In re Nguyen), 490 B.R. 230 (Bankr. S.D. Tex. 2013) – An individual debtor in a chapter 7 bankruptcy brought an adversary proceeding seeking to recover from a mortgagee for negligent misrepresentation and to set aside … Continue reading →

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

Construction Claims: Trust Funds Can Go Poof

Posted on January 24, 2013 by BankruptcyRealEstateInsights

McDonald v. Little Limestone, Inc. (In re Powers Lake Construction Co.), 482 B.R. 803 (Bankr. E.D. Wis. 2012) – A typical trust fund statute provides that payments to a construction contractor are treated as funds held in trust until its … Continue reading →

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