Tag Archives: priority of interests

Equitable and Mandatory Subordination: The Disappearing Claim

Posted on July 19, 2013 by BankruptcyRealEstateInsights

NTP Marble, Inc. v. Papadopoulos (In re NTP Marble, Inc.), 491 B.R. 208 (Bankr. E.D. Pa. 2013) – Prior to bankruptcy, a claimant obtained a $4 million judgment, which supposedly represented one-third of the value of the debtor’s business.  The debtor filed … Continue reading →

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Trying to Undo a Settlement: Bad Liens Don’t Make Bad Settlement Payments

Posted on April 9, 2013 by BankruptcyRealEstateInsights

Road & Highway Builders, LLC v. United States, 702 F.3d 1365 (Fed. Cir. 2012) – A secured junior lender who purchased property at a senior lender’s foreclosure sale paid $100,000 to the Internal Revenue Service to induce it to release a … Continue reading →

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Priority Fight: Equipment Vendor Takes On Mortgagee

Posted on March 26, 2013 by BankruptcyRealEstateInsights

MTGLQ Investors, LP v. Bresco Solutions, LLC (In re Marvel Cliff Crossing Apartments, LLC), 484 B.R. 175 (Bankr. S.D. Ohio 2012) – In Marvel Cliff, an equipment vendor sold and installed security cameras and wireless internet access equipment together with related … Continue reading →

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Of Sales and Leases: Can a Bankrupt Landlord Sell Free and Clear of a Tenant’s Interest?

Posted on January 29, 2013 by BankruptcyRealEstateInsights

In re Zota Petroleums, LLC, 42 B.R. 154 (Bankr. E.D. Va. 2012) – Zota addresses the interaction between (1) a sale free and clear of interests under Section 365(f) of the Bankruptcy Code and (2) a tenant’s right to retain possession under … Continue reading →

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Perfecting Manufactured Home Liens: Variations on a Theme

Posted on January 22, 2013 by BankruptcyRealEstateInsights

Kinzalow v. Clayton Bank & Trust (In re Value Investment Properties, LLC), 481 B.R. 403 (Bankr. E.D. Tenn. 2012) – Determining the priority of liens in manufactured homes owned by the debtor raised the standard question of how to classify … Continue reading →

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Mortgagees Beware: Your Dragnet May Have a Hole In It

Posted on January 17, 2013 by BankruptcyRealEstateInsights

Peoples National Bank, N.A. v. Jones, 482 B.R. 257 (S.D. Ill. 2012) – In Jones, the district court reversed the bankruptcy court and held that a standard dragnet clause in a mortgage was not sufficient to secure an advance made by … Continue reading →

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