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Foreclosure › Creditors

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Jones Day

New York Bankruptcy Court Adopts "Realistic Possibility" Standard for Free and Clear Sales Under 11 U.S.C § 363(f)(5)

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Section 363(f)(5) of the Bankruptcy Code allows a bankruptcy trustee to sell estate property free and clear of any competing interest in the property (such as a lien or other security interest) if the interest holder "could...more

Cadwalader, Wickersham & Taft LLP

I’m Still Standing – Yeah, Yeah, Yeah: Wilmington Savings Fund Society v. Tamisi

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In Wilmington Savings Fund Society v. Tamisi, the U.S. District Court for the Eastern District of New York upheld a bankruptcy court’s ruling that Wilmington lacked the necessary standing to enforce a mortgage lien, thereby...more

Shipman & Goodwin LLP

Strategic Alternatives: Mastering Deeds-in-Lieu, Friendly Foreclosures and Navigating Bankruptcy Scenarios

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While traditional enforcement often requires judicial intervention, alternative resolution strategies can deliver superior outcomes with reduced costs, compressed timelines, and diminished reputational impact. Understanding...more

Shipman & Goodwin LLP

Workouts That Work: Strategic Alternatives to Foreclosure

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Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more

Proskauer Rose LLP

Private Credit Restructuring: Strict Foreclosure Spotlight

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Chapter 11 is expensive and not always the right tool, particularly for a restructuring of a company with a broken balance sheet, as compared to a business with a broken business model. We have seen a significant uptick in...more

Ward and Smith, P.A.

Entitled to Stay Relief? Prove it.

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For example, you make a commercial real estate loan and record your deed of trust. The borrower pays you for a time but then defaults.  You tried loan forbearance and modification, but it was unsuccessful. The borrower falls...more

DLA Piper

Ninth Circuit Authorizes Trustees to Avoid Intentional Fraudulent Transfers Without Need to Demonstrate Creditor Harm

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In a case of first impression in the Ninth Circuit, the US Court of Appeals recently handed bankruptcy trustees a significant power by ruling in The Lovering Tubbs Trust v. Hoffman (In re O’Gorman) that a trustee can avoid...more

McGlinchey Stafford

Litigation Byte (July Edition)

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The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

McGlinchey Stafford

Litigation Byte (June Edition)

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The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

McGlinchey Stafford

Who Bears What Burden in Class Settlement Objections - McGlinchey Commercial Law Bulletin - December 4 2023

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Fraudulent Transfer- Leonard Holdings, Inc. v. Rohaley, 11th District Lake County, 2023-Ohio-4096- In this appeal, the Eleventh Appellate District affirmed the trial court’s decision to grant the defendant’s motion for...more

Husch Blackwell LLP

Alternatives to Bankruptcy for Cannabis Companies (Part 1)

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The problems facing the cannabis industry arising from its ongoing status as a federally illegal enterprise are numerous and well documented: 280E tax burdens, limited access to banking, exclusion from capital markets, uneven...more

Ward and Smith, P.A.

In Foreclosure, Your Attorney Can Be Counsel or Trustee, But Not Both

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Five years ago, the General Assembly amended the foreclosure statute to prohibit an attorney who serves as trustee or substitute trustee from representing the noteholder or the borrower during a foreclosure proceeding.  ...more

Fox Rothschild LLP

Creditor Pays for Violating Stay in Mastic Bay

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A recent Second Circuit opinion sets a bright-line rule: if the Debtor is named as a defendant in a pre-bankruptcy lawsuit, the automatic stay applies to halt further proceedings. Bayview Loan Servicing LLC v. Fogarty (In re...more

Morrison & Foerster LLP - Left Coast Appeals

This Week at the Ninth: Schedules and Informants

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This week, the Ninth Circuit explains the ins-and-outs of property abandonment under the Bankruptcy Code, and explores the government’s privilege to withhold the identity of informants in discovery. IN RE STEVENS - The...more

McGlinchey Stafford

Can Partial Performance Prevent The Statute Of Frauds From Barring An Oral Agreement?- The Bullet Point: A Commercial Law Bulletin

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Ohio- Statute of Frauds- TLOA Acquisitions, L.L.C. v. Unknown Heirs, 8th Dist. Cuyahoga No. 110002, 2021-Ohio-3678- In this appeal, the Eighth Appellate District affirmed the trial court’s decision, agreeing that the...more

BCLP

Whoomp! (Where’d It Go?): Disappearing Assets in Bankruptcy

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In a recent post, I discussed three situations in which a debtor in bankruptcy might find itself dispossessed of assets that appeared to be property of the bankruptcy estate. This article expands on that general idea and...more

Fox Rothschild LLP

Secured Creditors’ State Court Rights Affected By Proof Of Claim Choices

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Secured creditors have many choices when it comes to how to file a proof of claim in bankruptcies. Those choices should be weighed carefully, however, because certain choices can have important unexpected consequences that...more

McGlinchey Stafford

The Bullet Point: Ohio Commercial Law Bulletin Have My Trade Secrets Been Misappropriated? Volume 5, Issue 2

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Unconsionability Defense to Arbitration- Sebold v. Latina Design Build Group, L.L.C., 8th Dist. Cuyahoga No. 109362, 2021-Ohio-124 In this appeal, the Eighth Appellate District affirmed the trial court’s decision agreeing...more

Winstead PC

Bankruptcy Court Discussed The Fiduciary Duties Owed To A Limited Liability Company And Its Creditors By Its Manager

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In In re Silver State Holdings, in a bankruptcy proceeding a trustee of a limited liability company sued its former manager for breach of fiduciary duty and another entity for conspiracy to breach fiduciary duty arising out...more

Bradley Arant Boult Cummings LLP

Covid-19 Mortgage Servicing Trends Report - Update

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Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. This report is intended to show industry trends, not facts, and does not necessarily...more

Bradley Arant Boult Cummings LLP

Update: COVID-19 Mortgage Servicing Trends Report

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Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables... The polling results included in this report are the anonymous responses of...more

Moritt Hock & Hamroff LLP

The Courts’ View of UCC Article 9 Sales In The COVID-19 Environment Is Clearly Changing

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While the world may be in a state of semi-paralysis waiting for a COVID-19 vaccine, the legal environment involving creditors’ rights has changed significantly during the past several months. In the beginning of the...more

Winthrop & Weinstine, P.A.

Minnesota Real Estate Foreclosures: 21 Common Questions & Answers

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Our Creditors' Remedies attorneys answer the most asked questions from their clients. 1. What happens at a real estate foreclosure sale? The sheriff of the county where the real estate is located reads the published...more

Patton Sullivan Brodehl LLP

Cotenant Owner vs. Junior Creditor — Battle for Sale Proceeds from Senior Creditor Foreclosure

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After a foreclosure sale by a senior creditor, California’s Civil Code section 2924k governs how the sale proceeds are applied in the following order of priority...more

Allen Matkins

Corporate Suspension No Bar To Creditor's Suit

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Wanke Industrial, Commercial, Residential, Inc. v. AV Builder Corp., 2020 Cal. App. LEXIS 134, involved a judgment creditor's attempt to enforce its judgment against its judgment debtor's debtor. On appeal, the debtor's...more

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