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Property Owners › Bankruptcy Code

Eversheds Sutherland (US) LLP

When “preserving value” isn’t enough: what Broadway Realty teaches about lender rights in bankruptcy

Eversheds Sutherland (US) LLP on

A recent decision from the US Bankruptcy Court for the Southern District of New York has drawn a sharp line for real estate owners seeking to use lender cash in bankruptcy.1 In denying Broadway Realty’s motion to access...more

Ervin Cohen & Jessup LLP

The Exception to the Barton Doctrine Contained in 28 U.S.C. §959(a) Does Not Apply to State Court Receivers

Ervin Cohen & Jessup LLP on

Q: I am a state court receiver for an LLC that owns a number of apartment buildings, which I am now managing. I have been sued by some tenants and a tenant group. They have not obtained receivership court permission to sue...more

Rivkin Radler LLP

Supreme Court Settles Debate on Passive Retention of Property

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For some time, bankruptcy courts wrestled over whether creditors violated the Bankruptcy Code’s automatic stay provision under 11 U.S.C. § 362(a)(3) by creditors’ passive retention of a debtor’s property once a debtor files...more

Snell & Wilmer

Married Couple’s Acquisition of Title as Joint Tenants Does Not Rebut the Presumption of Community Property

Snell & Wilmer on

In re Brace, 470 P.3d 15 (Cal. 2020), a California married couple acquired real property with community funds, and took title as “husband and wife as joint tenants.” When the husband filed a chapter 7 petition in bankruptcy,...more

Patterson Belknap Webb & Tyler LLP

The Best Laid Plans: How a Proposed Sale of NYC Real Estate Under Section 363 of the Bankruptcy Code Went Awry

Patterson Belknap Webb & Tyler LLP on

There are several ways in which property owners can advantageously use the Bankruptcy Code to effectuate strategic dispositions of assets. But the bankruptcy process can be fraught with uncertainty that can upend the best...more

Patterson Belknap Webb & Tyler LLP

Deal With It: Section 1141(c) May Apply to Property not Identified in a Disclosure Statement

Patterson Belknap Webb & Tyler LLP on

Under Section 1141(c) of the Bankruptcy Code, property “dealt with” in a confirmed plan is free and clear of the claims and interests of creditors, provided the holder of the claim or interest participated in the bankruptcy...more

Patterson Belknap Webb & Tyler LLP

“Free and Clear” Means You’re out of Here?

Patterson Belknap Webb & Tyler LLP on

Section 365(h) of the Bankruptcy Code provides considerable protection to a tenant in the event of a bankruptcy filing by its landlord. Despite rejection of its lease, the tenant can elect to retain its rights, including the...more

Greenberg Glusker LLP

The Ninth Circuit Loosens the Cap on Landlord Damages in In re Kupfer

Greenberg Glusker LLP on

Any property owner which has experienced the bankruptcy of a tenant is doubtless keenly aware of the limitation on damages which the Bankruptcy Code imposes on the landlord. A new decision by the Ninth Circuit bolsters the...more

Baker Donelson

Florida Court Rules Borrowers Who Surrender Property in Bankruptcy Can't Later Take it Back

Baker Donelson on

Thanks to several recent United States Bankruptcy Court decisions in Florida, mortgage servicers should now expect borrowers who surrender their real property in bankruptcy to not contest foreclosure later. Since the...more

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