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Real Estate Development Commercial Bankruptcy

Bennett Jones LLP

The Year Ahead: Five Trends in Distressed Real Estate in 2025

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The Canadian residential development industry is facing an unprecedented wave of financial distress. Debtor-initiated real property (including rental and leasing) insolvencies spiked in 2024, rising by 42.5 percent...more

BCLP

Key Lessons from the Collapse of ISG

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The recent collapse of Interior Services Group (ISG), which filed for administration on 20 September 2024, has alarmed the industry. EY has been tasked with managing outstanding projects that Glenigan suggests total over £2.5...more

Herbert Smith Freehills Kramer

New York’s Highest Court Finds That Federal Bankruptcy Law Does Not Preempt State Law Tortious Interference Claims in Important...

On Nov. 24, 2020, the State of New York Court of Appeals ruled in favor of Kramer Levin client Sutton 58 Associates LLC (Sutton), an affiliate of Gamma Real Estate, in its $100 million lawsuit brought against real estate...more

Goulston & Storrs PC

Five Takeaways from the BBA Webinar on the State of Retail and Hospitality During COVID

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On November 13th, the Boston Bar Association hosted Uncharted Territory: Challenges Facing Retail, Hospitality Sectors and their Landlords. The live webinar featured Richard Heller, Senior Vice President and General Counsel...more

Robins Kaplan LLP

Financial Daily Dose 6.18.2020 | Top Story: SEC Intervenes to Halt Bankrupt Hertz’s Planned Stock Sales

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Some rare last-minute SEC intervention forced Hertz to suspend its planned sale of up to $500 million in shares of the bankrupt car-rental company while the agency undertakes a closer review of the offering....more

Poyner Spruill LLP

Fourth Circuit Approves Partial Dirt for Debt Plan

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Do you want to own that rural timberland you financed a few years back? Well, what if I told you that not only are you taking ownership, but you’re taking it in exchange for a credit of three times its appraised value? The...more

Troutman Pepper Locke

In Dismissing Homebuyer’s Defective Construction Suit Against Contractor for Lack of Privity, Supreme Court of Utah Cautions...

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Tomlinson v. Douglas Knight Constr., Inc., 2017 Utah Lexis 132 (August 29, 2017) - This case arises out of the construction of a residential property. Lot 84 Deer Crossing (“Lot 84”) purchased the property and contracted...more

Troutman Pepper Locke

Appellate Court Holds That The New Mexico Unfair Practices Act Applies To A “Services” Contract For The Construction Of A Home,...

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Fogelson v. Bozzone, 2017 N.M. App. LEXIS 58 (July 26, 2017) - In May of 2008, Wallen Development, LLC (“Wallen”) entered into a written agreement to construct and sell a new home to David and Corinne Fogelson...more

Herbert Smith Freehills Kramer

Ninth Circuit Joins “Minority” of Courts That Allow Property to be Sold in Bankruptcy Free and Clear of Leaseholds

The Ninth Circuit recently held, in Pinnacle Rest. at Big Sky, LLC v. CH SP Acquisitions, LLC (In re Spanish Peaks Holdings II, LLC), No. 15-35572, 2017 U.S. App. LEXIS 12526, 2017 WL 2979660 (9th Cir. July 13, 2017), that a...more

Harris Beach Murtha PLLC

Construction Group News: Your corporate real estate is held by a separate LLC, so it's protected, right? Maybe Not...

Your business real estate may not be safe from a separate, but related, company’s bankruptcy. In a shot across the bow to the Massachusetts construction community, a Massachusetts bankruptcy court has determined that in...more

Robinson+Cole Construction Law Zone

Recipe for a Project Bankruptcy: The Owner in Bankruptcy Through The Lens of the Construction Manager

Industry leaders agree that the economy has turned the corner and private construction projects are on the uptick.  Banks have eased lending requirements and there is more private equity money on the streets.  Inexperienced...more

Morrison & Foerster LLP

Tax Treatment of “Bad Boy Guarantees” Challenged by Recent IRS Memorandum

I. OVERVIEW - A recently released legal memorandum by the Internal Revenue Service (IRS) Office of Chief Counsel, CCA 201606027 (the “Memorandum”), concluded that a so-called “bad boy guarantee” provided by a sponsor of...more

Troutman Pepper

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

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BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

Morris James LLP

Bahamas Resort Baha Mar Files For Bankruptcy in Delaware

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On June 29, 2015, Baha Mar Ltd, the development company behind a $3.5 billion Bahamian resort and its affiliated debtors, filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in the U.S. District Court of...more

Troutman Pepper

Real Estate Cases: Bad Faith Filing Does Not Necessarily Mean That You Are A Bad Person

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In re Sterling Bluff Investors, LLC, 515 B.R. 902 (Bankr. S.D. Ga. 2014) – A mortgagee moved to dismiss a real estate debtor’s chapter 11 case, or in the alternative for relief from the automatic stay. It contended...more

Troutman Pepper

Construction Contracts: Nothing Beats a Meeting of the Minds

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Waldschmidt v. Singletary Construction LLC (In re Tackett), 516 B.R. 498 (Bankr. M.D. Tenn. 2014) – A bankruptcy trustee sought turnover of profits from the sale of homes constructed by a contractor. The trustee...more

Snell & Wilmer

Recent Developments in Arizona Construction Law

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Notable 2014 Case Law: Bonds - In Ponderosa Fire District v. Coconino County, 235 Ariz. 597 (Ct. App. Ariz. 2014), the Court of Appeals considered whether the County had discretion to decide not to call...more

Troutman Pepper

Loan to Own Variation: Bankruptcy May Not Provide The Answers

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In re SR Real Estate Holdings, LLC, 506 B.R. 121 (Bankr. S.D. Cal. 2014) – A group of lenders moved to dismiss the debtor’s bankruptcy case on the basis that it was filed in bad faith, or in the alternative asked the...more

Troutman Pepper

Sales Free and Clear: What About Restrictive Covenants?

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Heatherwood Holdings, LLC v. HGC, Inc. (In re Heatherwood Holdings, LLC), 746 F.3d 1206 (11th Cir. 2014) – A chapter 11 debtor owned property that had always been used as a golf course and club. When it requested that...more

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