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| vol 14, num 1 | March 2017 |
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| Authors to Discuss Newsletter Articles |
Please join the authors of this newsletter on Tuesday, March 7th at 4 pm ET for a committee call with the authors to discuss their respective articles and take participant questions. Topics will include: application of section 363(h) of the Bankruptcy Code, “surrender” of collateral in Chapter 7 and 13 cases, and attorneys’ fees as “cure costs".
The dial in is (712) 451-0200 and the code is 114758. |
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| Surrender, Surrender — but Don't Give Yourself Away |
| In yet another example of the lingering impact of the recession on the residential mortgage industry, the U.S. Bankruptcy Court for the District of Hawaii has weighed in on the meaning of a debtor's election to "surrender" his or her residence in a chapter 7 case. Taking issue with the Eleventh Circuit's recent decision in In re Failla, the court ruled in In re Ryan that the debtors' election to surrender their homestead in their 2009 chapter 7 case did not impact their ability, in 2016, to sue the mortgage lender for wrongful foreclosure under Hawaii law. |
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| In the Absence of Default, Landlord Not Entitled to Attorneys’ Fees as Cure Costs Upon Lease Assumption and Assignment |
| The recent spate of major retail bankruptcy filings — Sports Authority, Radio Shack, Wet Seal, PacSun and Aeropostale, to name a few — have thrust landlords into the middle of unfamiliar and complex chapter 11 restructurings and asset sales. Whether the tenants in such cases intend to internally reorganize or liquidate their assets through one or more sales, they often seek to either assume or assume and assign their most attractive leases. To do so, however, the tenant must satisfy all requirements for assumption, including those articulated in § 365(b)(1) of the Bankruptcy Code, which provides, in pertinent part, that ... |
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| Section 363(h): An Oft-Forgotten, Yet Powerful Tool for Co-Owners of Commercial Real Estate |
| While lawyers and trustees in individual debtor bankruptcy cases are likely familiar with § 363(h) of the Bankruptcy Code, many commercial bankruptcy lawyers often forget its existence. Today, creative real estate investment structures, like tenant-in-common (TIC) structures, are used by individuals to own portions of significant income-producing commercial properties, including office buildings, nursing homes and apartment complexes. These ventures often involve numerous owners with divergent backgrounds, financial means and interests. |
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| Financial Advisors in Real Estate Cases |
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The Real Estate and Financial Advisors & Investment Banking Committees will be working together at this year's Annual Spring Meeting to present a session titled "Real Estate Ramifications in Operating Chapter 11 Bankruptcies and How the FA Can Help."
Speakers for this session will include:
Mark T. Benedict
Husch Blackwell LLP; Kansas City, MO
Douglas A. Greenspan
Keen-Summit Capital Partners; New York
Thomas M. Messana
Messana P.A.; Ft. Lauderdale, Fla.
Tom Santoro
GlassRatner Advisory & Capital Group, LLC; Ft. Lauderdale, Fla.
Lawrence E. Young
AlixPartners LLP; Dallas
This year's conference will be held at the Marriott Marquis in Washington, D.C., on April 20 - 23. Don't miss out on this intense networking and educational opportunity!
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©2017 American Bankruptcy Institute . All rights reserved.
66 Canal Center Plaza, Suite 600, Alexandria, VA 22314 |
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