The collapse of a commercial construction project may result in reorganization or liquidation through an insolvency proceeding overseen by a bankruptcy trustee or receiver. As part of the wind-down process, following the liquidation of assets the fiduciary has an obligation to equitably distribute any remaining and recovered assets to the estate’s creditors.
A recent opinion issued by the Ninth Circuit Court of Appeals in the case of Pinnacle Restaurant at Big Sky LLC v.
Three men had a vision to develop a sports complex in Middleton, Del. They formed a limited liability company called, fittingly, Delaware Sports Complex LLC (hereinafter “DSC”)[1].
In the recent case of In re Oakes,[1] the chapter 7 trustee filed an adversary complaint seeking to avoid PNC Mortgage Company’s mortgage on real property owned by the debtors because of a defective acknowledgment of the debtors’ signatures.
When the U.S. Supreme Court decided BFP v. Resolution Trust Corp.,[1] holding that a mortgage foreclosure sale regularly conducted pursuant to state law could not be avoided as a fraudulent transfer under 11 U.S.C.
In In re Town Center Flats LLC,[1] the Sixth Circuit Court of Appeals addressed the extent of a debtor’s interest in an assigned stream of rents.
In In re RW Meridian LLC,[1] the Ninth Circuit Bankruptcy Appellate Panel considered whether the pre-petition expiration of the Debtor’s right of redemption for unpaid taxes permitted the tax authority to complete a tax sale post-petition without obtaining relief from the stay.
The increasing relaxation of state laws regulating both the medical and recreational use of marijuana has led to a boom in marijuana-related businesses (“MRBs”). Because MRBs are not exempt from economic forces, however, courts are increasingly being confronted with bankruptcy filings by and against MRBs.
A recent decision out of the Western District of Pennsylvania, In re Veltre,[1] added to the split among courts about whether a non-collusive foreclosure sale can be avoided as a preferential transfer under § 547.
Recently, the United States Bankruptcy Court for the Eastern District of New York joined a growing list of courts that have disagreed with the First and Third Circuits and interpreted §1322(b)(2)[1] to prohibit a debtor from modifying a second lien secured by the debtor’s personal residence that is also an income-producing rental prope
