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Subtenant retains possessory rights under section 365(h) despite explicit free and clear section 363(f) sale

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

At a "free and clear" asset sale, a buyer obtained a lease of real property that the bankruptcy court held was not free and clear of interests after

Court of Appeal considers the grounds for reopening an application for reconsideration of a refusal to allow permission to appeal

  • Reed Smith LLP
  • -
  • United Kingdom
  • -
  • January 6 2011

In Trevor Guy v Barclays Bank plc 2010 EWCA Civ 1396 the Court of Appeal heard an application under CPR 52.17 for reconsideration of a refusal to grant permission to appeal a summary judgment decision

Secured lender took sufficient affirmative action to effect the assignment of rents

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 19 2011

The debtor executed a mortgage and assignment of rents in favor of the lender

Replacement lien in rents in favor of secured creditor is not adequate protection where the debtor has no equity cushion

  • Reed Smith LLP
  • -
  • USA
  • -
  • March 22 2011

The debtor, the developer of a retail shopping center, executed: (i) a mortgage securing the property, and (ii) an assignment of all rents from the property, in favor of its lender

Secured creditors need not file a proof of claim to lift the automatic stay to proceed with a foreclosure action

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 19 2011

An individual debtor appealed the Bankruptcy Court’s orders lifting the automatic stay to permit two creditors to proceed with foreclosure proceedings on real property

Pennsylvania Supreme Court affirms the Dunham rule and restores certainty to oil and gas law

  • Reed Smith LLP
  • -
  • USA
  • -
  • May 1 2013

Last August, we reported that a Pennsylvania Superior Court decision (Butler v. Charles Powers Estate) threatened to undermine nearly 200 years of

Court grants parent companies standing to sue lender as third-party beneficiaries of loan commitment agreements

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 15 2011

A real estate lender agreed to finance three existing projects by lending money to three separate Single-Asset Bankruptcy Remote Entities (SABREs), owned by certain real estate investments trusts, and to finance $160 million in future ventures of the trusts, with further SABREs to be created as each deal came to fruition

Bona fide purchasers protected from trustee action

  • Reed Smith LLP
  • -
  • USA
  • -
  • April 27 2009

The U.S. Court of Appeals for the Ninth Circuit has held that a bankruptcy trustee could not avoid an unauthorized sale of real estate to a bona fide purchaser although the proceeds of the sale did belong to the estate

Junior lien holder bankruptcy stays foreclosure by senior lien holder

  • Reed Smith LLP
  • -
  • USA
  • -
  • April 27 2009

A bankruptcy filing by a property owner may not be the only action that prevents foreclosure of a security interest in that property held by a secured creditor

Ninth Circuit joins Eleventh, holds there is federal common law of receivership

  • Reed Smith LLP
  • -
  • USA
  • -
  • October 15 2009

The U.S. Court of Appeals for the Ninth Circuit has held that there is a federal common law of receivership in the context of real property security interest, joining the Eleventh Circuit