February 28, 2024

The Continuing Review of Real Estate Sector Bankruptcy Rulings

The Legal Intelligencer

Chair emeritus and finance and restructuring partner Andrew Kassner and counsel Joseph Argentina coauthored an article for The Legal Intelligencer titled, “The Continuing Review of Real Estate Sector Bankruptcy Rulings.”

Kassner and Argentina discuss two real estate cases involving a debtor’s sale of real estate over the objection of the secured lender as well as a debtor’s attempt to enjoin a construction bond company from continuing to pay claims by subcontractors after the filing of the bankruptcy case. The latter was denied.

The authors state that the level of distressed commercial real estate debt that must be refinanced over the next couple of years remains very high, and the issues that routinely arose in prior cycles, including when property can be sold free and clear under Section 363, the lender’s right to credit bid, and under what circumstances real estate debtors can obtain injunctions against third parties and adjudicate claims in the bankruptcy court will undoubtedly need to be analyzed both in the context of pre-bankruptcy planning and administration of the case when filed.

The full article is available for The Legal Intelligencer subscribers.

Full Article

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