Although property obtained by a debtor after filing for bankruptcy is usually safe from creditors, a recent case from the Ninth Circuit Bankruptcy Appellate Panel allowed a Chapter 7 Trustee to sell real property obtained by the debtors post-petition.

In In re Nilsson, 129 Nev. Adv. 101 (December 26, 2013), the United States Bankruptcy Court for the District of Nevada certified the following question to the Nevada Supreme Court:

If all goes as planned, the Uniform Law Commission will finalize and promulgate a model act dealing with the appointment and powers of commercial real estate receivers at some point in 2015.  Last month, the Drafting Committee for this model act met in Minneapolis, MN to discuss and revise the latest draft.

Under Arizona law, does a secured creditor need to file a deficiency action within 90 days after a trustee’s sale to preserve the unsecured portion of its claim in a bankruptcy case? Or is filing (or amending) a proof of claim sufficient? Two recent cases out of Arizona provide conflicting answers.

On May 18, 2012, the Arizona Supreme Court issued an opinion in Hogan v. Washington Mutual Bank, N.A., et al., CV-11-0115-PR, holding that Arizona’s non-judicial foreclosure statutes do not require the beneficiary to show the original promissory note for the trustee to notice and conclude a non-judicial trustee’s sale.