Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Sixth Circuit Upholds Assignment of Rents to Secured Lender
    2017-05-23

    “[T]he debtor … did not retain sufficient rights in the assigned rents under Michigan law for those rents to be included in the bankruptcy estate,” held the U.S. Court of Appeals for the Sixth Circuit on May 2, 2017. In re Town Center Flats LLC, 201 U.S. App. LEXIS 7733, *2 (6th Cir. May 2, 2017). Relying on Michigan law and the language of the relevant documents, the court reversed the bankruptcy court’s holding that gave the Chapter 11 debtor access to the assigned rents as operating funds during its reorganization.

    Relevance

    Filed under:
    USA, Michigan, Insolvency & Restructuring, Litigation, Real Estate, Schulte Roth & Zabel LLP, Bankruptcy, Debtor, Collateral (finance), Mortgage loan, Foreclosure, Default (finance), Sixth Circuit
    Authors:
    Michael L. Cook
    Location:
    USA
    Firm:
    Schulte Roth & Zabel LLP
    MD Ala. Holds Servicer Did Not Violate Discharge By Sending Periodic Statements, NOI, Delinquency Notices, Hazard Insurance Notices
    2017-05-18

    The U.S. Bankruptcy Court for the Middle District of Alabama recently held that a mortgage servicer did not violate the discharge injunction in 11 U.S.C. § 524 by sending the discharged borrowers monthly mortgage statements, delinquency notices, notices concerning hazard insurance, and a notice of intent to foreclose.

    Moreover, because the borrowers based their claims for violation of the federal Fair Debt Collection Practices Act, 15 U.S.C. § 1692, et seq., on the violation of the discharge injunction, the Court also dismissed their FDCPA claims with prejudice.

    Filed under:
    USA, Alabama, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Bankruptcy, Mortgage loan, Bankruptcy discharge, Fair Debt Collection Practices Act 1977 (USA), United States bankruptcy court
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    Effects of Assignor's Bankruptcy on Assignment of Payment Stream
    2017-05-10

    In a May 2, 2017 decision, the Sixth Circuit Court of Appeals decided the fate of a stream of rental payments from the bankrupt owner of a residential complex. (In re: Town Center Flats, LLC, No. 16-1812, May 2, 2017, Sixth Circuit Court of Appeals) The case resembled a similar one, far more controversial and with a different result, from 1993. (Octagon Gas Systems, Inc. v. Rimmer, 995 F.2nd 948, 10th Circuit Court of Appeals, 1993) The Octagon Gas case roiled the factoring and receivables purchasing industry.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Masuda Funai Eifert & Mitchell Ltd, Bankruptcy, Mortgage loan, Default (finance), United States bankruptcy court, Sixth Circuit
    Authors:
    Stephen M. Proctor
    Location:
    USA
    Firm:
    Masuda Funai Eifert & Mitchell Ltd
    11th Cir. Holds Post-Discharge Monthly Mortgage Statements Not Prohibited
    2017-05-08

    The U.S. Court of Appeals for the Eleventh Circuit recently affirmed the dismissal of a mortgage loan borrower’s federal Fair Debt Collection Practices Act and related state law claims because the defendant mortgagee was not a “debt collector” as defined by the FDCPA.

    In so ruling, the Court also rejected the borrower’s allegations that the monthly statements the mortgagee sent to the borrower after her bankruptcy discharge were impermissible implied assertions of a right to collect against her personally.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Class action, Mortgage loan, Bankruptcy discharge, Fair Debt Collection Practices Act 1977 (USA), United States bankruptcy court, Eleventh Circuit
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    Safety and Soundness and the Bankruptcy Code: Does a Bank Commit a Safety and Soundness Violation by Failing to Comply with the Bankruptcy Rules?
    2017-04-26

    It is fair to say that not many, if any, banks have internal controls or policies and procedures to identify and mitigate deficiencies in the bankruptcy practices of banks. Indeed, banks typically rely on their Legal Department or external counsel to make sure banks protect their interests when bank customers file bankruptcy. While the Compliance Department and the Risk Management Department track compliance and risks related to numerous laws, rules and regulations, the Bankruptcy Code and its rules are typically not among those laws and rules.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Duane Morris LLP, Bankruptcy, Mortgage loan, Foreclosure, Internal control, Consumer Financial Protection Bureau (USA), Office of the Comptroller of the Currency (USA)
    Authors:
    Jerome Walker
    Location:
    USA
    Firm:
    Duane Morris LLP
    Indiana Supreme Court Rejects Borrowers’ Argument Bankruptcy Discharge Wiped Out Mortgage Loan, Lien
    2017-04-10

    The Supreme Court of Indiana recently confirmed a mortgagee’s ability to seek an in rem judgment against property for which there was an outstanding lien balance after the borrowers obtained a discharge of their Chapter 7 bankruptcy.

    In so ruling, the Court distinguished the difference between an in rem and in personam judgment, and rejected the borrowers’ unsupported argument that the debt was paid in full by the time the mortgagee initiated foreclosure proceedings against the borrowers.

    Filed under:
    USA, Indiana, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Bankruptcy, Mortgage loan, Indiana Supreme Court
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    Circuit Split Developing over Modification of Mortgages on Mixed-Use Properties
    2017-04-12

    On March 9, 2017, a bankruptcy court in New York became the latest to weigh in on the developing circuit court split regarding whether modification of mortgages should be permitted under 11 U.S.C.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Hunton Andrews Kurth LLP, Mortgage loan, United States bankruptcy court
    Authors:
    Jarrett L. Hale , Tara L. Elgie , Gregory G. Hesse
    Location:
    USA
    Firm:
    Hunton Andrews Kurth LLP
    9th Cir. Holds FDCPA §1692f(6) Applies to Non-Judicial Foreclosures
    2017-04-10

    The U.S. Court of Appeals for the Ninth Circuit recently reversed the dismissal of a Fair Debt Collection Practices Act claim arising out of a non-judicial foreclosure. The Ninth Circuit ruled that section 1692f(6) of the FDCPA applies to non-judicial foreclosure activity.

    A copy of the opinion in Dale Dowers v. Nationstar Mortgage, LLC is available at: Link to Opinion.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Mortgage loan, Foreclosure, Fair Debt Collection Practices Act 1977 (USA), Ninth Circuit, United States bankruptcy court
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    Illinois App. Court (2nd Dist) Holds FHA’s ‘Face to Face’ Meeting Not Required When Loan Discharged in Bankruptcy
    2017-03-13

    The Appellate Court of Illinois, Second District, recently affirmed summary judgment in favor of a mortgagee that failed to meet the FHA requirement to either have a face-to-face meeting with the borrowers or to make “a reasonable effort” to arrange a face-to-face meeting before filing foreclosure, because doing so would have been a futile act after the borrowers’ mortgage loan debt was discharged in bankruptcy and they did not reaffirm the debt.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Bankruptcy, Mortgage loan, Foreclosure, Federal Housing Administration
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    4th Cir. Holds Escrow, Other Principal Residence Mortgage Loan Items Not Subject to Chapter 13 Bifurcation
    2017-02-13

    The U.S. Court of Appeals for the Fourth Circuit recently held that “escrow funds, insurance proceeds, or miscellaneous proceeds” are protected by the anti-modification provisions for Chapter 13 bankruptcies as “incidental property” under the definition of “debtor’s principal residence” in the federal Bankruptcy Code.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Bankruptcy, Mortgage loan, Fourth Circuit
    Location:
    USA
    Firm:
    Maurice Wutscher LLP

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 10
    • Page 11
    • Page 12
    • Page 13
    • Current page 14
    • Page 15
    • Page 16
    • Page 17
    • Page 18
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days