(S.D. Ind. Feb. 3, 2016)

(Bankr. W.D. Ky. July 28, 2017)

(S.D. Ind. Feb. 27, 2017)

The district court dismisses the appeal because the bankruptcy court’s order was not final and appealable. The creditor had filed an emergency motion for stay relief to proceed with acquiring title to the debtor’s real property through Indiana’s tax sale and tax deed procedures. The bankruptcy court denied the motion without prejudice. The district court holds that the bankruptcy court’s order was not final, in part because it was without prejudice and appeared to be a preliminary decision. Opinion below.

Judge: Young

(Bankr. S.D. Ind. Feb. 15, 2017)

(Bankr. S.D. Ind. Feb. 10, 2017)

The bankruptcy court enters judgment in favor of the debtor on the trustee’s claims to avoid transfers of real property, but the court enters judgment in favor of the trustee on the claim under 11 U.S.C. § 727(a)(4) and denies the debtor a discharge. The court finds that the debtor made a false oath on his statement of financial affairs with reckless disregard for the truth. The debtor had transferred property prior to his divorce but claimed those transfers were made as a result of the divorce. Opinion below.

Judge: Moberly

(7th Cir. Dec. 21, 2016)

The Seventh Circuit affirms the bankruptcy court’s judgment that certain real property of the debtor was exempt because it was held in a tenancy by the entirety under Illinois law. The creditor argued that the tenancy by the entirety was severed when the real property had been transferred to a trust prepetition. The Seventh Circuit examines applicable Illinois statutes and concludes that the transfer did not sever the tenancy by the entirety. Opinion below

Judge: Posner

Attorney for Debtor: Kofkin Law, Scott J. Kofkin

(Bankr. E.D. Ky. Nov. 22, 2016)

The bankruptcy court grants the creditor’s motion to modify the stay to allow the creditor to proceed with the state court real property foreclosure action. The court finds that cause exists for stay relief for reasons including that this second bankruptcy filing by the debtor was pending for three months, the debtor’s plan depended on a sale of the property, the debtor had not taken any action to proceed with the sale, and there was no proof that the debtor’s spouse (co-owner of the property) would consent to the sale. Opinion below.

(6th Cir. Oct. 25, 2016)

1. State of the Restructuring Market

1.1 Market Trends and Changes

State of the Restructuring and Insolvency Market

There were 27,359 insolvencies in France as of the end of September 2021, down 25.1% from the same period in 2020, and down 47.9% from September 2019. Such reduction is relatively stable across all sectors, including those most severely affected by the health-related restrictions, such as accommodation and food services (down 44.2% year-on-year) and trade (down 28.1% year on year).

The COVID-19 pandemic shook the global real estate and hospitality industry as lockdowns were put in place across the globe. The sudden and unexpected lack of footfall caused revenues in physical centers such as restaurants, shopping malls and hotels to plummet, compounding existing structural inefficiencies and accelerating the speed of change for many businesses.