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Hosted by the Health Care, Real Estate, and Technology and Intellectual Property Committees This panel will explore the rapidly changing world of information technology and medical device technology, and how it is transforming the health care system in America. Just as importantly, the panelists will discuss the financial implications and issues impacting health care providers due to the costs associated with these technological changes, and how they are dealt with in the circumstance of a financially distressed health care business.
Many insolvency professionals regularly encounter the rejection of real property leases under section 365 of the Bankruptcy Code, either through the representation of debtors, creditors, landlords, or tenants. Lease rejection issues have become more prevalent during the recent spate of retail bankruptcies, particularly due to the rise of online retail and the accompanying threat to traditional brick-and-mortar.
In 2010, at the height of the last economic downturn, there were almost three million foreclosure filings nationwide. It therefore is not surprising that almost all insolvency professionals will confront foreclosure at some point, either representing a lender considering a foreclosure filing or whose claim is affected by one, or a borrower facing threats of foreclosure. This Webinar will provide experienced and novice practitioners alike with the tools needed to advise on these situations.
Releases in conformation orders do not always protect against subsequent litigation or liability. DVL Inc. and DVL Kearney Holdings LLC (collectively, “DVL”) filed a lawsuit in the U.S. District Court for the District of New Jersey against Congoleum Corp., which in turn sued Bath Iron Works Corp. (BIW) as a third-party defendant concerning a contaminated piece of land. Previously, Congoleum had gone through a bankruptcy where it settled asbestos-related personal-injury claims and the confirmation order contained certain releases of liability.
Investing in distressed real estate is often characterized by the high returns it can offer on invested capital, as well as the many ways an investor can lose his invested capital. When investing in distressed real estate, either via equity or debt, it is inevitable that investors will come across “hair” that would normally deter more institutional investors. This “hair” may appear in the form of a property in desperate need of repairs, one that has significant environmental damage, or a property that does not have clean and marketable title.
Shopping centers are a delicate blend of stores and services, carefully crafted at the hand of the master mixologist: the landlord. However, if a landlord doesn’t take certain precautions, it may lose its right to control the balance of the ingredients to this cocktail: the tenant mix. On May 30, 2018, Eastern District of Virginia Bankruptcy Judge Keith Phillips ruled that a landlord in Brea, Calif., could not rely on 11 U.S.C.
A Massachusetts bankruptcy court has ruled that a duplex used both as the debtors’ residence and an Airbnb rental qualified for Massachusetts’s homestead exemption. The chapter 7 debtors in In re Shove[1] moved to avoid a million-dollar judgment lien on their real property, arguing that the lien impaired their homestead exemption. The debtors valued their duplex at $195,400, with a mortgage balance of $162,125. The lienholder objected to the lien avoidance.
