Left to right: Andrew C. Kassner and Joseph N. Argentina Jr. of Faegre Drinker Biddle & Reath The Continuing Review of Real Estate Sector Bankruptcy Rulings
Continuing our series on distressed real estate cases, we again decided to report on two cases that present different issues. One involves the debtor's sale of real estate over the objection of the secured lender, which was approved. The other involves a debtor's attempt to enjoin a construction bond company from continuing to pay claims by subcontractors after the filing of the bankruptcy case, which was denied.
February 27, 2024 at 10:01 AM
10 minute read
Bankruptcy
This is our first article of 2024. Our first for The Legal Intelligencer was published in 2010 during the Great Recession and involved, ironically, the third Chapter 11 case for the Trump Entertainment Resorts casinos in Atlantic City. Today, continuing our series on distressed real estate cases, we again decided to report on two cases that present different issues. One involves the debtor's sale of real estate over the objection of the secured lender, which was approved. The other involves a debtor's attempt to enjoin a construction bond company from continuing to pay claims by subcontractors after the filing of the bankruptcy case, which was denied.
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