Bankruptcy Remoteness and Single-Asset Real Estate Cases

Navigating the Evolving Landscape of Commercial Real Estate Bankruptcies

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, April 9, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide counsel with approaches for commercial real estate debtors, their lenders and creditors to deal with bankruptcy remoteness and single-asset real estate (SARE) cases.

Description

The General Growth Properties case highlights the limits of bankruptcy remoteness of SPEs and similar entities. General Growth, and other more recent cases in which courts dismissed a mezzanine borrower’s case as a bad faith filing, provide guidance for SPEs.

SARE rules hamper a debtor’s ability to reorganize or buy time to avoid foreclosure. While secured lenders often file for dismissal based on bad faith filing on the eve of foreclosure, the bankruptcy court analysis often turns on whether the debtor has reasonable prospects for reorganization.

The River East Plaza ruling provides guidance for undersecured lenders on utilizing the seldom-invoked Section 1111(b) election in objecting to a SARE debtor’s reorganization plan.

Listen as our authoritative panel of bankruptcy attorneys guides you through the morass of complexities in bankruptcy remoteness, single-asset bankruptcy cases, and other challenges facing real estate debtors and their creditors and lenders in commercial real estate bankruptcies.

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Outline

  1. Bankruptcy remoteness
    1. Lessons learned from General Growth
    2. Case law developments post-General Growth
    3. Best practices to strengthen remoteness
  2. Single-asset real estate cases
    1. Automatic stay
    2. Adequate protection
    3. Plan confirmation hurdles

Benefits

The panel will review these and other key questions:

  • Has bankruptcy remoteness of SPEs survived and what steps can be taken to strengthen remoteness of these entities?
  • What hurdles do the SARE rules impose for real estate debtors?
  • How do the SARE rules impact the viability of Chapter 11 as a restructuring strategy?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Arthur J. Steinberg
Arthur J. Steinberg

Partner
King & Spalding

He is a senior financial restructuring partner with 30 years of experience representing examiners, trustees,...  |  Read More

Patrick E. Mears
Patrick E. Mears

Partner
Barnes & Thornburg

He concentrates his practice in insolvency, workouts and restructurings, commercial finance, securitizations, and...  |  Read More

Lisa D. Updike
Lisa D. Updike

Barnes & Thornburg

Her practice includes bankruptcy, commercial litigation and real estate matters. Her creditor representation ranges...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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