Reversing State Law Tax Sales and Lease Terminations in Bankruptcy: Expanding the Reach of Avoidance Powers
Strategies for Protecting Equity and the Value of Below-Market Leases; Role of Competitive Bidding; Federalism Issues
Note: CPE credit is not offered on this program
A live 90-minute CLE video webinar with interactive Q&A
This CLE webinar will discuss whether a prepetition tax sale of the debtor's property or a noncollusive lease (or option or contract) termination can be avoided post-petition as a fraudulent transfer or preference. The program will discuss how different circuit courts are analyzing these transactions under Sections 548 and 547 of the Bankruptcy Code. Finally, the panel will offer practical strategies for managing the uncertainty.
- Tax sales
- BFP v. Resolution Trust Corp., 511 US 531 (1994)
- Fifth, Ninth, and Tenth Circuits
- Second, Third, Sixth, and Seventh Circuits
- Effect of Tyler v. Hennepin County
- Recent cases
- Pre-petition lease/contract/option terminations
- How the issues arise
- Defining what is transferred
- Reasonably equivalent value
- Recent cases
- Managing the risks to increase certainty
The panel will discuss these and other key issues:
- What are aspects of state tax foreclosures that make them similar to or different from mortgage foreclosures?
- Does Tyler v. Hennepin County affect the analysis?
- Does termination of a lease (or other contract) constitute a transfer under Section 101(54) of the Bankruptcy Code?
- Does it matter whether the debtor is the party seeking termination?
Benjamin M. Carson
Law Offices of Benjamin M. Carson
Mr. Carson brings more than eight years of experience in the legal industry and is dedicated to helping businesses and... | Read More
Mr. Carson brings more than eight years of experience in the legal industry and is dedicated to helping businesses and individuals achieve their goals. He specializes in Chapter 7 and 11 bankruptcies and has a proven track record of representing both debtors and creditors in complex cases. He has successfully confirmed multimillion-dollar Chapter 11 Plan of Reorganization(s) and takes pride in his ability to find tailored solutions to each unique case. Mr. Carson holds memberships with the State Bar of California, the State Bar of Nevada, La Jolla Bar Association and the San Diego Better Business Bureau. He is licensed to practice in both the Central, Southern and Eastern districts of California Federal Courts and the State of Nevada.Close
Victor A. Vilaplana
Mr. Vilaplana is a business reorganization attorney focusing on the handling of insolvency matters, particularly... | Read More
Mr. Vilaplana is a business reorganization attorney focusing on the handling of insolvency matters, particularly complicated business bankruptcies and international transactions. His experience includes representing businesses in multiple fields, from medical device companies to agricultural producers in chapter 11 cases. He represents creditors, debtors as well as official committees in chapter 11 cases and he has also represented state court receivers and assignees for the benefit of creditors. He is also well versed on cross-border transactional matters, specifically involving Mexico and Canada.Close