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Stephen Sather
New Opinion Raises Difficult Questions on Adequate Creditor Protection

A new opinion in the Scopac case raises difficult questions about adequate protection. In Matter of Scopac , No. 09-40307 (5 th Cir. 10/19/10), which can be found here, the Fifth Circuit ruled that secured creditors were entitled to a super priority...

Stephen Sather
Schwab v. Reilly Places Homesteads at Risk Years After Filing

A new opinion from the Ninth Circuit illustrates the practical implications of Schwab v. Reilly , 130 S.Ct. 2652 (2010). In Matter of Gebhart , No. 07-16769 (9th Cir. 9/14/10), the Court held that the Trustee was entitled to reap the benefits of post...

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Ted Connolly
NY Courts’ New Rule Could Slow Down Foreclosures

As reported on Law.com , the New York state court system has directed lawyers moving for foreclosures to file an affirmation that they have verified the accuracy of the papers they are filing in support of the foreclosure. While lawyers regularly operate...

Gary Larkin
Directors Beware! Next Crisis is Upon Us

Don't look now public company directors, but the next financial crisis may be upon us and it looks a lot like the 2008 crisis that was borne out of the housing bubble. Apparently, the underlying cause of the collapse of the mortgage-backed securities...

Ted Connolly
Does the End of the Foreclosure Freeze Mean the Problems are Solved?

As banks lift their foreclosure freezes, many people may assume that the banks have solved their problems in documenting foreclosures. I suggest this is not the case. To understand this, keep in mind one of the problems. This is that an electronic...

J. Michael McBride
Mega Church Files Bankrutpcy

Sagging under the weight of 43 million dollars in debt, the Crystal Cathedral has filed for chapter 11 bankruptcy (reorganization). The filing marks the economic downturn's invasion into the mega church arena. Over the years, small churches have...