Andrew C. Kassner

Nov 25, 2024 | law.com | Andrew C. Kassner

Left to right: Andrew Kassner and Joseph Argentina, Faegre Drinker Biddle & Reath Commentary In a recent decision in In re Taing, the U.S. Bankruptcy Court for the District of Massachusetts held that a mortgagee holds a claim that could be modified by a Chapter 11 plan even if the debtor was not indebted under the mortgage, but limited the ability to “cram down” the plan terms against the lender to the extent it modified the lender’s rights against the nondebtor obligor.

Oct 11, 2024 | law.com | Andrew C. Kassner

Given the downward pressure on commercial real estate valuations in many areas, and the increasing likelihood that owners of real property will cease paying real property taxes when there is no longer any equity, we decided to report today on a recent decision issued by the U.S. Court of Appeals for the Ninth Circuit that reversed a decision of the bankruptcy court, affirmed by the district court, allocating the distribution of the proceeds of a sale of real property pro rata between the...

Sep 6, 2024 | law.com | Andrew C. Kassner

We all know the old saying—possession is 90% of the law. Well, today we discuss the other 10% and review two situations where a lender received payments and later was forced to disgorge them. The cases involve two recent court adverse decisions for lenders in contexts often seen in the commercial real estate context.

Aug 1, 2024 | lawjournalnewsletters.com | Andrew C. Kassner

BankruptcyLitigationIn In re Jughandle Brewing, a NJ Bankruptcy Court concluded allowance of an administrative expense claim is not automatic and also may not be the sole remedy for a debtor or trustee’s failure to perform its post-petition obligations under a commercial lease. As we reported in the May issue of The Bankruptcy Strategist, landlords often hold large claims in bankruptcy cases involving commercial real estate when the lease is rejected by the tenant debtor.

Jul 5, 2024 | law.com | Andrew C. Kassner

As we reported in this column in April, landlords often hold large claims in bankruptcy cases involving commercial real estate when the lease is rejected by the tenant debtor. In these cases, not only are rejection claims unsecured and capped, but, as all unsecured creditors experience, often unsecured claims receive pennies on the dollar.