Real Estate Committee

ABI Committee News

Volume 6, Number 4 / April 2009

In This Issue:

The 11th Annual New York City Bankruptcy Conference

The 11th Annual New York City Bankruptcy Conference will take place on Monday, May 4, at the landmark New York Marriott Marquis.  This day-long education forum is designed to appeal to both new and experienced professionals and features a faculty of bankruptcy judges as well as practitioners from the top national insolvency firms.  The stand-alone primer course, “Bankruptcy Fundamentals:  Nuts & bolts for Young and New Practioners,” will be held the preceding Friday.  One of the sessions will be of particular interest to the committee.

Panelists in the “Real Estate” session will discuss the depressed real estate market and homebuilder bankruptcies as well as the TOUSA case and current challenges facing owners of single asset real estate.  My Chi To of Debevoise & Plimpton LLP in New York will moderate.  Panelists will include Hon. Cecelia G. Morris of the U.S. Bankruptcy Court (S.D.N.Y.) in Poughkeepsie, N.Y., Alec P. Ostrow of Stevens & Lee, PC in New York, John Pidcock of Bridge Associates LLC in Cleveland and Sanford P. Rosen of Sanford P. Rosen & Associates, PC in New York.  Please click the link below to view papers by Mr. Ostrow and Mr. Rosen.

Homebuilder Bankruptcies: Depressed Values Settle Some Controversies and Create Others; TOUSA and Sales Free and Clear of Restrictive Covenants
Single Asset Real Estate Bankruptcy & Recent Developments

Publication Spotlight

ABI’s Bankruptcy Issues for Commercial Landlords, Tenants and Mortgagees, Second Edition, written by David R. Kuney of Sidley Austin, LLP (Washington, D.C.), is a comprehensive, highly readable book on the rights and obligations of tenants, landlords and third parties. The book has been updated to add new cases and issues arising under BAPCPA as well as in other areas where there has been significant development of the law, including letters of credit, landlord claims and the calculation of the statutory cap for such claims. The book also covers lease assumption, rejection, curing of defaults, damage calculations and pre-petition strategies, among other matters. Softbound, 150 pages.  Order your copy ($25 each) at the ABI Bookstore by clicking here.  Be sure to log into the web site first to obtain the member price!