When a real estate development is carved-up in such a way as to create multiple owners with different types of interests, trying to structure a workout package that pleases everyone can be extremely difficult. Often, the debtor's tools in bankruptcy - to discharge, prioritize, bring in new money, avoid, recapture, limit, and cramdown - are the only ways to try to salvage the development. This program examines the use of such remedies in the context of one such multi-owner structure - the condo/hotel - and why receiverships simply don't provide enough recognized controls.
Welcome to my blog. I use it primarily to publish my materials from programs I present before the American Bar Association, the American College of Real Estate Lawyers, the American Inns of Court, the District of Columbia Bar, the Maryland State Bar Association, the Harvard Business School Club of Washington, D.C., and other organizations. I would love to receive any questions, comments, criticisms and suggestions you may have on any of these topics. Please check my law firm’s website, at www.samuelson-law.com, and contact me.
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