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Simultaneous Distress Of Residential Developers And Their Secured Lenders: An Analysis Of Bankruptcy & Bank Regulation, Sarah P. Woo
Simultaneous Distress Of Residential Developers And Their Secured Lenders: An Analysis Of Bankruptcy & Bank Regulation, Sarah P. Woo
Sarah P Woo
With falling home prices and home foreclosures currently acknowledged as a severe problem in the U.S., more attention needs to be paid to the contributing phenomenon of residential developers undergoing liquidation, which has left behind a trail of partially-completed or abandoned properties. In order to understand this phenomenon, we analyzed 222 residential developers that filed Chapter 11 bankruptcy petitions between November 2007 and December 2008. We find that only a very small proportion of these developers, as compared to previous similar large studies, confirmed a reorganization plan. Most cases ended in liquidations. In the sample, 72.5% of the cases showed …
Can More (Foreclosure) Be Less (Harmful)? A Closer Look At Exclusivity Agreements, Ittai Paldor
Can More (Foreclosure) Be Less (Harmful)? A Closer Look At Exclusivity Agreements, Ittai Paldor
Ittai Paldor
Exclusive dealing agreements, agreements whereby a firm commits to purchasing exclusively from or selling exclusively to another firm, have both pro- and anti- competitive effects. Their legality is therefore determined on a case-by-case basis under the rule of reason. Within the framework of the rule of reason, the share of the market foreclosed by the agreements is a key (although in no way the sole) element of the analysis. The prevailing view is that, all else equal, the larger the market share foreclosed – the greater the competitive danger posed by exclusivity. In the following I suggest that a careful …
Workout-Driven Exchanges, Brad Borden, Todd D. Keator
Workout-Driven Exchanges, Brad Borden, Todd D. Keator
Bradley T. Borden
Market forces in a depressed real estate market often lead to foreclosures, which may generate taxable gain to the debtor. Some foreclosure sales may qualify for Section 1031 nonrecognition, if the debtor properly structures the disposition. This Article discusses structures that help foreclosure transactions qualify for Section 1031 nonrecogntion. The Article also discusses the application of Section 1038 to recquisitions of exchanger-financed relinquished property.