Elementary school student Eric Theodore Cartman described his experience at Casa Bonita as “totally” worth making an entire town panic, losing all his friends and going to juvenile hall for a week in an episode of the TV show “South Park.” For more than four decades, Casa Bonita, located in Denver, has been an iconic Colorado “eatertainment” establishment offering dining and entertainment, incl
Committees
The pandemic and its enormous global impact clearly demonstrate the latent volatility of hospitality real estate. The lodging industry is perhaps the most labor capital-intensive sector of real estate, and it is unequivocally being stressed by the pandemic. National U.S.
When selling significant assets in chapter 11, more often than not debtors and their professionals proceed with a stalking-horse bid. On occasion, however, we do see assets valued at $100+ million on the auction block without a stalking-horse bid. One such example is the currently pending chapter 11 case of In re Wardman Hotel Owner LLC (the debtor), pending in the U.S.
The chairs of the Real Estate Committee thank all the committee members for their support during this past year. COVID has had quite an impact on real estate lending and real estate bankruptcies. A major (and obvious) theme was the force majeure provision in contracts, and whether the COVID pandemic triggers the clause to, inter alia, excuse rental payments.
In a June 3, 2020, decision,[1] the U.S. Bankruptcy Court for the Northern District of Illinois held that a force majeure provision partially excused a restaurant’s obligation to make post-petition rental payments after the Governor of Illinois, J.B.
On May 15th, JCPenney announced that the company was filing for chapter 11 relief. Another in a trend of major retailers filing for bankruptcy.
In a matter of first impression,[1] the U.S.
The majority of real property leases provide for prepayment of rent on the first of each month.[1] However, tenants filing for chapter 11 do not always pay on the day their rent is due and payable.
Releases in conformation orders do not always protect against subsequent litigation or liability. DVL Inc. and DVL Kearney Holdings LLC (collectively, “DVL”) filed a lawsuit in the U.S. District Court for the District of New Jersey against Congoleum Corp., which in turn sued Bath Iron Works Corp.
Investing in distressed real estate is often characterized by the high returns it can offer on invested capital, as well as the many ways an investor can lose his invested capital. When investing in distressed real estate, either via equity or debt, it is inevitable that investors will come across “hair” that would normally deter more institutional investors.
Mon, 2023-04-24
This panel will discuss what happens when lenders default on paying borrowers for non-monetary reasons, such as covenant or compliance violations on real estate loans like debt-coverage-ratio violations. The lenders’ goal is to regain possession of the real estate for investment purposes and deploy it at higher interest rates. The panelists will discuss the impact and efficacy of this strategy from all angles: institutional lender-side, borrower-side and investor-side.
Thu, 2023-01-19
Sponsored by ABI's Real Estate Committee, Keen-Summit Capital Partners LLC and Summit Investment Management LLC
Wed, 2023-01-11
These overviews from ABI committee experts will arm you with vital information you can use in your practice well into the new year.
Fri, 2022-12-09
This panel will discuss the § 1111(b) election in modern times. It’s not the rule against perpetuities, but it’s also not as simple as your basic loan default. Do you know how to analyze whether making the election makes sense? Perhaps more importantly, do you know how to counsel your client through the process?
Sat, 2022-04-30
The senior living sector, already stressed prior to the pandemic, has been upended by COVID-19. This panel will discuss the effects that COVID-19 has had on operational and financial performance, business models past and future, and the real estate valuations of senior living facilities. The panel will also identify what in-court and out-of-court alternatives exist, and will highlight adaptive reuse opportunities for owners and operators of these facilities.
Fri, 2017-12-01
Hosted by the Health Care, Real Estate, and Technology and Intellectual Property Committees This panel will explore the rapidly changing world of information technology and medical device technology, and how it is transforming the health care system in America. Just as importantly, the panelists will discuss the financial implications and issues impacting health care providers due to the costs associated with these technological changes, and how they are dealt with in the circumstance of a financially distressed health care business.
Thu, 2017-10-19
Many insolvency professionals regularly encounter the rejection of real property leases under section 365 of the Bankruptcy Code, either through the representation of debtors, creditors, landlords, or tenants. Lease rejection issues have become more prevalent during the recent spate of retail bankruptcies, particularly due to the rise of online retail and the accompanying threat to traditional brick-and-mortar.
Tue, 2017-04-04
In 2010, at the height of the last economic downturn, there were almost three million foreclosure filings nationwide. It therefore is not surprising that almost all insolvency professionals will confront foreclosure at some point, either representing a lender considering a foreclosure filing or whose claim is affected by one, or a borrower facing threats of foreclosure. This Webinar will provide experienced and novice practitioners alike with the tools needed to advise on these situations.
Tue, 2017-03-07
Authors of the most recent Real Estate Committee newsletter recently held a committee call to discuss their respective articles and take participant questions. Topics included: application of section 363(h) of the Bankruptcy Code, “surrender” of collateral in Chapter 7 and 13 cases, and attorneys’ fees as “cure costs".
Fri, 2016-04-15
Hospitality and the Tax Man: Historical Hospitality Tax Issues in Distress
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Mr. Evan T. Miller
Co-Chair
Saul Ewing Arnstein & Lehr LLP
Wilmington, DE
(302) 421-6800
Co-Chair
Saul Ewing Arnstein & Lehr LLP
Wilmington, DE
(302) 421-6800
Ms. Erin A. West
Co-Chair
Godfrey & Kahn, S.C.
Madison, WI
(608) 284-2277
Co-Chair
Godfrey & Kahn, S.C.
Madison, WI
(608) 284-2277
Ms. Katharine B. Clark
Education Director
Thompson Coburn LLP
Dallas, TX
(972) 629-7100
Education Director
Thompson Coburn LLP
Dallas, TX
(972) 629-7100
Mr. Greg Corbin
Membership Relations Director
North Point Real Estate Group
New York, NY
(212) 359-9904
Membership Relations Director
North Point Real Estate Group
New York, NY
(212) 359-9904
Mr. Charles A. Malloy
Newsletter Editor
Arnold & Porter
Washington, DC
(202) 942-5926
Newsletter Editor
Arnold & Porter
Washington, DC
(202) 942-5926
Mr. David E. Levy
Special Projects Leader
Summit Investment / Keen-Summit Capital
Chicago, IL
(312) 909-1696
Special Projects Leader
Summit Investment / Keen-Summit Capital
Chicago, IL
(312) 909-1696