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ETHICAL ISSUES IN REAL ESTATE-BASED BANKRUPTCIES 2020: Single Asset Real Estate (SARE) Cases



Content Partner:  Financial Poise
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Description:

Anyone involved in the field of creditors rights on a matter involving an LLC that exists solely to hold the principal asset has surely seen the play where, the night before property is scheduled to be sold at a foreclosure auction, the debtor files bankruptcy.  For those not familiar with the process, doing so invokes the “Automatic Stay”, which prohibits the secured lender from foreclosing on the property.  The debtor then attempts to make their case to the court for reorganization.
 
But is failing to pay your mortgage really something bankruptcy was meant to solve?  If the bank was going to agree to a loan modification, wouldn’t the parities have worked something out by the time the sheriff sale was set?  The bankruptcy code recognizes this and therefore has a section devoted to dealing with this specific kind of bankruptcy—the Single Asset Real Estate (“SARE”) case. The goal of this episode is to look into ethical issues surrounding these matters.
 
Legal Ethics Issues Addressed:
A number of the Model Rules are implicated in bankruptcy cases (as they are in litigation in general). Examples include the lawyer’s duty to bring meritorious claims, to be truthful with the Court (and not withhold information relating to criminal or fraudulent enterprises), to be fair to opposing party/counsel, to refrain from engaging in conduct which would disrupt a proceeding or seek to exert undue influence on any Judge or party, and to be truthful in statements to the Court and to others.

This webinar is delivered in Plain English, understandable to you even if you do not have a background in the subject. It brings you into an engaging, even sometimes humorous, conversation designed to entertain as it teaches. And, it is specifically designed to be viewed as a stand-alone webinar, meaning that you do not have to view the other webinars in the series to get a lot out of it.



Practice Areas: Bankruptcy & Creditors Rights, Ethics & Professional Responsibility, Real Estate Law
Online Media Type: Audio
Production Date: 03/17/2020
Level: Intermediate
Category: Standard
Duration: 1 Hours, 7 Minutes
Online Format: On Demand

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This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing sales@westlegaledcenter.com.







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Accreditation:
AK, AL, AR, AZ, CA, CEU, CT, GA, GU, HI, IL-EXPER, IL-NEWADMIT, IN, MS, MT, NC, ND, NH, NJ, NV, NY-EXPER, OK, PA, PR, UK-BSB, UK-SRA, VI, VT, WV
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Total Credits: 1
Specialty Credits: Ethics 1
Status: Reciprocal Credit Available
Expiration: 03/16/2023
Training Type: Online

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Speakers:
David Levy - NRC Realty & Capital Advisors LLC, Chicago
Christopher Horvay - Sugar Felsenthal Grais & Helsinger, Chicago
Michael Rosow - Shareholder, Winthrop & Weinstine
Mark Silverman - Member, Dykema
This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.


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