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Chapter 11 income property cramdown. Debtor wants to lease the
Debtor just filed a Chapter 11 case. He owns one income property and
intends to cram the first mortgage down to the fair market value. Debtor
wants to focus on his core business intends to lease the property to his
friend who will sublease it and may hire a broker to find a tenant.
Debtor's friend or friend's entity will sign a listing agreement with the
broker. Debtor/Owner may incur all property expenses directly or may
receive reduced rent if the managing person/entity is paying some
expenses.
1. Does the arrangement present problems per se?
2. Is it a problem that a broker (hired by the friend) might be marketing
estate property without having been approved by the court?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
Debtor just filed a Chapter 11 case. He owns one income property and intends to cram the first mortgage down to the fair market value. Debtor wants to focus on his core business intends to
lease the property to his friend who will sublease it and may hire
a broker to find a tenant. Debtor's
friend or friend's entity will sign a listing agreement with the
broker. Debtor/Owner may incur all
property expenses directly or may receive reduced rent if the managing
person/entity is paying some expenses.1. Does the arrangement present problems per se?2. state property without having been approved by the court?
-- Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
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