Photo: Courtesy littlerock.com
LITTLE ROCK, Ark. – The largest owner and manager of shopping centers in the Southeast has taken actions to foreclose on Little Rock’s Park Plaza Mall, according to a report in Arkansas Business.
Lenders on Wednesday filed a foreclosure lawsuit asking the court to appoint a receiver after mall owners missed their payment on a loan with a $74.5 million balance.
Deutsche Bank Trust Co. Americas filed the foreclosure lawsuit in Pulaski County Circuit Court. The bank, acting as trustee for Registered Holders of Wells Fargo Commercial Mortgage Securities, says the mall defaulted on the loan, citing a missed payment due in April 2020.
Send Lenders file a foreclosure lawsuit against Park Plaza Mall of Little Rock, asking the court to appoint a receiver after mall owners missed their payment on a loan with a $74.5 million balance.
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In an opinion issued on December 31, 2020, the Florida Supreme Court resolved a certified conflict between several of the Florida appellate courts as to whether borrowers who prevail on an argument that the lender lacked standing at the time of filing of a foreclosure complaint can recover their attorneys fees as the prevailing party. In
Page v. Deutsche Bank Trust Co. Americas, et al., Case No. SC19-1137 (Fla. Dec. 31, 2020), the Florida Supreme Court answered that question with a clear and decisive YES.
The Court determined that the fee-shifting provision outlined in Florida Statute, §57.105(7) allows prevailing borrowers to recover attorneys fees when the underlying mortgage contract contains a unilateral fee provision. The Court found that the issue boiled down to statutory interpretation, and that borrowers cannot be prohibited from using the fee-shifting argument to recover fees, even if there is a determinat
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In 2019, the U.S. Court of Appeals for the Second Circuit made headlines when it ruled that creditors state law fraudulent transfer claims arising from the 2007 leveraged buyout ( LBO ) of Tribune Co. ( Tribune ) were preempted by the safe harbor for certain securities, commodity or forward contract payments set forth in section 546(e) of the Bankruptcy Code. In
In re Tribune Co. Fraudulent Conveyance Litig., 946 F.3d 66 (2d Cir. 2019),
petition for cert. filed, No. 20-8-07102020, 2020 WL 3891501 (U.S. July 6, 2020) (
Tribune 2 ), the Second Circuit concluded that a debtor may itself qualify as a financial institution covered by the safe harbor, and thus avoid the implications of the U.S. Supreme Court s decision in