Joint Ventures Involving Tax-Exempt Organizations, 4th Edition

CHAPTER 19Debt Restructuring and Asset Protection Issues

1. § 19.1 Introduction
2. § 19.2 Overview of Bankruptcy
3. § 19.3 The Estate and the Automatic Stay
4. § 19.4 Case Administration
5. § 19.5 Chapter Plan
6. § 19.6 Discharge

§ 19.1 INTRODUCTION

p. 1336. In footnote 1, delete 2013 and replace it with 2018.

§ 19.2 OVERVIEW OF BANKRUPTCY

(b) Chapter 11 Bankruptcy

(i) Generally.   p. 1348. In footnote 28, delete the last sentence and insert the following at the beginning of the footnote:

See In re E. End Dev., LLC, 491 B.R. 633, 640 (Bankr. E.D.N.Y. 2013) (finding the debtor's managing member was authorized to file the Chapter 11 petition “[b]ased on the language of the Operating Agreement, and the clear intent to give the Managing Member broad authority to act on behalf of the Debtor and to bind third parties with respect to the Debtor”);

(ii) Commencement of Chapter 11 Bankruptcy.   p. 1350. Delete language in footnote 32 in its entirety and replace it with the following:

In re Market Center East Retail Property, Inc., 433 B.R. 335 (Bankr. New Mexico 2010); UBS Commercial Mtge. Trust 2007-FL1 v. Garrison Special Opportunities Fund L.P., 938 N.Y.S.2d 230 (N.Y. Sup. Ct. Mar. 8, 2011).

(iv) Plan/Sale.   p. 1356. Add the following to the end of footnote 59:

See also In re Pursuit Capital Mgmt., LLC, No. BR 14-10610-LSS, 2016 WL 5402735, at *5 (D. Del. Sept. 26, 2016) (holding the Trustee requested approval of Purchasers' bid from the outset of the sale hearing, consistent with his ...