Clifford Chance

Debtor with Multiple Commercial Properties is Subject to Single Asset Real Estate Provisions of the Bankruptcy Code

26 July 2012

A recent decision by the United States Bankruptcy Court for the Southern District of Georgia holds that a debtor owning multiple commercial properties is nevertheless subject to the single asset real estate provisions of the Bankruptcy Code when a secured creditor holds a lien on one of the properties and that property generates substantially all the debtor's gross income and otherwise satisfies the "single asset real estate" definition.

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