Description
Presenters: Raymond W. Battaglia and Debra L. Innocenti
With commercial real estate on shaky footing, the prospect for defaults of commercial debtors has increased. Some owners may turn to Chapter 11 bankruptcy for an opportunity to buy time or restructure their secured debt; however, the 2005 amendments to the Bankruptcy Code have expanded some of the more restrictive single-asset real estate (“SARE”) provisions to reach more debtors. As a result, bankruptcy will require earlier and more sophisticated planning.