Defense of First Lien Position for a Community Bank
Our firm successfully prosecuted a CF Bank's first lien position by obtaining a state court receiver. We defeated the borrower’s attempt to stop foreclosure by filing personal business bankruptcy and restored operation of property in the bank’s receiver and helped stabilize cash flows. Our lawyers also developed and prosecuted follow-up actions against the borrower’s spouse and a closely held limited liability company (LLC). Additionally, we enhanced our client’s recovery through actions against title insurer for its negligence.
Cognovit Judgment on 100 Residential Properties Across Several States
On behalf of Advantage Bank, we successfully obtained cognovit judgment against a borrower on loans collateralized by nearly 100 residential properties across several states. This involved the appointment of receiver, which stabilized the cash flow from operations. We also successfully defended the borrower’s attack on the validity of our client's mortgages in bankruptcy proceedings and subsequently handled the receiver’s sale of all real property collateral.
$1.5 Million Liquidation of Shoe Retailer
Our lawyers represented the bankruptcy trustee in the liquidation of a multi-state fashion shoe retailer with inventory valued at more than $1.5 million. Our work included assisting in the closure of four stores in urban retail malls across three states. We also litigated and resolved contested claims of landlords for unpaid rent and charges due under defaulted leases and secured approval of the court for the Trustee’s bulk sale of inventory to a nationally known liquidator. Ultimately, Kegler Brown lawyers prosecuted the actions to recover preferential transfers.