SARE Bankruptcies Revisited

Law360, New York (September 27, 2011, 4:44 PM EDT) -- In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act made substantial changes to the administration of bankruptcy cases that involve single asset real estate (“SARE”) matters. Most notably, the 2005 act greatly expanded the applicability of the SARE rules. Before the 2005 act, the SARE provisions did not apply if the property’s value exceeded $4 million. The 2005 act eliminated this $4 million cap, and, as a result, the SARE provisions are now applicable to a larger number of real estate cases.

The elimination of...
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