Bankruptcy

AGA Attorney Pam Mulligan Appointed to Syracuse AA Board of Directors

Ansell Grimm October 19, 2015

Pamela A. Mulligan, Esquire was recently appointed to the Executive Committee of the Syracuse University Alumni Association (“SUAA”) Board of Directors as Philanthropy Chair. The SUAA serves the Syracuse University (the “University”) global community. The Board of Directors of the SUAA guides the association in establishing priorities for alumni relations consistent with University goals. The SUAA Board of Directors serves a mission-critical role by providing strategic direction, resources, and professional expertise to carry out the University’s advancement objectives. Ms. Mulligan was formerly President of the local Syracuse University Central New Jersey Alumni Club for seven years and served as a general member of the SUAA Board of Directors for one year prior to her appointment to the Executive Committee. Ms. Mulligan is currently an Alumni Admissions Representative for the University and serves on the local board of the Central New Jersey Alumni Club as Immediate Past President.

New Case Law Effecting Chapter 13 Plans and the Priority of Lenders/Condominium Association Assessments

Ansell Grimm July 9, 2015

The U.S. Bankruptcy Court for the District of New Jersey recently recognized that a condominium association’s lien is entitled to a limited six-month priority over a first mortgage. The Court held in the matter, In re: Mark and Ronda Rones (Case No. 14-35899-CMG) that a condominium lien is not a statutory lien but rather a “consensual lien” since it arises from the condominium association’s master deed and bylaws. The Rones Court determined that the act of purchasing the unit and voluntarily accepting and recording the unit deed subjects the unit and the unit’s owners to the master deed and bylaws and gives rise to the lien.

The Rones Court also held that the New Jersey Condominium Act (the “Act”) provides a condominium association lien security for the six-month priority window. However, the Act does not secure the lien beyond that. If the amount due on the first mortgage exceeds the value of the unit, the condominium lien becomes wholly unsecured and in a Chapter 13 Plan may be stripped off. Therefore, where the first mortgage exceeds the value of the unit, a debtor’s Chapter 13 Plan can strip off the condominium lien and deem the portion of the lien subject to the six-month priority as secured and the remainder as unsecured.

Lenders, condominium associations and individual bankruptcy filers alike should all be aware of this new case law.

– Pamela A. Mulligan

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National Business Institute

Ansell Grimm March 31, 2015

Pamela A. Mulligan, Esq., of our office will be a featured speaker at the National Business Institute CLE seminar, “Collection Law From Start to Finish” on April 21, 2015, at the Holiday Inn in Cherry Hill, New Jersey. Ms. Mulligan’s presentation will include: Developing defensive strategies to filing the lawsuit and tips on collecting the judgment. If you are interested in learning more on collections and wish to increase your chances of debt recovery, please attend. To reach Ms. Mulligan directly, please contact her via phone at 609.557.1045 or via email at pam@62q.f7d.myftpupload.com.

Link to seminar registration information – Collection Law From Start to Finish

Ansell Hires New Attorney

Ansell Grimm March 30, 2015

AGA welcomes Pamela A. Mulligan to the firm. Ms. Mulligan is Counsel and focuses her practice in the areas of Litigation, Real Estate and Creditors’ Rights. Ms. Mulligan represents secured and unsecured lenders including corporate and banking clients, in Chapters 7, 11, and 13 bankruptcies, contested and uncontested foreclosures, collection matters, and commercial loan transactions. She also represents businesses and individuals including artists and media organizations in copyright, trademark and general litigation matters. Ms. Mulligan is working closely with our Community Association Group on business development and marketing initiatives.

Prior to joining Ansell Grimm & Aaron, Ms. Mulligan had a lengthy career as a business development executive working on national marketing programs for some of the nation’s largest entertainment, media and non-profit organizations. Ms. Mulligan was previously with prominent New Jersey law firms where she represented national and community banks, businesses, and individuals.

Getting Out of Debt Is Easier Than You Think: Bankruptcy Basics

Ansell Grimm July 12, 2013

Bridget K. Dorney, Esq. wrote an article titled “Getting Out of Debt Is Easier Than You Think: Bankruptcy Basics”, which appears in the July/August 2013 Edition of The Monmouth County Woman publication. In this article, Ms. Dorney provides insight on how someone might go about filing a bankruptcy claim; the differences in Chapter 11 and Chapter 7 and the benefits received from filing a claim. To read the article in it’s entirety, click here.

Fending Off the Appointment of a Receiver

Ansell Grimm July 8, 2013

Joshua S. Bauchner, Esq. recently published an article in the July 1, 2013 edition of the New Jersey Law Journal entitled “Fending off the Appointment of a Receiver.” In today’s stressful economic climate, commercial property owners often are the victims of their tenant’s problems. While a national tenant may file for bankruptcy with the expectation of reorganizing under Chapter 11 of the Bankruptcy Code, the landlord is left having to service the mortgage without cash-flow from that tenant or any ability to commence an eviction or related action as a result of the automatic stay. 11 U.S.C. § 362. Sooner or later (likely sooner) the Landlord’s bank will come calling in the form of a foreclosure action.

While the defaults under the mortgage present their own challenges (the rapid accrual of default interest, late fees, and attorneys’ fees and costs), the likely first step in the foreclosure action will be a Motion to Appoint a Receiver; indeed, this requested relief often is sought contemporaneously with the filing of the foreclosure complaint. The motion will seek the appointment of a receiver simply to collect rents or, more often these days, to take full managerial and operational control over the property divesting the Landlord of all its rights and interests (though not, title, as of yet). This article details some defenses the Borrower (née Landlord) can assert to ward off the appointment. For full article click here

This article was originally published in the July 1, 2013 issue of the New Jersey Law Journal.

Bankruptcy Trustee’s Avoidance Rights Are Nearly Limitless

Ansell Grimm October 23, 2012

Joshua S. Bauchner, Esq. recently published an article in the national online journal, Law360, entitled “Bankruptcy Trustee’s Avoidance Rights Are Nearly Limitless” The article addresses Section 550 of the Bankruptcy Code which applies where the trustee, having already avoided a transfer of some property, seeks to recover that property. Under those circumstances, the recovery must be “for the benefit of the estate.” This requirement does not apply, however, where the trustee seeks only to avoid an obligation that the debtor incurred, which does not require any recovery to the estate. Additionally, Section 550 does not limit the amount of avoidance to a creditor’s claim permitting recovery of a transfer or negation of an obligation in its entirety. These considerations provide a trustee with extraordinary flexibility and range when pursuing claims under sections 544 and 548 of the Code.

Please click here to read Mr. Bauchner’s article in its entirety.

Spotlight on Section 550 of the Bankruptcy Code

Ansell Grimm August 29, 2012

Joshua S. Bauchner, Esq. recently published an article in the national online journal, Law360, entitled “Spotlight on Section 550 of the Bankruptcy Code.” The article addresses the “benefit of the estate” language of section 550 of the Bankruptcy Code which informs and guides most bankruptcy practice. It permits the trustee to recover property from a transfer avoided pursuant to sections 544, 545, 547, 548, 549, 553(b), or 724(a). However, the “benefit of the estate language” often is limited by courts and practitioners to take into consideration only benefit to creditors of the estate; rather than to all of the various constituencies comprising the bankrupt estate, including equity. This is too narrow an application of the statute.

Please click here to read Mr. Bauchner’s article in its entirety.

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