Non-Income Producing Properties that Never Operated can be Single Asset Real Estate Under the Bankruptcy Code
ABI
JANUARY 22, 2023
million construction loan from Evertrust Bank (“Evertrust”) to build a hotel. [v] v] Because Evertrust refused to fund $4 million on the loan, The Source Hotel halted construction. [vi] Tags: Bankrupcty [ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case. xx] See id.
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