Developers: Are You a Single Asset Real Estate Entity?

On March 12, 2007, the Hon. Michael B. Kaplan, U.S.B.J. ruled that the affiliates of real estate developer Kara Homes, Inc. are each a Single Asset Real Estate entity as defined in §101(51B) of the United States Bankruptcy Code, requiring each entity to file a plan of reorganization or make monthly payments to their secured […]

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