Firm Info

Mailing Address:
P.O. Box 2164
Winter Park, Florida 32790

Office Address:
1353 Palmetto Avenue
Suite 200
Winter Park, Florida 32789

Phone:

(407) 628-9081 phone
(407) 628-9085 fax

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SUPERIOR BANKRUPTCY CONVERTED FROM CHAPTER 11 TO CHAPTER 7

On October 28, 2009, the Honorable Judge Jennemann conducted a status conference in the Superior Homes & Investments, LLC (“Superior”) bankruptcy proceeding. Wendy Anderson represents the Petitioning Creditors, who successfully filed the Involuntary Chapter 11 Bankruptcy Petition against Superior. Ms. Anderson was also successful in obtaining the appointment of an independent Trustee in the bankruptcy action. The Trustee's counsel made a Motion to convert the case to a Chapter 7 bankruptcy from the involuntary Chapter 11 proceeding. This Motion was not unexpected. Since there is no business to reorganize (which is the purpose of a Chapter 11 proceeding) then it is more appropriate to convert to a Chapter 7 proceeding, which is a liquidation of the Debtor's assets, with the pro rata proceeds paid to creditors. A Chapter 7 proceeding is less expensive than a Chapter 11 case, as the Debtor has to pay quarterly fees to the U.S. Trustee during a Chapter 11 case. These fees do not need to be paid during a Chapter 7 case.

Robert Morrison, the Trustee appointed in the Chapter 11 case, has agreed to remain as Trustee during the Chapter 7 case. This is good news for the creditors. As a forensic accountant, he is using his skills to follow the Superior “money trail” to find assets to be recovered and liquidated for the benefit of creditors. His attorneys have propounded discovery on Superior's affiliates to determine if there were any inter-company transfers that can be avoided (or unwound) as preferential or fraudulent transfers. The Trustee and his counsel do not receive any compensation unless and until they recover assets. The discovery process will take months (maybe longer). Developments will be posted on our website as they occur.

SUCCESSFUL SHORT SALES NEGOTIATED, INCLUDING RELEASE OF DEFICIENCY

 

SUCCESSFUL SHORT SALES NEGOTIATED, INCLUDING RELEASE OF DEFICIENCY

A short sale occurs when a bank agrees to accept a lower sales price on a home than what the borrower owes on the loan. Certain lenders are offering cash incentives to their borrowers to do a short sale rather than have the property go in to foreclosure. These funds can be used by the borrower to move to a new location. If the lender will waive the deficiency exposure of the borrower, it can be an advantageous situation for both parties. Wendy Anderson has successfully negotiated the approval of short sales, including waiver of the deficiency exposure and payment of cash to the borrower from the lender. Call for a free consultation to see if a short sale may be beneficial to you.

 

CHIEF LEGAL ADVISORS

Wendy Anderson announces her availability to serve as part-time general counsel to businesses on a retainer basis. Check out www.chieflegaladvisors.com.

BLAIR JACKSON'S ARTICLE PUBLISHED IN DRAKE LAW REVIEW

Blair Jackson's article: Easy as P.I.E.: Avoiding and Preventing Vicarious Liability For Sexual Harassment By Supervisors has been published in the Drake Law Review. A copy of the article is attached hereto.

WENDY ANDERSON ATTENDS FIABCI U.N. LUNCHEON

                                                                                   Contact: Bill Endsley, Secretary General

                                                                                                                                202-809-1933      bill@fiabci-usa.com 

FOR IMMEDIATE RELEASE

 

Tuesday March 31, 2015, Washington, DC

 

FIABCI-USA Works Toward Transparent & Efficient International Property Markets

 

FIABCI-USA, the International Real Estate Federation – U.S. Chapter held a Luncheon in the private delegates’ dining room at the United Nations on Friday March 27 to address the continuing need for cross-border cooperation in international property markets. FIABCI enjoys special consultative status with the Economic and Social Council of the United Nations and regularly address real estate issues at UN offices around the world.

 

Local international real estate expert WENDY ANDERSON of Winter Park, FL attended the luncheon and gained valuable insights into the increasing interest of global investors in US real estate. This interest has recently been expanding to second and third tier cities around the country. The Luncheon featured speakers from the International Monetary Fund, the Center for International Private Enterprise and the Global Indicators Group of the World Bank. The Luncheon followed a daylong, high-level global conference focused on global capital flows held in cooperation with FIABCI Academic Member the George Washington University School of Business.

 

Hites Ahir, Senior Research Officer at the International Monetary Fund introduced the Global Housing Watch a new IMF initiative that tracks global housing prices, credit availability and housing price-to-income ratios. Frank Stroker, Assistant Program Officer at the Center for International Private Enterprise looked at the importance of democracy and entrepreneurs to economic development. Finally Laura Diniz, Operations Analyst from the Doing Business Unit of the World Bank updated the attendees on FIABCI’s cooperation with the World Bank on collecting data on property rights using its extensive networks around the world.

 

FIABCI World Robyn Waters was a featured speaker at the George Washington University conference addressing global real estate development opportunities, especially in her native Australia. Investing in direct and indirect real estate has been globalizing at a rapid pace over the past two decades. There is more competition among capital providers, more investment opportunities and providers need to make even more informed decisions about where and in what type of real estate they invest.

 

“I am extremely pleased to have ended my term as FIABCI-USA President with this outstanding opportunity to examine the condition of international property markets and be a part of this organization that has been active in the UN since 1954,” noted Edward Alford of South Hadley, MA who passed the FIABCI-USA President’s Gavel to Ruth Kruger of Aspen, CO at the conclusion of these meetings. The next FIABCI event will be the 66th FIABCI World Congress held in Kuala Lumpur, Malaysia from May 26-31.

 

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FIABCI-USA, the International Real Estate Federation – US Chapter provides access and opportunity for real estate professionals interested in gaining knowledge, sharing information and conducting international business. With members in 65 countries, including 100 Professional Associations, 65 Academic Institutions and 3000 individual members from all professions of the real estate sector, FIABCI is the most representative organization of the real estate industry in the world and holds special consultative status with the Economic and Social Council (ECOSOC) of the United Nations. For more information about FIABCI-USA use the contact above or visit www.fiabci-usa.com/.

 

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