- 11 U.S.C.
In re Hassen Imps. Pship
Mar
07
2012
Ruling
Debtor's holdings did not constitute single asset real estate as noncontiguous leased parcels did not function as a single project.
Procedural posture
Movants, two city community development commissions (CDCs), asked the court to rule that the holdings of debtor limited partnership, a real estate developer that had leased certain real estate to affiliated entities, constituted "single asset real estate" (SARE) as that term was defined by 11 U.S.C.S. § 101(51B) so that the conditions for relief from stay in 11 U.S.C.S. § 362(d)(3) were met.
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Court
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