Blog Posts: Bankruptcy

In a decision issued on December 27, 2011, the Arizona Court of Appeals held that Arizona's anti-deficiency statute applies to debtors who purchase vacant land with the intent to reside on the property upon completion of construction of a home even if they do not complete construction or actually occupy the property. In M&I Marshall & Ilsley Bank v. Muelle...

In a recent decision, the Arizona Court of Appeals, Division One, issued a ruling moving the burden of proving reasonableness of attorneys' fees sought by a successful party to the applicant.   The underlying contract contained a fee shifting provision. In Geller v. Lesk,  P.3d 2012, 2012 WL 4364241 (App. Sept. 25, 2012), the Court of Appeals  held that even wh...

In a volatile economic climate, such as the current economic downturn, there is a significant increase in litigation cases and bankruptcy filings. When economic times flourish, people focus on acquiring assets and doing "deals". During slower times, people may look for an opportunity to protect their assets from potential creditors' claims. There are planning tools...

Video Transcripton: Can you appeal a bankruptcy? You can appeal an order from bankruptcy court just like you can appeal an order from a civil court. There are certainly some important differences. The main difference is the very short time period for appeal. What can I appeal in a bankruptcy? The kinds of things that are appealed from a bankruptcy court will ...

Arizona anti-deficiency laws were recently amended by the Arizona legislature and will become effective January 1, 2015.  Previously, the two laws, A.R.S. § 33-729 and A.R.S. § 33-814, generally provided that a loan secured by a parcel of property of 2½ acres or less, which is utilized as a one or two family dwelling, is not subject to a...