United States Ninth Circuit

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Matter of Meruelo Maddux Properties, Inc., 10-56128

In Chapter 11 bankruptcy proceedings involving the question whether the debtor was subject to the single asset real estate provisions of the Bankruptcy Code, the district court's holding that the single asset real estate provisions applied is affirmed, where: 1) the debtor, which existed solely to operate a 92-unit apartment complex, could be characterized as a single asset real estate debtor under the Bankruptcy Code; 2) the plain language of the Code gives no basis for a "whole business enterprise" exception to single asset real estate debtor status that would allow the court to consider parent corporation and sister subsidiaries; and 3) the district court did not err in its approach to granting relief from the automatic stay by leaving questions about whether the debtor timely took timely corrective action to the bankruptcy court in the first instance.

Appellate Information

  • Decided 01/27/2012
  • Published 01/27/2012

Judges

  • Gould

Court

  • United States Ninth Circuit

Counsel

  • For Appellant:
  • Christopher E. Prince, Donald Lee Gaffney