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  4.  » Takeaways From 6th Circ.’s RE Tax Foreclosure Ruling By Scott Bernstein (January 25, 2022)

Takeaways From 6th Circ.’s RE Tax Foreclosure Ruling By Scott Bernstein (January 25, 2022)

by | Jan 27, 2022 | bankruptcy, Firm News |

Skolnick Legal Group, P.C. is pleased to share Attorney Scott Bernstein’s recently published article on Lowry v. Southfield Neighborhood Revitalization Initiative, Case No. 20-1712 (6th Cir. Dec. 27, 2021), a case of first impression in the Sixth Circuit. In Lowry, the Sixth Circuit addressed the questions of (1) whether Section 548 of the Bankruptcy Code, which allows for the avoidance and recovery of constructive fraudulent transfers, may be utilized to set aside a tax foreclosure and (2) whether the U.S. Supreme Court’s 1994 holding of BFP v. Resolution Trust Corp. that the price received at a mortgage foreclosure sale, which conclusively established reasonably equivalent value of the mortgaged property for Section 548 purposes, should extend to tax foreclosures in Michigan. Click here to read the article #foreclosure #bankruptcy #tax