Legal Opinion
Sovereign Bank v. Schwab
Court of Appeals for the Third Circuit
Decided July 6, 2005No. 03-4625PublishedCited by 30 opinions
1Opinion of the Court
RESTANI, Judge.
Sovereign Bank (“the bank”) appeals the district court’s final order that. affirmed the decision of the bankruptcy court ordering the bank to turn over rents to the bankruptcy estate. Because we conclude that the rents were not the property of the bankruptcy estate, we reverse.
I. Factual and Procedural History
The bank held mortgages on three rental properties in Pennsylvania. The mortgages contained assignment of rents provisions, and gave the bank the right to take possession of the properties and collect the rents upon default. 1 After the owners of the properties defaulted,…
2Cases cited12 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- United States v. Whiting Pools, Inc.Supreme Court of the United States · 1983
- In Re O'brien Environmental Energy, Inc.Court of Appeals for the Third Circuit · 1999
- Commerce Bank Harris Savings Association v. Mountain View Village, Inc. Property Management, Inc., Mountain View Village, Inc.Court of Appeals for the Third Circuit · 1993
- In Re Jason Realty, L.P., Debtor. First Fidelity Bank, N.A. v. Jason Realty, L.P., Jason Realty, L.P. v. First Fidelity Bank, N.ACourt of Appeals for the First Circuit · 1995
7 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- In Re Margaret J. Myers, Debtor. Margaret J. MyersCourt of Appeals for the Third Circuit · 2007
- Schwab v. Pennsummit Tubular, LLC (In Re Old Summit Manufacturing, LLC)Court of Appeals for the Third Circuit · 2008
- Funches v. Household Finance Consumer Discount Co. (In Re Funches)United States Bankruptcy Court, E.D. Pennsylvania · 2008
- AgChoice Farm Credit, ACA v. Glenn (In Re Glenn)United States Bankruptcy Court, M.D. Pennsylvania · 2012
- In re Nickels Midway Pier, LLCCourt of Appeals for the Third Circuit · 2007
25 more not listed; retrieve them via the Exa API.