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CLIENT ADVISORY - September 29, 2008
Federal Bailout Legislation Fails At House of Representatives
by Alan C. Hochheiser, Esq.
As most of you are aware, an agreement was reached over the weekend on the Federal Bailout Bill. The provision pertaining to the cram down of mortgages in bankruptcy proceedings was not included. This afternoon, the House of Representatives voted against the legislation by a 226-207 margin.
While we are uncertain as to where this latest development will take us, we will continue to monitor the situation and keep you advised as it progresses.
Go here for a section-by-section analysis of the legislation.
Should you have any questions, please do not hesitate to contact Alan C. Hochheiser, Esq.
Mr. Hochheiser is the managing partner of Bankruptcy with the Real Estate Default Group at Weltman, Weinberg & Reis Co., L.P.A. in Brooklyn Heights, Ohio. Mr. Hochheiser can be reached at (216) 739-5649 or via e-mail at ahochheiser@weltman.com.
Client Advisory is published by Weltman, Weinberg & Reis Co., L.P.A., an organization providing comprehensive creditor representation. The information contained in this advisory is a summary of legal information and is not intended to constitute legal advice on specific matters or create an attorney-client relationship. Contact any of our offices or visit our website at www.realestatedefaultgroup.com for more real estate related information, company facts and attorney profiles.©2008
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