Latest news with #BankruptcyCourt
Yahoo
4 days ago
- Business
- Yahoo
Hilco Real Estate Sales Launches Bankruptcy Sale of 110-Unit Portfolio in Opportunity Zone Of Pittsburgh
NORTHBROOK, Ill., July 28, 2025 /PRNewswire/ -- Hilco Real Estate Sales (HRE), is pleased to announce the sale of a 110-unit affordable housing portfolio located in the Homewood South neighborhood of Pittsburgh, Pennsylvania. The portfolio sale is subject to approval by the United States Bankruptcy Court, with bids due by August 14. Spread across 21 buildings, all 110 units are covered under a Housing Assistance Payments (HAP) contract, providing immediate income potential for the next owner. The properties currently operate at approximately 80% occupancy, compared to the local market average of 96%, offering substantial upside through stabilization, renovation and improved operational efficiency. With a trailing 12-month net operating income of approximately $614,000 and the backing of the in-place HAP contract, the portfolio provides a strong foundation for growth and improved returns, making it well-suited for both existing affordable housing providers looking to expand their portfolio and new entrants seeking a scalable entry point into the sector. Pittsburgh offers strong fundamentals for multifamily and HUD housing investment through its steady demand from healthcare, education and technology sector renters and, within this market, the Homewood neighborhood presents significant opportunities for affordable housing strategies such as Section 8, Rental Assistance Demonstration (RAD) conversions or Low-Income Housing Tax Credit (LIHTC) redevelopment. Long-term city planning initiatives, including the Homewood Comprehensive Community Plan and Choice Neighborhoods, reflect sustained public investment in housing, infrastructure and community development. These efforts reduce investor risk while supporting long-term value creation through repositioning and stabilization. Building on these initiatives, Homewood has become a focal point for active revitalization led by the Urban Redevelopment Authority of Pittsburgh. In February 2025, the City, in partnership with the Homewood Community Development Collaborative, started its targeted effort to remediate and demolish underinvested and outdated properties, laying the groundwork for new development. As part of this strategy, $2 million in federal American Rescue Plan Act funds were allocated to improve key sites near the neighborhood's business corridor. Together, these efforts highlight the city's ongoing commitment to neighborhood transformation, creating a supportive environment for multifamily investors looking to gain early footholds in a high-potential area poised for renewal. "For investors looking to scale in a growing metro like Pittsburgh, this portfolio presents a compelling opportunity," said Jamie Coté, vice president at Hilco Real Estate. "Beyond the strong foundation of HAP-backed income and its central location, what sets this apart is the upside tied to both property-level improvements and broader neighborhood revitalization. With targeted management and modest upgrades, there's a clear path to long-term value as the city continues its investment in Homewood's renewal." The sale is subject to Bankruptcy Court Approval of the United States Bankruptcy Court for the District of New Jersey (Trenton), Petition No.: 25-15343-MBK, In re: CBRM Realty Inc. Bids must be received on or before the deadline of August 14, 2025, at 4:00 p.m. (ET) and must be submitted with the Purchase and Sale Agreement (PSA) available for review and download from Hilco Real Estate Sales' website. On-site inspections will be held on July 23 and August 6 by appointment only. Interested bidders should review the terms of sale for requirements to participate in the sale process available on Hilco Real Estate's website. For further information, please contact Jamie Coté at (847) 418-2187 or jcote@ and Jonathan Cuticelli at (203) 245-0539 or jcuticelli@ For further information on the property, sale process and terms or to obtain access to due diligence documents, please visit or call (855) 755-2300. About Hilco Real Estate SalesSuccessfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company ( we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments. The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation. View original content to download multimedia: SOURCE Hilco Real Estate Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
5 days ago
- Business
- Khaleej Times
New UAE bankruptcy court to speed up dispute settlement, simplify insolvency cases
The newly established Bankruptcy Court marks a pivotal shift toward faster, more transparent resolution of financial distress cases, according to legal and economic experts. Established by the Ministry of Justice and headquartered at the Abu Dhabi Federal Court of First Instance, the Bankruptcy Court will streamline complex procedures and reduce delays, according to Asma Siddiqui, a senior associate at BSA LAW. Essentially, this move will improve the efficiency of procedures since its dedicated bankruptcy division will have bankruptcy experts and consultants, which Siddiqui said are essential for managing complex insolvency proceedings. "The dedicated bankruptcy department, expert consultants, and clear administrative structures will ensure faster case management, from receiving applications to resolving disputes,' she said, adding that it will benefit both creditors and debtors due to enhanced predictability. "The court's design addresses the common challenges that creditors face, such as delays in debt recovery and lack of transparency,' Siddiqui noted. However, because of the specialised teams, creditors will now have their interests actively represented and protected. Additionally, she said it will also support financial stability and economic continuity. "[The move] signals the UAE's proactive approach to building a resilient and business-friendly legal environment, which is critical for attracting investment and supporting sustainable economic growth," she said. Fostering local innovation Faris Ali, former senior economist at the Department of Energy, Abu Dhabi, called the decision a 'strategic and positive decision with a profound economic impact on the state's economy.' He said that the new Bankruptcy Court will help in increasing transparency which will in turn make investors more confident in the judicial system and increase the chances of attracting more foreign direct investment (FDI). "It also helps build trust among small and medium-sized enterprises (SMEs), which are the backbone of the local economy," he said. The decision, Ali added, is expected to reduce the flow of disputes and will allow business owners to operate within a clear set of rules, which he said will foster entrepreneurship and local innovation. As Khaleej Times reported earlier, the court will consist of a chief judge with a rank no lower than that of an appellate judge, and a panel of specialised judges appointed by the Federal Judiciary Council. The judge will be responsible for receiving applications, objections, and grievances, registering applications, among other tasks.
Emirates 24/7
24-07-2025
- Business
- Emirates 24/7
Federal Judiciary Council issues decision regulating Bankruptcy Court, jurisdiction
Abdullah bin Awad Al Nuaimi, Minister of Justice and President of the Federal Judiciary Council, has issued a decision regarding the regulation of the Bankruptcy Court. The decision stipulates that the Bankruptcy Court shall be headquartered at the Abu Dhabi Federal Courts of First Instance and shall have jurisdiction over all applications and disputes arising from the implementation of the provisions of the Federal Decree-Law on Financial Restructuring and Bankruptcy. Furthermore, the decision also permits the Federal Judiciary Council, where appropriate, to establish one or more court headquarters in any of the Emirates, subordinate to the original court, with jurisdiction over the same applications and disputes. The Court shall be composed of a President, whose rank shall be no less than that of an appeal judge, and a number of specialised judges who shall be appointed by a decision from the Federal Judiciary Council. The decision also includes the establishment of a Bankruptcy Department within the Court and shall be headed by a judge whose rank is not less than an appeal judge. The Bankruptcy Department shall perform the following function: receive applications, objections, and grievances; register applications; serve notices to the interested persons according to the provisions of this law; and ensure that the applications for preventive settlement, restructuring and declaration of bankruptcy and others types of applications satisfy the information, data and documents described in this law. The decision specifies the administrative units affiliated with the Court and their respective jurisdictions to ensure role integration and operational efficiency. The resolution also includes special provisions concerning bankruptcy experts and consultants. The Bankruptcy Court may seek the assistance of from any persons of experience and specialists in this field to perform various tasks, including overseeing the management of the debtor's assets and business, enforcing the necessary precautionary measures, expediting proceedings, meeting the creditors, and summoning the debtor or their representative on matters related to their debts, assets, or business. This decision constitutes a qualitative step toward consolidating a legal environment supportive of financial stability, contributing to the acceleration of procedures and the achievement of balance between the requirements of justice and the continuity of economic activity in accordance with the highest standards of efficiency and transparency.
Al Etihad
24-07-2025
- Business
- Al Etihad
Federal Judiciary Council issues decision regulating Bankruptcy Court, jurisdiction
24 July 2025 12:42 ABU DHABI (WAM) Minister of Justice and President of the Federal Judiciary Council, Abdullah bin Awad Al Nuaimi, has issued a decision regarding the regulation of the Bankruptcy decision stipulates that the Bankruptcy Court shall be headquartered at the Abu Dhabi Federal Courts of First Instance and shall have jurisdiction over all applications and disputes arising from the implementation of the provisions of the Federal Decree-Law on Financial Restructuring and the decision also permits the Federal Judiciary Council, where appropriate, to establish one or more court headquarters in any of the Emirates, subordinate to the original court, with jurisdiction over the same applications and Court shall be composed of a President, whose rank shall be no less than that of an appeal judge, and a number of specialised judges who shall be appointed by a decision from the Federal Judiciary decision also includes the establishment of a Bankruptcy Department within the Court and shall be headed by a judge whose rank is not less than an appeal Bankruptcy Department shall perform the following function: receive applications, objections, and grievances; register applications; serve notices to the interested persons according to the provisions of this law; and ensure that the applications for preventive settlement, restructuring and declaration of bankruptcy and others types of applications satisfy the information, data and documents described in this decision specifies the administrative units affiliated with the Court and their respective jurisdictions to ensure role integration and operational resolution also includes special provisions concerning bankruptcy experts and consultants. The Bankruptcy Court may seek the assistance of any persons of experience and specialists in this field to perform various tasks, including overseeing the management of the debtor's assets and business, enforcing the necessary precautionary measures, expediting proceedings, meeting the creditors, and summoning the debtor or their representative on matters related to their debts, assets, or business. This decision constitutes a qualitative step toward consolidating a legal environment supportive of financial stability, contributing to the acceleration of procedures and the achievement of balance between the requirements of justice and the continuity of economic activity in accordance with the highest standards of efficiency and transparency.
Zawya
24-07-2025
- Business
- Zawya
UAE: Federal Judiciary Council issues decision regulating Bankruptcy Court, jurisdiction
ABU DHABI - Abdullah bin Awad Al Nuaimi, Minister of Justice and President of the Federal Judiciary Council, has issued a decision regarding the regulation of the Bankruptcy Court. The decision stipulates that the Bankruptcy Court shall be headquartered at the Abu Dhabi Federal Courts of First Instance and shall have jurisdiction over all applications and disputes arising from the implementation of the provisions of the Federal Decree-Law on Financial Restructuring and Bankruptcy. Furthermore, the decision also permits the Federal Judiciary Council, where appropriate, to establish one or more court headquarters in any of the Emirates, subordinate to the original court, with jurisdiction over the same applications and disputes. The Court shall be composed of a President, whose rank shall be no less than that of an appeal judge, and a number of specialised judges who shall be appointed by a decision from the Federal Judiciary Council. The decision also includes the establishment of a Bankruptcy Department within the Court and shall be headed by a judge whose rank is not less than an appeal judge. The Bankruptcy Department shall perform the following function: receive applications, objections, and grievances; register applications; serve notices to the interested persons according to the provisions of this law; and ensure that the applications for preventive settlement, restructuring and declaration of bankruptcy and others types of applications satisfy the information, data and documents described in this law. The decision specifies the administrative units affiliated with the Court and their respective jurisdictions to ensure role integration and operational efficiency. The resolution also includes special provisions concerning bankruptcy experts and consultants. The Bankruptcy Court may seek the assistance of from any persons of experience and specialists in this field to perform various tasks, including overseeing the management of the debtor's assets and business, enforcing the necessary precautionary measures, expediting proceedings, meeting the creditors, and summoning the debtor or their representative on matters related to their debts, assets, or business. This decision constitutes a qualitative step toward consolidating a legal environment supportive of financial stability, contributing to the acceleration of procedures and the achievement of balance between the requirements of justice and the continuity of economic activity in accordance with the highest standards of efficiency and transparency.
