When an IRS Code ' 1031 “qualified intermediary” files for bankruptcy, this triggers unique challenges to the constitutionality of the bankruptcy process, as well as to the boundaries of a bankruptcy court's equitable powers under Bankruptcy Code ' 105 and interpretations of state property law.
Qualified Intermediary Bankruptcies
A look at the Land America bankruptcy, in which approximately 450 individual exchangers suddenly lost legal possession of their exchange proceeds when Land America filed for bankruptcy.
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