Current posture

What matters now

LURIN is now pursuing a property-by-property liquidation path under Chapter 11, with the Morgan debtor's bid procedures approved on August 13 while its contested conditional disclosure-statement and confirmation matter remains under advisement August 13 hearing record Dkt. 662. Sale hearings are scheduled for August 17, August 28, and September 2, making sale execution and the resolution of the Morgan plan process the immediate case drivers. Since the March 3 petition date, the jointly administered multifamily cases have relied on cash-collateral orders to keep individual properties operating while sale processes are developed. For Morgan, the Court's final cash-collateral order authorized budgeted operations and required section 363 sale procedures, broker retention, and a sale closing within 65 days after the retention order; the secured lender may credit bid up to $41.1 million Morgan final cash-collateral order Dkt. 536. The order identifies approximately $47.2 million due under the Morgan loan as of its April 10 petition date, including $43 million of principal, underscoring the secured-debt pressure behind the sale process Morgan final cash-collateral order Dkt. 536. The sale strategy has continued to expand…

Updated Aug 14, 2026