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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal>A client of mine who had entered into a purchase and sale agreement a month ago, waived inspection contingency and released $5,000 earnest money signed closing papers today. The Seller was to have signed yesterday. Upon returning to his office, he received a message from an attorney that the Seller had filed bankruptcy and that the sale was off. Apparently the Seller is in pre-foreclosure but that fact was not known until very recently (like the last couple of days).<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I know that bankruptcy can stop a sale at auction (as a result of foreclosure) but can banko stop a legitimate and voluntary sale?<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>I would appreciate it if any of you crossover practitioners could help me out on this one.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Thanks in advance.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Best,<o:p></o:p></p><p class=MsoNormal>Scott Hildebrand<o:p></o:p></p><p class=MsoNormal>Attorney at Law<o:p></o:p></p></div></body></html>