When an HOA or condominium association files bankruptcy, what actually happens?

Can the board just declare bankruptcy?
Do owners become personally responsible?
Can a creditor force an HOA into bankruptcy?
And can a bankruptcy judge really wipe out amenities—or even force massive special assessments?

YouTube Video: https://youtu.be/q8w39unoeqI

CEU Version: https://attendee.gotowebinar.com/register/8461299881746255964

In this special AssociationHelpNow® session, Ray Dickey sits down with Florida attorney Cory Kravit and tri-state attorney Dave Byrne to break down a real Florida case involving a recreational condominium that filed Chapter 11 bankruptcy.

This video covers:

✔ Why an association would file Chapter 11
✔ What happens when sub-associations stop paying
✔ How bankruptcy affects owners, assessments & foreclosures
✔ Whether amenities or common property can be sold
✔ Why older buildings and deferred maintenance matter
✔ How terminations vs. bankruptcy differ
✔ The role of board fiduciary duty during financial crises
✔ Whether a bankruptcy court can override governing documents
✔ What creditors can and cannot do
✔ The “toll booth” hypothetical that had everyone laughing

This is one of the most detailed, real-world bankruptcy discussions ever streamed for HOAs and condos. If you are a manager, board member, homeowner, or attorney, this deep dive will dramatically improve your understanding of how bankruptcy truly works in community associations.

PANEL (Recorded Feb., 23, 2026):

Raymond Dickey • www.AssociationHelpNow.com

David Byrne, Esq. • Ansell Grimm & Aaron, PC • [email protected] • www.ansell.law

Cory Kravit, Esq. • Kovitz Shifrin Nesbit • [email protected] • www.ksnlaw.com

Hosted by AssociationHelpNow® | Practical insights for managers and boards who live this every day.

This content does not constitute professional advice.