Here, the columnist discusses the wide-ranging impacts that can be felt by numerous parties once a developer of a condominium project starts to enter into bankruptcy. MORMAN Today’s distressed real estate market does not discriminate when it comes to claiming victims. A particularly onerous situation occurs when a condominium developer becomes insolvent and is unable to pay its bills. This causes a wave of financial impact that can adversely affect mortgage lenders, contractors and their subs, buyers under contract and unit owners. Often, the worst situation arises when a lender forecloses and the developer fails to file for bankruptcy. The