Bankruptcy

Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:

News & Analysis as of May 21, 2013

Can You Preserve Your Claims Against a Borrower After Filing a 1099-C Cancellation of Debt?

by Poyner Spruill LLP on 6/26/2012

Borrowers who file a bankruptcy petition are always looking for creative new challenges to claims asserted by their bank creditors. In recent years, debtors have argued that a bank’s issuance of an Internal Revenue Code form...more

Fifth Circuit Rules that Inherited IRAs Are Exempt under Code

by Butler, Snow, O'Mara, Stevens and Cannada,... on 6/8/2012

Originally posted in the ABI Journal, Vol. XXXI, No. 5, June 2012. Editor’s Note: For additional perspective on inherited IRAs, read the May 2011 cover article and a letter to the editor published in the July/August 2011...more

Court Finds Exigent Circumstances Warrant Appointment of Receiver for an Insolvent, Closely Held Corporation

by Katten Muchin Rosenman LLP on 3/27/2012

The Delaware Chancery Court recently found that exigent circumstances necessitated the appointment of a receiver for an insolvent company under section 291 of the Delaware General Corporation Law (DGCL). The insolvent company...more

Advantages of Chapter 11

by Pullman & Comley, LLC on 3/15/2012

Companies that are facing seemingly insurmountable financial difficulties can often turn to chapter 11 for relief. Some of the key advantages of filing chapter 11 to successfully resolve a company’s financial woes...more

Lehman Bankruptcy - In re: Lehman Brothers Holdings, Inc., et al., No. 08-13555

by Patterson Belknap Webb & Tyler LLP on 3/7/2012

Lehman Plan Becomes Effective; Distributions to Begin April 17 On March 6, 2012, Lehman Brothers Holdings Inc. and its affiliated debtors announced that their Modified Third Amended Joint Chapter 11 Plan, which had been...more

Automatic Stay and Tax Debt

by Tampa Bay Bankruptcy Center, P.A. on 2/13/2012

Automatic stay in bankruptcy is the provision in the bankruptcy code that puts into effect an immediate cessation of collection efforts by creditors on you once you file for bankruptcy. When you bankruptcy filing is...more

Jefferson County: The Bankruptcy Court Always Wins

by Cadwalader, Wickersham & Taft LLP on 1/19/2012

In re Jefferson Country, Alabama, Case No. 11-05736 (TBB) (Bankr. N.D. Ala. Jan. 6, 2012). On January 6, 2012, Judge Thomas B. Bennett of the Bankruptcy Court for the Northern District of Alabama held that (i) the...more

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