Bankruptcy Plans

News & Analysis as of

You Get a Car! You Get a Car! Bankruptcy Court Gives Debtor a Car. Unsecured Creditors Get Nothing.

So, a ruling came out in June that we in The Bankruptcy Cave have been dying to blog about (and not just so we can use the blog title above). Forgive the delay – heavy workloads and summer vacations often preclude timely...more

Chapter 13 Plans are Just About Written in Stone

Recently, a bankruptcy judge in the United States Bankruptcy Court for the Eastern District of North Carolina issued a ruling that should help lenders dealing with borrowers in Chapter 13. In a case entitled In re Royal, the...more

Mortgage Lenders Entitled to the Benefit of Their Bargain: Fourth Circuit Applies Default Interest Rate to Mortgage Payments Made...

Good news for residential mortgage lenders: the Fourth Circuit recently held that post-petition mortgage payments under a Chapter 13 “maintenance and cure” bankruptcy plan should be calculated using the default interest rate...more

Penn Virginia files bankruptcy in Eastern District Virginia, Richmond Division

Citing a profound transformation of the oil and gas industry, Penn Virginia Corporation and its affiliates filed for chapter 11 bankruptcy relief early this morning in the United States Bankruptcy Court for the Eastern...more

Fourth Circuit Case on Modification of Residential Mortgage

The Fourth Circuit has held that in a case where the rate of interest on a residential mortgage loan had been increased upon default, a Chapter 13 Plan proposing to “cure” default under 11 U.S.C. §1322(b) is an impermissible...more

Chapter 13 Debtor Unable to Modify Confirmed Plan to Surrender Collateral

The U.S. Bankruptcy Court for the Eastern District of North Carolina in In Re Reuben Samuel Royal, Case No, 14-07134-DMW (May 2, 2016) recently concluded that the Chapter 13 debtors cannot surrender a vehicle back to the...more

U.S. Bankruptcy Court in Delaware Makes Substantive Changes to Local Rules

As is customary, on Feb. 1, 2016, the United States Bankruptcy Court for the District of Delaware amended the Local Rules of Bankruptcy Practice and Procedure. This year's amendments, however, are more substantive than in...more

The Ultimate Arizona Bankruptcy Guide – Pt. 3 – Getting the Process Started

After a determination is made whether a chapter 7 bankruptcy or a chapter 13 bankruptcy would be better suited to solving your debt situation, it is time to get the ball rolling and start the process. You should be...more

The Role of the Creditors' Committee

Welcome to the world of bankruptcy. This is a place that no creditor wants to be, yet here you are, having agreed to serve on the Creditors’ Committee (Committee). Of course, creditors want to be paid as much of their claim...more

The Ultimate Arizona Bankruptcy Guide (pt.1)

Bankruptcy is a big decision and one that most people want to avoid at nearly all costs. However bankruptcy is a powerful tool that can help you deal with your debt problem once and for all and in most cases the benefits...more

Energy Future Holdings – Kicking a Very Large Can Down the Road

Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”). Last week Judge Christopher Sontchi of the...more

Bankruptcy Benefits for Startups

The failure of your startup and subsequent exit plan will raise a host of conflicting concerns, such as your reputation in the VC community, the well-being of your employees, and the preservation of your company's work. These...more

The Supreme Court Holds That a Bankruptcy Court’s Order Denying Confirmation of a Debtor’s Proposed Chapter 13 Plan Is Not a...

In a May 4, 2015 opinion1, the United States Supreme Court held that a bankruptcy court order denying confirmation of a chapter 13 repayment plan is not a final order subject to immediate appeal. The Supreme Court found that,...more

United States Supreme Court Holds that Order Denying Plan Confirmation Is Not Immediately Appealable

On May 4, 2015, the Supreme Court for the United States unanimously held that an order denying confirmation of a plan is not a “final” order subject to immediate appeal as a matter of right. Although the Bullard decision...more

Bankruptcy Blog Re: Debtor’s Funds When Case Is Converted From Chapter 13 To Chapter 7

The Supreme Court of the United States was recently asked whether, when a debtor in good faith converts a bankruptcy case to Chapter 7 after confirmation of a Chapter 13 plan, undistributed funds held by the Chapter 13...more

Third Circuit: Only in a ‘Rare Case’ May a Case Arising Under Chapter 11 Be Resolved In a ‘Structured Dismissal’ That Deviates...

The Court of Appeal has just decided a “novel question of bankruptcy law: may a case arising under chapter 11 ever be resolved –in a ‘structured dismissal’ that deviates from the Bankruptcy Code’s priority system?” In its May...more

Supreme Court Holds That Orders Denying Plan Confirmation Are Not Final for Appellate Purposes

On May 4, 2015, a unanimous United States Supreme Court in Bullard v. Blue Hills, 135 S. Ct. 1686 (2015), resolved a long-standing circuit court split by holding that a bankruptcy court’s order denying confirmation of a...more

Supreme Court Update: Williams-Yulee V. Florida Bar (13-1499), Mach Mining, LLC V. EEOC (13-1019) And Bullard V. Blue Hills Bank...

We're back with several recent decisions: Williams-Yulee v. Florida Bar (13-1499), upholding a prohibition on the personal solicitation of campaign donations by judicial candidates; Mach Mining, LLC v. EEOC (13-1019),...more

Eleventh Circuit Approves Non-Consensual, Non-Debtor Releases in Chapter 11 Plan

In March 2015, the Eleventh Circuit Court of Appeals made clear that bankruptcy courts in that circuit can, under certain circumstances, confirm a Chapter 11 plan that includes non-consensual, non-debtor releases – the...more

Have You Noticed Your Payment Change? Advisory Rules Committee Proposes Amendments to Bankruptcy Rule 3002.1

The Judicial Conference Advisory Committee on Bankruptcy Rules (the “Advisory Committee”) recently published proposed amendments to the Bankruptcy Rules, including Bankruptcy Rule 3002.1, which requires a secured creditor to...more

Appeals: Try, Try Again – If You Can Get Your Foot in the Door You May Succeed

Rev Op Group v. ML Manager LLC (In re Mortgages Ltd.), 771 F.3d 623 (9th Cir. 2014) – Under the terms of a debtor’s confirmed plan of reorganization, an entity (ML Manager) was designated to manage the debtor’s...more

Bankruptcy Beat: Single Asset Real Estate Debtor Could Not Show That Plan with Substantial Balloon Payment had a Realistic Chance...

At issue in GRG Acquisitions, LLC v. MDM Golf of Gillette Ridge, LLC (In re MDM Golf of Gillette Ridge, LLC), Case No. 14-21565 (ASD) (December 23, 2014), was whether relief from the automatic stay should be granted to a...more

Third Circuit Finds Settlement Agreement to be Plan Modification

In SCH Corp. et al. v. CFI Class Action Claimants (In re SCH Corp.), the Third Circuit Court of Appeals held that a settlement agreement that constituted a plan modification request must be examined under 11 U.S.C. §1127 as...more

Denial of Plan Confirmation and Finality - Supreme Court's Resolution of Circuit Split May Apply to Chapter 11

The Supreme Court has agreed to hear Bullard v. Hyde Park Savings Bank (In re Bullard), U.S., No. 14-116 (cert. granted 12/12/14). The Court's decision in this case will resolve a circuit split with regard to whether an order...more

Detroit Confirms Chapter 9 Plan of Adjustment

Approximately 16 months after filing the largest chapter 9 bankruptcy in history, Detroit received approval November 7 of its chapter 9 plan of adjustment. Bankruptcy Judge Stephen Rhodes of the Eastern District of Michigan...more

28 Results
|
View per page
Page: of 2
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×